Umar, who was presented as the shadow finance minister even before 2013 elections, was also somewhat aware of the changes that were on the cards especially due to the criticism directed at him owing to the fragile economy and rising inflation.
As the embattled regime gears up to steer the economy without Umar, events that led to his ouster are coming to light with well-placed sources revealing a Whatsapp chat between Prime Minister Imran Khan and Umar - a day before the cabinet shakeup.
According to a report by Geo News, Asad Umar and Imran Khan talked about the reshuffling Wednesday night and at a point, the conversation turned tense as Umar was told about leaving the slot and assuming charge as minister of petroleum.
Moreover, when Umar dismissed assuming charge of petroleum minister, the premier tried to cajole him and instead offered him to continue to head a selection of cabinet committees, including the Economic Coordination Committee, Cabinet Committee of Privatization and the Executive Committee of National Economic Council, which are otherwise the domain of the prime minister.
Asad Umar shot down the proposal altogether for the reason that the new finance minister would desire to head these committees himself and that would create a rift between the two.
Sources close to the PM House say Imran Khan had made up his mind to install a technocrat instead of Asad Umar for which the news was leaked to the media in a bid to prepare the investors and businessman.
Umar had his critics within the party as well, especially over the amnesty scheme for which the cabinet brainstormed but did not make any decision; Minister for Communications Murad Saeed and other opposed the scheme during the cabinet meeting.
Though Umar's ouster might come as a surprise to the public, the PTI leader himself was not completely in the dark as the news of his replacement was planted in the power corridors before the announcement.
Political commentators say Imran Khan was aware of the flak he was facing owing to the cash-strapped economy and so he wanted to replace Asad Umar; the premier also wanted to hand over the portfolio of the interior for which Ijaz Shah was chosen.
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 4, 2023 (Saturday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||337.01||337.71|
|Hong Kong Dollar||HKD||34.19||34.54|
|New Zealand Dollar||NZD||173.25||175.25|
KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 205,200 on Saturday. The price of 10 grams of 24k gold was recorded at Rs175,930.
Likewise, 10 grams of 22k gold were being traded for Rs167,318 while a single tola of 22-karat gold was being sold at Rs 195,157.
Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.
|Lahore||PKR 205,200||PKR 2,430|
|Karachi||PKR 205,200||PKR 2,430|
|Islamabad||PKR 205,200||PKR 2,430|
|Peshawar||PKR 205,200||PKR 2,430|
|Quetta||PKR 205,200||PKR 2,430|
|Sialkot||PKR 205,200||PKR 2,430|
|Attock||PKR 205,200||PKR 2,430|
|Gujranwala||PKR 205,200||PKR 2,430|
|Jehlum||PKR 205,200||PKR 2,430|
|Multan||PKR 205,200||PKR 2,430|
|Bahawalpur||PKR 205,200||PKR 2,430|
|Gujrat||PKR 205,200||PKR 2,430|
|Nawabshah||PKR 205,200||PKR 2,430|
|Chakwal||PKR 205,200||PKR 2,430|
|Hyderabad||PKR 205,200||PKR 2,430|
|Nowshehra||PKR 205,200||PKR 2,430|
|Sargodha||PKR 205,200||PKR 2,430|
|Faisalabad||PKR 205,200||PKR 2,430|
|Mirpur||PKR 205,200||PKR 2,430|