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'''Muhammad Ishaq Dar''' ({{lang-ur|{{Nastaliq|محمد اسحاق ڈار}}}}; born 23 May 1950) is a senior Pakistani politician<ref name="Hussain">{{Cite web |last=Hussain |first=Abid |title=Ishaq Dar takes oath as Pakistan's new finance minister |url=https://www.aljazeera.com/news/2022/9/28/ishaq-dar-takes-oath-as-pakistans-new-finance-minister |access-date=2023-01-16 |publisher=Al Jazeera |language=en}}</ref> and [[chartered accountant]].<ref>{{Cite web |title=Mr. Muhammad Ishaq Dar – ICAP SAFA Conference 2016 |url=https://www.icap.org.pk/safaconference/profiles/muhammad_ishaq_dar.php |access-date=2023-01-16 |website=icap.org.pk}}</ref> He is a [[Senate of Pakistan|senator of Pakistan]]<ref>{{Cite web |date=2022-09-27 |title=Dar sworn in as senator amid kerfuffle |url=https://tribune.com.pk/story/2378854/dar-sworn-in-as-senator-amid-kerfuffle |access-date=2023-01-16 |website=The Express Tribune |language=en}}</ref> and was appointed [[Finance Minister of Pakistan]] on 28 September 2022.<ref name="Hussain"/>
'''Muhammad Ishaq Dar''' ({{lang-ur|{{Nastaliq|محمد اسحاق ڈار}}}}; born 23 May 1950) is a senior Pakistani politician<ref name="Hussain">{{Cite web |last=Hussain |first=Abid |title=Ishaq Dar takes oath as Pakistan's new finance minister |url=https://www.aljazeera.com/news/2022/9/28/ishaq-dar-takes-oath-as-pakistans-new-finance-minister |access-date=2023-01-16 |publisher=Al Jazeera |language=en}}</ref> and [[chartered accountant]].<ref>{{Cite web |title=Mr. Muhammad Ishaq Dar – ICAP SAFA Conference 2016 |url=https://www.icap.org.pk/safaconference/profiles/muhammad_ishaq_dar.php |access-date=2023-01-16 |website=icap.org.pk}}</ref> He is a [[Senate of Pakistan|member of the Senate of Pakistan]]<ref>{{Cite web |date=2022-09-27 |title=Dar sworn in as senator amid kerfuffle |url=https://tribune.com.pk/story/2378854/dar-sworn-in-as-senator-amid-kerfuffle |access-date=2023-01-16 |website=The Express Tribune |language=en}}</ref> and was appointed [[Finance Minister of Pakistan]] on 28 September 2022.<ref name="Hussain"/>


Dar was born in 1950 in Lahore. He attended the [[Hailey College of Commerce]], [[Government College University (Lahore)|Government College University]], and the [[Institute of Chartered Accountants in England and Wales]]. He began his career as a chartered accountant in the public and private sector.<ref>{{Cite web |title=Senate of Pakistan |url=https://senate.gov.pk/en/profile.php?uid=765 |access-date=2023-02-15 |website=senate.gov.pk}}</ref> He entered politics in the 1980s. He was elected to the senate in 2003 and was Leader of the Opposition from 2012 to 2013.<ref>{{Cite web |last=Reporter |first=The Newspaper's Staff |date=2012-03-15 |title=Ishaq Dar new leader of opposition in Senate |url=https://www.dawn.com/2012/03/15/ishaq-dar-new-leader-of-opposition-in-senate/ |access-date=2023-02-21 |work=Dawn |language=en |location=Pakistan}}</ref> He has served as federal [[Ministry of Commerce and Textile Industry|minister for commerce]]; industries and investment; and finance and revenue.
Dar was born in 1950 in Lahore. He attended the [[Hailey College of Commerce]], [[Government College University (Lahore)|Government College University]], and [[Institute of Chartered Accountants in England and Wales]]. He began his career as a chartered accountant in the public and private sector.<ref>{{Cite web |title=Senate of Pakistan |url=https://senate.gov.pk/en/profile.php?uid=765 |access-date=2023-02-15 |website=senate.gov.pk}}</ref>
Dar entered politics in the 1980s. He was Chairman of [[Pakistan Board of Investment]] for a year during the [[first Sharif ministry]]. He has served as federal [[Ministry of Commerce and Textile Industry|minister for commerce]]; industries and investment; and finance and revenue.

Dar was elected to the senate in 2003, and was Leader of the Opposition from 2012 to 2013.<ref>{{Cite web |last=Reporter |first=The Newspaper's Staff |date=2012-03-15 |title=Ishaq Dar new leader of opposition in Senate |url=https://www.dawn.com/2012/03/15/ishaq-dar-new-leader-of-opposition-in-senate/ |access-date=2023-02-21 |work=Dawn|location=Pakistan |language=en}}</ref> After the formation of a coalition government following the [[Pakistani general election, 2008|2008 general election]], he was briefly re-appointed as the Finance Minister for the second time under Prime Minister [[Yousaf Raza Gillani]]. During the [[third Sharif ministry]], Dar was re-appointed as finance minister; following Sharif's removal from office in July 2017, Sharif's successor [[Shahid Khaqan Abbasi]] appointed him finance minister again.


==Early life and education==
==Early life and education==
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==Political career==
==Political career==


===Initial political career===
===Entry into politics and first Sharif ministry===
Dar began his political career in the late 1980s with the [[Pakistan Muslim League (N)]] as a member of its central executive committee (CEC).<ref name="dawn/25april2013">{{cite news|title=Mohammad Ishaq Dar profile |url=http://www.dawn.com/news/1024455|last1=Imran Kazmi |access-date=7 October 2016 |work=DAWN |date=25 April 2013 |ref=DAWN |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029085839/http://www.dawn.com/news/1024455/mohammad-ishaq-dar |archive-date=29 October 2016 }}</ref> According to a statement from Dar recorded by the [[National Accountability Bureau]] when he was detained following the [[1999 Pakistani coup d'état]], he began a close association with the Sharif family in 1990, in the course of which he [[Money laundering|laundered]] "$14.68 million and open[ed] two bank accounts under the names of Sikandar Masood Qazi and Talat Masood Qazi for Nawaz Sharif's brother".<ref name="dawn/2feb2017">{{cite news |last1=Farooq |first1=Asad |date=2 February 2017 |title=What did Ishaq Dar 'confess' to during the Hudaibiya Paper Mills reference in 2000? |work=DAWN |url=https://www.dawn.com/news/1312292 |url-status=live |access-date=28 November 2017 |archive-url=https://web.archive.org/web/20171127001425/https://www.dawn.com/news/1312292 |archive-date=27 November 2017}}</ref>
Dar began his political career in the late 1980s with the [[Pakistan Muslim League (N)]] as a member of its central executive committee (CEC).<ref name="dawn/25april2013">{{cite news|title=Mohammad Ishaq Dar profile |url=http://www.dawn.com/news/1024455|last1=Imran Kazmi |access-date=7 October 2016 |work=DAWN |date=25 April 2013 |ref=DAWN |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029085839/http://www.dawn.com/news/1024455/mohammad-ishaq-dar |archive-date=29 October 2016 }}</ref> In a confession to the [[National Accountability Bureau]], Dar said that he became closely associated with the Sharif family in 1990, and admitted to "money laundering of $14.68 million and opening two bank accounts under the names of Sikandar Masood Qazi and Talat Masood Qazi for Nawaz Sharif's brother".<ref name="dawn/2feb2017">{{cite news |last1=Farooq |first1=Asad |date=2 February 2017 |title=What did Ishaq Dar 'confess' to during the Hudaibiya Paper Mills reference in 2000? |work=DAWN |url=https://www.dawn.com/news/1312292 |url-status=live |access-date=28 November 2017 |archive-url=https://web.archive.org/web/20171127001425/https://www.dawn.com/news/1312292 |archive-date=27 November 2017}}</ref>


In 1992, the then Prime Minister, [[Nawaz Sharif]], appointed him Chairman of the [[Pakistan Board of Investment]] with a status of Minister of State till 1993.<ref name="pakistantoday/21sept2017">{{cite news |date=21 September 2017 |title=Ishaq Dar's fall from grace |work=Pakistan Today |url=https://www.pakistantoday.com.pk/2017/09/21/ishaq-dars-fall-from-grace/ |url-status=live |access-date=24 November 2017 |archive-url=https://web.archive.org/web/20171124091254/https://www.pakistantoday.com.pk/2017/09/21/ishaq-dars-fall-from-grace/ |archive-date=24 November 2017}}</ref><ref name="dawn/25april2013" /> In 1993, the then [[President of Pakistan]], [[Ghulam Ishaq Khan]], dismissed the Sharif ministry. He became President of the [[Lahore Chamber of Commerce and Industry]] that same year.<ref>{{cite news|last1=Hassaan Ahmed|title=Another Budget: A labyrinth of words and commitments|url=https://www.pakistantoday.com.pk/2016/06/05/another-budget-a-labyrinth-of-words-and-commitments/|access-date=28 November 2017|work=Pakistan Today|date=5 June 2016|url-status=live|archive-url=https://web.archive.org/web/20171128135945/https://www.pakistantoday.com.pk/2016/06/05/another-budget-a-labyrinth-of-words-and-commitments/|archive-date=28 November 2017}}</ref><ref name="pakistantoday/21sept2017" />
In 1992, the Prime Minister, Nawaz Sharif, appointed him Chairman of [[Pakistan Board of Investment]] (BOI) with a status of Minister of State till 1993.<ref>{{cite news|last1=Fazal Sher|title=Dar castigates IK to voice deep govt frustration|url=http://epaper.brecorder.com/2017/07/04/1-page/886416-news.html|access-date=28 November 2017|work=Business Recorder|url-status=bot: unknown|archive-url=https://web.archive.org/web/20171128122400/http://epaper.brecorder.com/2017/07/04/1-page/886416-news.html|archive-date=28 November 2017}}</ref><ref name="pakistantoday/21sept2017">{{cite news |date=21 September 2017 |title=Ishaq Dar's fall from grace |work=Pakistan Today |url=https://www.pakistantoday.com.pk/2017/09/21/ishaq-dars-fall-from-grace/ |url-status=live |access-date=24 November 2017 |archive-url=https://web.archive.org/web/20171124091254/https://www.pakistantoday.com.pk/2017/09/21/ishaq-dars-fall-from-grace/ |archive-date=24 November 2017}}</ref><ref name="dawn/25april2013" /> He served in a [[pro bono]] role. He immediately resigned after the government was dismissed by the then [[President of Pakistan]], [[Ghulam Ishaq Khan]]<ref>{{cite news|title=Chronology of prime ministers|url=https://www.dawn.com/news/395173|access-date=14 August 2017|work=DAWN|date=27 June 2004|language=en|url-status=live|archive-url=https://web.archive.org/web/20170814055716/https://www.dawn.com/news/395173|archive-date=14 August 2017}}</ref> under the notorious clause 58 2(b).<ref>{{Cite web |title=The 18th Amendment: Historical Developments and Debates in Pakistan|url=https://www.isas.nus.edu.sg/papers/the-18th-amendment-historical-developments-and-debates-in-pakistan/ |access-date=2023-02-21 |website=isas.nus.edu.sg}}</ref> It is pertinent to note that the clause 58-B has been removed for being undemocratic under [[Eighteenth Amendment to the Constitution of Pakistan]]. After leaving BOI 1993,<ref>{{cite news|title=Dar accuses Imran Khan of tax theft, lying in post-JIT hearing presser|url=https://www.dawn.com/news/1342972|access-date=28 November 2017|work=DAWN|date=3 July 2017|url-status=live|archive-url=https://web.archive.org/web/20170921154141/https://www.dawn.com/news/1342972|archive-date=21 September 2017}}</ref> he won the elections for the President of [[Lahore Chamber of Commerce and Industry]] that same year.<ref>{{cite news|last1=Hassaan Ahmed|title=Another Budget: A labyrinth of words and commitments|url=https://www.pakistantoday.com.pk/2016/06/05/another-budget-a-labyrinth-of-words-and-commitments/|access-date=28 November 2017|work=Pakistan Today|date=5 June 2016|url-status=live|archive-url=https://web.archive.org/web/20171128135945/https://www.pakistantoday.com.pk/2016/06/05/another-budget-a-labyrinth-of-words-and-commitments/|archive-date=28 November 2017}}</ref><ref name="pakistantoday/21sept2017" />


Dar first stood for the [[National Assembly of Pakistan|National Assembly]] in a bye-election after the [[1993 Pakistani general election]]; Sharif had stood and won in two constituencies but had to resign from one.<ref>{{cite news |last1=M A Niazi |date=2 October 2009 |title=The postponing of a by-election |work=The Nation |url=http://nation.com.pk/02-Oct-2009/the-postponing-of-a-byelection |url-status=live |access-date=28 November 2017 |archive-url=https://web.archive.org/web/20171201035301/http://nation.com.pk/02-Oct-2009/the-postponing-of-a-byelection |archive-date=1 December 2017}}</ref> Dar won on a 62% voteshare (39,483 votes).<ref name="pakistantoday/21sept2017" /><ref name="thenews/10oct2015">{{cite news|last1=Sabir|first1=Shah|title=Popularity graphs of winners of Lahore NA polls since 1970|url=https://www.thenews.com.pk/print/67067|access-date=16 August 2017|work=The News|date=10 October 2015|language=en|url-status=live|archive-url=https://web.archive.org/web/20170816235453/https://www.thenews.com.pk/print/67067-popularity-graphs-of-winners-of-lahore-na-polls-since-1970|archive-date=16 August 2017}}</ref><ref name="dawn/25april2013" /> In 1996, the President, [[Farooq Leghari]], dismissed the Prime Minister [[Benazir Bhutto]] and her government, and dissolved the National Assembly.<ref name="brecorder/23july2017">{{cite news|last1=Huzaima Bukhari|first1=Dr Ikramul Haq|title=Myths busted|url=http://epaper.brecorder.com/2017/07/23/20-page/890850-news.html|access-date=28 November 2017|work=Business Recorder|date=23 July 2017|url-status=live|archive-url=https://web.archive.org/web/20171201044113/http://epaper.brecorder.com/2017/07/23/20-page/890850-news.html|archive-date=1 December 2017}}</ref><ref name="dawn/4june2006">{{cite news|title=Editorial|url=https://www.dawn.com/news/1069068|access-date=13 August 2017|work=DAWN|date=4 June 2006|language=en|url-status=live|archive-url=https://web.archive.org/web/20170813225337/https://www.dawn.com/news/1069068/dawn-editorial-june-04-2006|archive-date=13 August 2017}}</ref><ref name="pakistantoday/21sept2017" /><ref name="dawn/27june2004">{{cite news|title=Chronology of prime ministers|url=https://www.dawn.com/news/395173|access-date=13 August 2017|work=DAWN|date=27 June 2004|language=en|url-status=live|archive-url=https://web.archive.org/web/20170814055716/https://www.dawn.com/news/395173|archive-date=14 August 2017}}</ref>
Dar made his Parliament debut after running for a seat in the [[National Assembly of Pakistan]] in a by-election held after [[Pakistani general elections, 1993|1993 general election]] as a candidate of the PML-N for the Lahore NA-95 constituency after the seat was vacated by [[Nawaz Sharif]] who had won the seat in two different constituencies in 1993 general election.<ref name="thenews/11sept2017">{{cite news|last1=Faizan Bangash|title=Maliks yet to win on NA-120|url=https://www.thenews.com.pk/print/229115|access-date=28 November 2017|work=The News|date=11 September 2017|language=en|url-status=live|archive-url=https://web.archive.org/web/20180220045836/https://www.thenews.com.pk/print/229115|archive-date=20 February 2018}}</ref><ref>{{cite news|last1=M A Niazi|title=The postponing of a by-election|url=http://nation.com.pk/02-Oct-2009/the-postponing-of-a-byelection|access-date=28 November 2017|work=The Nation|date=2 October 2009|url-status=live|archive-url=https://web.archive.org/web/20171201035301/http://nation.com.pk/02-Oct-2009/the-postponing-of-a-byelection|archive-date=1 December 2017}}</ref> After receiving 39,483 votes (62%), he was elected to the National Assembly.<ref name="pakistantoday/21sept2017" /><ref name="thenews/10oct2015">{{cite news|last1=Sabir|first1=Shah|title=Popularity graphs of winners of Lahore NA polls since 1970|url=https://www.thenews.com.pk/print/67067|access-date=16 August 2017|work=The News|date=10 October 2015|language=en|url-status=live|archive-url=https://web.archive.org/web/20170816235453/https://www.thenews.com.pk/print/67067-popularity-graphs-of-winners-of-lahore-na-polls-since-1970|archive-date=16 August 2017}}</ref><ref name="dawn/25april2013" /> His tenure as Member of the National Assembly was terminated upon the dissolution of the National Assembly in 1996<ref name="brecorder/23july2017">{{cite news|last1=Huzaima Bukhari|first1=Dr Ikramul Haq|title=Myths busted|url=http://epaper.brecorder.com/2017/07/23/20-page/890850-news.html|access-date=28 November 2017|work=Business Recorder|date=23 July 2017|url-status=live|archive-url=https://web.archive.org/web/20171201044113/http://epaper.brecorder.com/2017/07/23/20-page/890850-news.html|archive-date=1 December 2017}}</ref><ref name="dawn/4june2006">{{cite news|title=Editorial|url=https://www.dawn.com/news/1069068|access-date=13 August 2017|work=DAWN|date=4 June 2006|language=en|url-status=live|archive-url=https://web.archive.org/web/20170813225337/https://www.dawn.com/news/1069068/dawn-editorial-june-04-2006|archive-date=13 August 2017}}</ref> following the dismissal of the [[Benazir Bhutto]] government by the then-President, [[Farooq Leghari]].<ref name="pakistantoday/21sept2017" /><ref name="dawn/27june2004">{{cite news|title=Chronology of prime ministers|url=https://www.dawn.com/news/395173|access-date=13 August 2017|work=DAWN|date=27 June 2004|language=en|url-status=live|archive-url=https://web.archive.org/web/20170814055716/https://www.dawn.com/news/395173|archive-date=14 August 2017}}</ref>


=== Pakistan's Federal Minister for Finance, Revenue, Economic Affairs & Statistics and Commerce (1997–1999) ===
=== Second Sharif ministry ===
In the [[Pakistani general elections, 1997|1997 snap election]],<ref name="book/9781135355760">{{cite book|last1=Schottli|first1=Jivanta|last2=Mitra|first2=Subrata K.|last3=Wolf|first3=Siegried|title=A Political and Economic Dictionary of South Asia|date=2015|publisher=Routledge|isbn=9781135355760|url=https://books.google.com/books?id=7uIjCQAAQBAJ&q=elections+were+called+1990+pakistan&pg=PA295|access-date=13 August 2017|language=en|url-status=live|archive-url=https://web.archive.org/web/20170814061238/https://books.google.com/books?id=7uIjCQAAQBAJ&pg=PA295&lpg=PA295&dq=elections%20were%20called%201990%20pakistan&source=bl&ots=ZZV7NGvGK8&sig=ylpHceIDefl-tsZo2iPo6I8JspU&hl=en&sa=X&ved=0ahUKEwi6h9CUr9XVAhVJLI8KHVrpAJ8Q6AEIUjAI#v=onepage&q=elections%20were%20called%201990%20pakistan&f=false|archive-date=14 August 2017}}</ref> Dar successfully stood for election to Lahore's NA-97 National Assembly constituency on a PML-N ticket <ref name="pakistantoday/21sept2017" /> and won 61,556 votes.<ref name="thenews/10oct2015" /><ref name="dawn/25april2013" /> Sharif's PML-N again won a clear majority,<ref name="nytimes/5feb1997">{{Cite news|url=https://www.nytimes.com/1997/02/05/world/muslim-party-gets-huge-margin-in-pakistan-s-parliament.html |title=Muslim Party Gets Huge Margin in Pakistan's Parliament |access-date=13 November 2008 |date=5 February 1997 |work=The New York Times|first=John F. |last=Burns |url-status=live |archive-url=https://web.archive.org/web/20161029090326/http://www.nytimes.com/1997/02/05/world/muslim-party-gets-huge-margin-in-pakistan-s-parliament.html |archive-date=29 October 2016 }}</ref> and Dar was Federal Minister for Industries and Investment in from February to July 1997.<ref name="2ndcabinet/nawaz" />
After new snap elections were called in [[Pakistani general elections, 1997|1997]],<ref name="book/9781135355760">{{cite book|last1=Schottli|first1=Jivanta|last2=Mitra|first2=Subrata K.|last3=Wolf|first3=Siegried|title=A Political and Economic Dictionary of South Asia|date=2015|publisher=Routledge|isbn=9781135355760|url=https://books.google.com/books?id=7uIjCQAAQBAJ&q=elections+were+called+1990+pakistan&pg=PA295|access-date=13 August 2017|language=en|url-status=live|archive-url=https://web.archive.org/web/20170814061238/https://books.google.com/books?id=7uIjCQAAQBAJ&pg=PA295&lpg=PA295&dq=elections%20were%20called%201990%20pakistan&source=bl&ots=ZZV7NGvGK8&sig=ylpHceIDefl-tsZo2iPo6I8JspU&hl=en&sa=X&ved=0ahUKEwi6h9CUr9XVAhVJLI8KHVrpAJ8Q6AEIUjAI#v=onepage&q=elections%20were%20called%201990%20pakistan&f=false|archive-date=14 August 2017}}</ref> Ishaq Dar ran for a National Assembly seat as a candidate of the PML-N; and, was successfully re-elected to represent Lahore's NA-97 constituency<ref name="pakistantoday/21sept2017" /> by securing 61,556 votes.<ref name="thenews/10oct2015" /><ref name="dawn/25april2013" /> After the PML-N had won a clear majority in the National Assembly for the second time,<ref name="nytimes/5feb1997">{{Cite news|url=https://www.nytimes.com/1997/02/05/world/muslim-party-gets-huge-margin-in-pakistan-s-parliament.html |title=Muslim Party Gets Huge Margin in Pakistan's Parliament |access-date=13 November 2008 |date=5 February 1997 |work=The New York Times|first=John F. |last=Burns |url-status=live |archive-url=https://web.archive.org/web/20161029090326/http://www.nytimes.com/1997/02/05/world/muslim-party-gets-huge-margin-in-pakistan-s-parliament.html |archive-date=29 October 2016 }}</ref> Ishaq Dar was inducted into the cabinet of Prime Minister Nawaz Sharif as a federal minister; and, was appointed the Federal Minister for Industries and Investment in February 1997 – where he served until July 1997.<ref name="2ndcabinet/nawaz" />


In December 1997, he was appointed Federal [[Ministry of Commerce and Textile Industry|Minister for Commerce]].<ref name="2ndcabinet/nawaz">{{cite web|title=Federal Cabinet 1997 to 1999|url=http://www.cabinet.gov.pk/cabinet/userfiles1/file/Info%20serveces/Federal%20Cabinet%20since%201947/nawaz-2-1997-99.pdf|publisher=Cabinet Division|access-date=11 December 2017|archive-url=https://web.archive.org/web/20171211105141/http://www.cabinet.gov.pk/cabinet/userfiles1/file/Info%20serveces/Federal%20Cabinet%20since%201947/nawaz-2-1997-99.pdf|archive-date=11 December 2017}}</ref><ref name="pakistantoday/21sept2017" /><ref name="thenews/13dec2007">{{cite news|title=Commerce ministers since 1997 came from LCCI |url=https://www.thenews.com.pk/archive/print/85042|access-date=21 January 2017 |work=The News |date=13 December 2007 |language=en |url-status=live |archive-url=https://web.archive.org/web/20170121084749/https://www.thenews.com.pk/archive/print/85042-commerce-ministers-since-1997-came-from-lcci |archive-date=21 January 2017 }}</ref><ref name="dawn/25april2013" /> In 1998, [[Pokhran-II|India]] and then [[Chagai-I|Pakistan tested nuclear weapons]]; Pakistan was subsequently economically [[Economic sanctions|sanctioned]],<ref>{{cite news|title=Pakistan takes a beating|url=http://www.economist.com/node/161886|access-date=26 November 2017|newspaper=The Economist|date=20 August 1998|url-status=live|archive-url=https://web.archive.org/web/20150822080047/http://www.economist.com/node/161886|archive-date=22 August 2015}}</ref><ref>{{cite news|title= U.S. outlines sanctions against India, Pakistan |url=http://edition.cnn.com/WORLD/asiapcf/9806/18/india.pakistan.sanctions/ |access-date=4 January 2017 |publisher=CNN|date=18 June 1998 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20170121082125/http://edition.cnn.com/WORLD/asiapcf/9806/18/india.pakistan.sanctions/ |archive-date=21 January 2017 }}</ref><ref>{{Cite web |last1=Karp |first1=Jonathan |last2=Robbins |first2=Carla Anne |last3=Pope |first3=Hugh |title=Pakistan's Nuclear Tests Bring Swift, Painful U.S. Sanctions |url=https://www.wsj.com/articles/SB896356796170481500 |access-date=2023-04-24 |website=The Wall Street Journal |language=en-US}}</ref> with severe economic consequences.<ref>{{Cite web |last=Iqbal |first=Anwar |date=2022-05-29 |title=The cat-and-mouse game of US sanctions on nuclear Pakistan |url=https://www.dawn.com/news/1692054 |access-date=2023-04-24 |work=Dawn|location=Pakistan |language=en}}</ref><ref>{{Cite web |title=India-Pakistan Nuclear Tests and U.S. Response |url=https://www.everycrsreport.com/reports/98-570.html |access-date=2023-04-24 |website=everycrsreport.com |language=en}}</ref><ref>{{Cite web |last=staff |first=SAV editorial |date=2018-07-27 |title=SAV Explainer: U.S. Response to South Asia’s 1998 Nuclear Tests |url=https://southasianvoices.org/sav-explainer-u-s-response-1998-nuclear-tests/ |access-date=2023-04-24 |website=South Asian Voices |language=en}}</ref> Dar was then appointed [[Ministry of Finance, Revenue and Economic Affairs|Minister for Finance]],<ref name="pakistantoday/21sept2017" /> and negotiated an [[International Monetary Fund]] (IMF) [[bailout]] package.<ref name="pakistantoday/21sept2017" />
In December 1997, he was made the Federal [[Ministry of Commerce and Textile Industry|Minister for Commerce]].<ref name="2ndcabinet/nawaz">{{cite web|title=Federal Cabinet 1997 to 1999|url=http://www.cabinet.gov.pk/cabinet/userfiles1/file/Info%20serveces/Federal%20Cabinet%20since%201947/nawaz-2-1997-99.pdf|publisher=Cabinet Division|access-date=11 December 2017|archive-url=https://web.archive.org/web/20171211105141/http://www.cabinet.gov.pk/cabinet/userfiles1/file/Info%20serveces/Federal%20Cabinet%20since%201947/nawaz-2-1997-99.pdf|archive-date=11 December 2017}}</ref><ref name="pakistantoday/21sept2017" /><ref name="thenews/13dec2007">{{cite news|title=Commerce ministers since 1997 came from LCCI |url=https://www.thenews.com.pk/archive/print/85042|access-date=21 January 2017 |work=The News |date=13 December 2007 |language=en |url-status=live |archive-url=https://web.archive.org/web/20170121084749/https://www.thenews.com.pk/archive/print/85042-commerce-ministers-since-1997-came-from-lcci |archive-date=21 January 2017 }}</ref><ref name="dawn/25april2013" /> During that time, in response to India's provocative & threatening 5 consecutive nuclear bomb tests on 11 May 1998, in a much-hyped development globally, Pakistan tested its [[Pakistan and weapons of mass destruction|nuclear weapons]] in May 1998. Major economic powers at that time,<ref>{{Cite web |title=Global Economic and Financial Developments in the 1990s and Implications for Monetary Policy -- Address by Flemming Larsen |url=https://www.imf.org/en/News/Articles/2015/09/28/04/53/sp061199 |access-date=2023-04-24 |website=IMF |language=en}}</ref> responded with harsh and heavy economic sanctions against Pakistan.<ref>{{cite news|title=Pakistan takes a beating|url=http://www.economist.com/node/161886|access-date=26 November 2017|newspaper=The Economist|date=20 August 1998|url-status=live|archive-url=https://web.archive.org/web/20150822080047/http://www.economist.com/node/161886|archive-date=22 August 2015}}</ref><ref>{{cite news|title= U.S. outlines sanctions against India, Pakistan |url=http://edition.cnn.com/WORLD/asiapcf/9806/18/india.pakistan.sanctions/ |access-date=4 January 2017 |publisher=CNN|date=18 June 1998 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20170121082125/http://edition.cnn.com/WORLD/asiapcf/9806/18/india.pakistan.sanctions/ |archive-date=21 January 2017 }}</ref>


As the result of economic sanctions<ref>{{Cite web|first1=Jonathan|last1= Karp|first2=Carla Anne|last2= Robbins|first3=Hugh|last3=Pope |title=Pakistan's Nuclear Tests Bring Swift, Painful U.S. Sanctions |url=https://www.wsj.com/articles/SB896356796170481500 |access-date=2023-04-24 |website=The Wall Street Journal |language=en-US}}</ref> having a multitude of global geostrategic, military, trade, investment, industrial collaboration, financial and IFIs lending repercussions, Pakistan's economy plummeted.<ref>{{Cite web |last=Iqbal |first=Anwar |date=2022-05-29 |title=The cat-and-mouse game of US sanctions on nuclear Pakistan |url=https://www.dawn.com/news/1692054 |access-date=2023-04-24 |work=Dawn|location=Pakistan |language=en}}</ref><ref>{{Cite web |title=India-Pakistan Nuclear Tests and U.S. Response |url=https://www.everycrsreport.com/reports/98-570.html |access-date=2023-04-24 |website=everycrsreport.com |language=en}}</ref><ref>{{Cite web |last=staff |first=SAV editorial |date=2018-07-27 |title=SAV Explainer: U.S. Response to South Asia’s 1998 Nuclear Tests |url=https://southasianvoices.org/sav-explainer-u-s-response-1998-nuclear-tests/ |access-date=2023-04-24 |website=South Asian Voices |language=en}}</ref> At that juncture, Ishaq Dar was given the additional federal cabinet portfolio of [[Ministry of Finance, Revenue and Economic Affairs|Minister for Finance]]; with the additional charge of Revenue, Economic Affairs & Statistics.<ref name="Tribune/8june2013" /><ref name="dawn/25april2013" /><ref name="AajNews/7june2013">{{cite news|last1=Jamil |first1=Farah |title=26 member Cabinet to take oath today |url=http://aaj.tv/2013/06/26-member-cabinet-to-take-oath-today/ |access-date=31 October 2016 |publisher=Aaj News |date=7 June 2013 |ref=AajNews |url-status=bot: unknown |archive-url=https://web.archive.org/web/20170121082201/http://aaj.tv/2013/06/26-member-cabinet-to-take-oath-today/ |archive-date=21 January 2017 }}</ref>
In 1999, General [[Pervez Musharraf]] overthrew the Sharif ministry in a [[1999 Pakistani coup d'état|military coup d'état]].<ref>{{Cite web |title=Strategic Analysis: Pakistan’s Fourth Military Takeover |url=https://ciaotest.cc.columbia.edu/olj/sa/sa_99chb01.html |access-date=2023-04-24 |website=ciaotest.cc.columbia.edu}}</ref><ref>{{Cite web |title=Washingtonpost.com: Army Seizes Control in Pakistan |url=https://www.washingtonpost.com/wp-srv/inatl/longterm/southasia/stories/pakistan101399.htm |access-date=2023-04-24 |website=The Washington Post}}</ref> Dar spent nearly two years<ref name="pakistantoday/21sept2017" /><ref name="thenews/17march2008" /> in jail under Musharraf over corruption charges that never went to trial.<ref name="bloomberg1">{{cite news|last1=Anwar |first1=Haris |title=Dar Appointed Pakistan's Finance Minister as Growth Falters |url=https://www.bloomberg.com/news/articles/2013-06-08/dar-appointed-pakistan-s-finance-minister-as-growth-falters |access-date=7 October 2016 |publisher=Bloomberg News |date=8 June 2013 |ref=bloomberg1 |url-status=live |archive-url=https://web.archive.org/web/20161029085935/http://www.bloomberg.com/news/articles/2013-06-08/dar-appointed-pakistan-s-finance-minister-as-growth-falters |archive-date=29 October 2016 }}</ref> Dar withstood pressure to politically abandon the PML-N and Sharif,<ref name="nation/30may2013">{{cite news|title=Sharifs quashed plan to install out-of-family CM|url=http://nation.com.pk/30-May-2013/sharifs-quashed-plan-to-install-out-of-family-cm|access-date=28 November 2017|work=The Nation|date=30 May 2013|url-status=live|archive-url=https://web.archive.org/web/20171128090329/http://nation.com.pk/30-May-2013/sharifs-quashed-plan-to-install-out-of-family-cm|archive-date=28 November 2017}}</ref> but during his detention in 2000, Dar accused Nawaz Sharif of having engaged in money laundering in the late 1990s<ref name="dawn/13nov2009">{{cite news |date=13 November 2009 |title=Sharifs used paper mill to whiten money, Dar told court in 2000 |work=DAWN |url=http://www.dawn.com/news/848873 |url-status=bot: unknown |access-date=4 January 2017 |archive-url=https://web.archive.org/web/20170121082400/http://www.dawn.com/news/848873 |archive-date=21 January 2017}}</ref> and, in connection with the Hudabya Papers Mills case, Dar confessed to laundering US$14.86 million on behalf of the Nawaz Sharif.<ref name="herald/12dec2017">{{cite news |date=12 December 2017 |title=The insider: Ishaq Dar |work=Herald Magazine |url=https://herald.dawn.com/news/1153933 |url-status=live |access-date=12 December 2017 |archive-url=https://web.archive.org/web/20171212003151/https://herald.dawn.com/news/1153933 |archive-date=12 December 2017}}</ref><ref name="dawn/2feb2017" /> He later said these statements were made under duress.<ref name="nation/11nov2017">{{cite news|title=What Hudaibiya case is and how it started|url=http://nation.com.pk/11-Nov-2017/what-hudaibiya-case-is-and-how-it-started|access-date=29 November 2017|work=The Nation|date=11 November 2017|url-status=live|archive-url=https://web.archive.org/web/20171201032940/http://nation.com.pk/11-Nov-2017/what-hudaibiya-case-is-and-how-it-started|archive-date=1 December 2017}}</ref> On his release, Musharraf remained in power, and Dar moved to the [[United Arab Emirates]],<ref name="nation/30may2013" /> where he worked as a financial adviser.<ref>{{cite news|title=Ishaq Dar holds no iqama, residence permit: Spokesman|url=https://www.samaa.tv/economy/2017/07/ishaq-dar-holds-no-iqama-residence-permit-spokesman/|access-date=17 August 2017|publisher=[[Samaa TV]]|url-status=live|archive-url=https://web.archive.org/web/20170817163330/https://www.samaa.tv/economy/2017/07/ishaq-dar-holds-no-iqama-residence-permit-spokesman/|archive-date=17 August 2017}}</ref> His clients included a member of the [[Royal families of the United Arab Emirates|ruling family]].<ref name="dawn/25april2013" /> In 2002, he was made President of PML-N's International Affairs wing.<ref name="dawn/25april2013" />


Ishaq Dar attracted limelight, scrutiny and criticism<ref>{{Cite web |title=Twenty-five years later |url=https://www.thenews.com.pk/print/1055021-twenty-five-years-later |access-date=2023-04-24 |website=thenews.com.pk |language=en}}</ref> in the aftermath of Nuclear-related sanctions; but, somehow, he was able to conclude negotiations for an [[International Monetary Fund]] (IMF) [[bailout]] package to deal with an economic crisis.<ref name="pakistantoday/21sept2017" /><ref name="thenews/17march2008" /> Ishaq Dar continued to serve in both cabinet positions until the [[1999 Pakistani coup d'état]]; during which the then-Chief of Army Staff, General [[Pervez Musharraf]], overthrew Nawaz Sharif and his existing elected government.<ref>{{Cite web |title=Strategic Analysis: Pakistan’s Fourth Military Takeover |url=https://ciaotest.cc.columbia.edu/olj/sa/sa_99chb01.html |access-date=2023-04-24 |website=ciaotest.cc.columbia.edu}}</ref><ref>{{Cite web |title=Washingtonpost.com: Army Seizes Control in Pakistan |url=https://www.washingtonpost.com/wp-srv/inatl/longterm/southasia/stories/pakistan101399.htm |access-date=2023-04-24 |website=The Washington Post}}</ref>
===Third Sharif ministry===

Dar spent nearly two years<ref name="pakistantoday/21sept2017" /><ref name="thenews/17march2008" /> in jail under Musharraf over corruption charges that never went to trial.<ref name="bloomberg1">{{cite news|last1=Anwar |first1=Haris |title=Dar Appointed Pakistan's Finance Minister as Growth Falters |url=https://www.bloomberg.com/news/articles/2013-06-08/dar-appointed-pakistan-s-finance-minister-as-growth-falters |access-date=7 October 2016 |publisher=Bloomberg News |date=8 June 2013 |ref=bloomberg1 |url-status=live |archive-url=https://web.archive.org/web/20161029085935/http://www.bloomberg.com/news/articles/2013-06-08/dar-appointed-pakistan-s-finance-minister-as-growth-falters |archive-date=29 October 2016 }}</ref> His tenure as Member of the National Assembly was also terminated after the assembly's dissolution in 1999 as a result of the coup.<ref name="brecorder/23july2017" /><ref>{{cite news|title=MNAs will swear to protect LFO|url=https://www.dawn.com/news/59703|access-date=14 August 2017|work=DAWN|date=1 October 2002|language=en|url-status=live|archive-url=https://web.archive.org/web/20170814100855/https://www.dawn.com/news/59703|archive-date=14 August 2017}}</ref> Dar remained loyal to the PML-N during Musharraf's rule<ref name="Dawn/26march2013">{{cite news|last1=Mahmood |first1=Amjad |title='Loyalists dominate' N parliamentary board |url=http://www.dawn.com/news/798021|access-date=17 October 2016 |work=DAWN|date=26 March 2013 |ref=Dawn/march2013 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029093026/http://www.dawn.com/news/798021/loyalists-dominate-n-parliamentary-board |archive-date=29 October 2016 }}</ref> despite pressure by the Pakistan Army to switch allegiance from Nawaz Sharif.<ref name="nation/30may2013">{{cite news|title=Sharifs quashed plan to install out-of-family CM|url=http://nation.com.pk/30-May-2013/sharifs-quashed-plan-to-install-out-of-family-cm|access-date=28 November 2017|work=The Nation|date=30 May 2013|url-status=live|archive-url=https://web.archive.org/web/20171128090329/http://nation.com.pk/30-May-2013/sharifs-quashed-plan-to-install-out-of-family-cm|archive-date=28 November 2017}}</ref> However, during his detention in 2000, Dar accused Nawaz Sharif of having engaged in money laundering in the late 1990s<ref name="dawn/13nov2009">{{cite news |date=13 November 2009 |title=Sharifs used paper mill to whiten money, Dar told court in 2000 |work=DAWN |url=http://www.dawn.com/news/848873 |url-status=bot: unknown |access-date=4 January 2017 |archive-url=https://web.archive.org/web/20170121082400/http://www.dawn.com/news/848873 |archive-date=21 January 2017}}</ref> and, in connection with the infamous Hudabya Papers Mills case, Dar confessed to laundering US$14.86 million on behalf of the Nawaz Sharif.<ref name="herald/12dec2017">{{cite news |date=12 December 2017 |title=The insider: Ishaq Dar |work=Herald Magazine |url=https://herald.dawn.com/news/1153933 |url-status=live |access-date=12 December 2017 |archive-url=https://web.archive.org/web/20171212003151/https://herald.dawn.com/news/1153933 |archive-date=12 December 2017}}</ref><ref name="dawn/2feb2017" /> Later, he retreated from his statement, saying it had been extracted under duress.<ref name="nation/11nov2017">{{cite news|title=What Hudaibiya case is and how it started|url=http://nation.com.pk/11-Nov-2017/what-hudaibiya-case-is-and-how-it-started|access-date=29 November 2017|work=The Nation|date=11 November 2017|url-status=live|archive-url=https://web.archive.org/web/20171201032940/http://nation.com.pk/11-Nov-2017/what-hudaibiya-case-is-and-how-it-started|archive-date=1 December 2017}}</ref> After having been released from jail<ref name="nation/30may2013" /> during the [[Pervez Musharraf]] rule in Pakistan, Dar moved to the [[United Arab Emirates]], where he worked as a financial adviser<ref>{{cite news|title=Ishaq Dar holds no iqama, residence permit: Spokesman|url=https://www.samaa.tv/economy/2017/07/ishaq-dar-holds-no-iqama-residence-permit-spokesman/|access-date=17 August 2017|publisher=[[Samaa TV]]|url-status=live|archive-url=https://web.archive.org/web/20170817163330/https://www.samaa.tv/economy/2017/07/ishaq-dar-holds-no-iqama-residence-permit-spokesman/|archive-date=17 August 2017}}</ref> to a member of the [[Royal families of the United Arab Emirates|ruling family]], a position he held until 2008.<ref name="dawn/25april2013" /><ref name="ministryfinance/profile">{{cite web|title=Profile – Minister Ishaq Dar |url=http://www.finance.gov.pk/profile_minister.html |publisher=Ministry of Finance |access-date=21 October 2016 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029090258/http://www.finance.gov.pk/profile_minister.html |archive-date=29 October 2016}}</ref> In 2002, he was made President of PML-N's International Affairs wing.<ref name="dawn/25april2013" />

===Third tenure as Pakistan's Federal Minister for Finance & Revenue===
[[File:Pakistan- Economic and Stabilization Prospects.jpg|thumb|Dar while speaking at event, held at [[U.S. Institute of Peace]] in 2014]]
[[File:Pakistan- Economic and Stabilization Prospects.jpg|thumb|Dar while speaking at event, held at [[U.S. Institute of Peace]] in 2014]]
Dar was a member of the PML-N's parliamentary board, charged with the selection of candidates for the [[Pakistani general election, 2013|2013 general election]].<ref name="pakistantoday/21sept2017" /><ref name="Dawn/26march2013">{{cite news |last1=Mahmood |first1=Amjad |date=26 March 2013 |title='Loyalists dominate' N parliamentary board |work=DAWN |url=http://www.dawn.com/news/798021 |url-status=bot: unknown |access-date=17 October 2016 |archive-url=https://web.archive.org/web/20161029093026/http://www.dawn.com/news/798021/loyalists-dominate-n-parliamentary-board |archive-date=29 October 2016 |ref=Dawn/march2013}}</ref> The PML-N won a majority, and Dar resigned as leader of the opposition in the Senate.<ref>{{cite news |date=4 June 2013 |title=Ishaq Dar resigns from Senate opposition seat |work=The Express Tribune |url=https://tribune.com.pk/story/558744/i |url-status=live |access-date=25 November 2017 |archive-url=https://web.archive.org/web/20141005234231/http://tribune.com.pk/story/558744/ishaq-dar-resigns-from-senate-opposition-seat/ |archive-date=5 October 2014}}</ref><ref>{{cite news |title=Senator Ishaq Dar resigns as opposition leader |language=en |work=The News |url=https://www.thenews.com.pk/archive/print/630935 |url-status=live |access-date=25 November 2017 |archive-url=https://web.archive.org/web/20171125123302/https://www.thenews.com.pk/archive/print/630935 |archive-date=25 November 2017}}</ref> He became Minister for Finance<ref name="tribune/22nov2017">{{cite news |date=22 November 2017 |title=Finance Minister Ishaq Dar granted 'indefinite' sick leave, relieved of his duties |work=The Express Tribune |url=https://tribune.com.pk/story/1565767/1 |url-status=live |access-date=23 November 2017 |archive-url=https://web.archive.org/web/20171123074825/https://tribune.com.pk/story/1565767/1-finance-minister-ishaq-dar-granted-sick-leave-relieved-duties/ |archive-date=23 November 2017}}</ref><ref name="khaleejtimes/13may2013">{{cite news |date=13 May 2013 |title=Nawaz Sharif picks finance minister as stocks hit high |work=[[Khaleej Times]] |url=http://www.khaleejtimes.com/article/20130513/ARTICLE/305139981/1030 |url-status=bot: unknown |access-date=7 October 2016 |archive-url=https://web.archive.org/web/20161029085355/http://www.khaleejtimes.com/article/20130513/ARTICLE/305139981/1030 |archive-date=29 October 2016 |ref=khaleejtimes}}</ref><ref>{{cite news |last1=Abdul Manan |date=7 June 2013 |title=PML-N-led federal cabinet takes oath |work=The Express Tribune |url=http://tribune.com.pk/story/560182/p |url-status=bot: unknown |access-date=29 October 2016 |archive-url=https://web.archive.org/web/20161029093053/http://tribune.com.pk/story/560182/pml-n-finalises-cabinet-members/ |archive-date=29 October 2016}}</ref> and was given the additional cabinet portfolios of Revenue, Economic Affairs, Statistics and Privatisation.<ref>{{cite news |date=7 June 2013 |title=Sharif's 25-member cabinet takes oath |work=DAWN |url=https://www.dawn.com/news/1016686 |url-status=live |access-date=25 November 2017 |archive-url=https://web.archive.org/web/20170227063804/https://www.dawn.com/news/1016686 |archive-date=27 February 2017}}</ref> Dar held significant power. He chaired the Special Parliamentary Committee on Election Reforms<ref>{{cite news |date=6 August 2014 |title=Ishaq Dar elected chairman of electoral reforms committee |language=en |work=DAWN |url=http://www.dawn.com/news/1123666 |url-status=live |access-date=21 January 2017 |archive-url=https://web.archive.org/web/20170202004005/http://www.dawn.com/news/1123666 |archive-date=2 February 2017}}</ref> and the [[Economic Coordination Committee (Pakistan)|Economic Coordination Committee]] (ECC).<ref name=":0">{{cite news |last1=Imran Mukhtar |date=12 August 2017 |title=PM replaces Ishaq Dar as head of ECC |work=The Nation |url=http://nation.com.pk/national/12-Aug-2017/pm-replaces-ishaq-dar-as-head-of-ecc |url-status=live |access-date=12 August 2017 |archive-url=https://web.archive.org/web/20170812134404/http://nation.com.pk/national/12-Aug-2017/pm-replaces-ishaq-dar-as-head-of-ecc |archive-date=12 August 2017}}</ref> With [[Maryam Nawaz]], he deputed for the Prime Minister whilst he underwent surgery in the United Kingdom.<ref>{{cite news |date=14 April 2016 |title=Ishaq Dar, Maryam Nawaz to manage govt matters in absence of PM Nawaz |work=[[Pakistan Today]] |url=http://www.pakistantoday.com.pk/2016/04/14/national/ishaq-dar-maryam-nawaz-to-manage-govt-matters-in-absence-of-pm-nawaz/ |url-status=bot: unknown |access-date=14 October 2016 |archive-url=https://web.archive.org/web/20161029093429/http://www.pakistantoday.com.pk/2016/04/14/national/ishaq-dar-maryam-nawaz-to-manage-govt-matters-in-absence-of-pm-nawaz/ |archive-date=29 October 2016}}</ref> ''Dawn'' reported that he headed over "four dozen" committees.<ref name="dawn/27nov2017">{{cite news |last1=Kiani |first1=Khaleeq |date=27 November 2017 |title=The fall of Dar |work=DAWN |url=https://www.dawn.com/news/1373179 |url-status=live |access-date=27 November 2017 |archive-url=https://web.archive.org/web/20171127094209/https://www.dawn.com/news/1373179 |archive-date=27 November 2017}}</ref> In July 2016, the NAB cleared Dar of allegations of corruption involving over Rs 130 billion.<ref>{{cite news |date=16 July 2016 |title=NAB gives a clean chit to Dar in Rs 130bn case |work=DAWN |url=http://www.dawn.com/news/1271183 |url-status=bot: unknown |access-date=14 October 2016 |archive-url=https://web.archive.org/web/20161029093151/http://www.dawn.com/news/1271183 |archive-date=29 October 2016}}</ref> ''Pakistan Today'' reported that a source in the NAB alleged "immense pressure" to clear Dar, even though there was sufficient evidence to convict him.<ref>{{cite news |last1=Mian Abrar |date=15 July 2016 |title=Ishaq Dar walks free from NAB reference |work=Pakistan Today |url=http://www.pakistantoday.com.pk/2016/07/15/national/ishaq-dar-walks-free-from-nab-reference/ |url-status=bot: unknown |access-date=14 October 2016 |archive-url=https://web.archive.org/web/20161029093232/http://www.pakistantoday.com.pk/2016/07/15/national/ishaq-dar-walks-free-from-nab-reference/ |archive-date=29 October 2016}}</ref>
For the [[Pakistani general election, 2013|2013 general election]], Dar was made part of the PML-N's central parliamentary board tasked with selecting candidates for the election.<ref name="pakistantoday/21sept2017" /><ref name="Dawn/26march2013" /> Upon the victory of the PML-N in the 2013 general election, Dar resigned from his position as Opposition Leader in the Senate<ref>{{cite news |date=4 June 2013 |title=Ishaq Dar resigns from Senate opposition seat |work=The Express Tribune |url=https://tribune.com.pk/story/558744/i |url-status=live |access-date=25 November 2017 |archive-url=https://web.archive.org/web/20141005234231/http://tribune.com.pk/story/558744/ishaq-dar-resigns-from-senate-opposition-seat/ |archive-date=5 October 2014}}</ref><ref>{{cite news |title=Senator Ishaq Dar resigns as opposition leader |language=en |work=The News |url=https://www.thenews.com.pk/archive/print/630935 |url-status=live |access-date=25 November 2017 |archive-url=https://web.archive.org/web/20171125123302/https://www.thenews.com.pk/archive/print/630935 |archive-date=25 November 2017}}</ref> and was invited to join the federal cabinet after the government was formed by Prime Minister Nawaz Sharif in June 2013. He was for the third time made the Federal Minister for Finance<ref name="tribune/22nov2017">{{cite news |date=22 November 2017 |title=Finance Minister Ishaq Dar granted 'indefinite' sick leave, relieved of his duties |work=The Express Tribune |url=https://tribune.com.pk/story/1565767/1 |url-status=live |access-date=23 November 2017 |archive-url=https://web.archive.org/web/20171123074825/https://tribune.com.pk/story/1565767/1-finance-minister-ishaq-dar-granted-sick-leave-relieved-duties/ |archive-date=23 November 2017}}</ref><ref name="khaleejtimes/13may2013">{{cite news |date=13 May 2013 |title=Nawaz Sharif picks finance minister as stocks hit high |work=[[Khaleej Times]] |url=http://www.khaleejtimes.com/article/20130513/ARTICLE/305139981/1030 |url-status=bot: unknown |access-date=7 October 2016 |archive-url=https://web.archive.org/web/20161029085355/http://www.khaleejtimes.com/article/20130513/ARTICLE/305139981/1030 |archive-date=29 October 2016 |ref=khaleejtimes}}</ref><ref>{{cite news |last1=Abdul Manan |date=7 June 2013 |title=PML-N-led federal cabinet takes oath |work=The Express Tribune |url=http://tribune.com.pk/story/560182/p |url-status=bot: unknown |access-date=29 October 2016 |archive-url=https://web.archive.org/web/20161029093053/http://tribune.com.pk/story/560182/pml-n-finalises-cabinet-members/ |archive-date=29 October 2016}}</ref> and was given the additional cabinet portfolios of Revenue, Economic Affairs, Statistics and Privatisation.<ref>{{cite news |date=7 June 2013 |title=Sharif's 25-member cabinet takes oath |work=DAWN |url=https://www.dawn.com/news/1016686 |url-status=live |access-date=25 November 2017 |archive-url=https://web.archive.org/web/20170227063804/https://www.dawn.com/news/1016686 |archive-date=27 February 2017}}</ref> In 2014 Dar was given the chairmanship of the Special Parliamentary Committee on Election Reforms<ref>{{cite news |date=6 August 2014 |title=Ishaq Dar elected chairman of electoral reforms committee |language=en |work=DAWN |url=http://www.dawn.com/news/1123666 |url-status=live |access-date=21 January 2017 |archive-url=https://web.archive.org/web/20170202004005/http://www.dawn.com/news/1123666 |archive-date=2 February 2017}}</ref> and of [[Economic Coordination Committee (Pakistan)|Economic Coordination Committee]] by Nawaz Sharif.<ref>{{cite news |last1=Imran Mukhtar |date=12 August 2017 |title=PM replaces Ishaq Dar as head of ECC |work=The Nation |url=http://nation.com.pk/national/12-Aug-2017/pm-replaces-ishaq-dar-as-head-of-ecc |url-status=live |access-date=12 August 2017 |archive-url=https://web.archive.org/web/20170812134404/http://nation.com.pk/national/12-Aug-2017/pm-replaces-ishaq-dar-as-head-of-ecc |archive-date=12 August 2017}}</ref> During the third premiership of Nawaz Sharif, Dar was considered so powerful<ref name="tribune/17aug2017">{{cite news |last1=Shehbaz |first1=Rana |date=17 August 2017 |title=PM takes the helm as Dar removed from CCOP too |work=The Express Tribune |url=https://tribune.com.pk/story/1483453/p |url-status=live |access-date=17 August 2017 |archive-url=https://web.archive.org/web/20170817123132/https://tribune.com.pk/story/1483453/pm-takes-helm-dar-removed-ccop/ |archive-date=17 August 2017}}</ref> that he was dubbed the de{{nbsp}}facto Deputy Prime Minister of Pakistan,<ref name="dawn/27nov2017">{{cite news |last1=Kiani |first1=Khaleeq |date=27 November 2017 |title=The fall of Dar |work=DAWN |url=https://www.dawn.com/news/1373179 |url-status=live |access-date=27 November 2017 |archive-url=https://web.archive.org/web/20171127094209/https://www.dawn.com/news/1373179 |archive-date=27 November 2017}}</ref><ref name="pakistantoday/21sept2017" /><ref name="dawn/17aug2017">{{cite news |last1=Husain |first1=Khurram |date=17 August 2017 |title=The diminished Mr Dar |language=en |work=DAWN |url=https://www.dawn.com/news/1352015 |url-status=live |access-date=17 August 2017 |archive-url=https://web.archive.org/web/20170817093232/https://www.dawn.com/news/1352015/the-diminished-mr-dar |archive-date=17 August 2017}}</ref><ref name="nation/17aug2017">{{cite news |last=Imran Ali Kundi |date=17 August 2017 |title=Dar's role minimised in PM Abbasi's govt |work=The Nation |url=http://nation.com.pk/newspaper-picks/17-Aug-2017/dar-s-role-minimised-in-pm-abbasi-s-govt |url-status=live |access-date=17 August 2017 |archive-url=https://web.archive.org/web/20170817062623/http://nation.com.pk/newspaper-picks/17-Aug-2017/dar-s-role-minimised-in-pm-abbasi-s-govt |archive-date=17 August 2017}}</ref> mainly because of his family relationship with Nawaz Sharif.<ref name="tribune/22nov2017" /> At one point he was serving as the chairman of over 45 committees.<ref name="dawn/27nov2017" /><ref name="tribune/17aug2017" /> Dar was considered the most powerful member of Nawaz Sharif cabinet<ref name="herald/12dec2017" /> who in 2016, looked after important government matters when Nawaz Sharif underwent heart surgery in the United Kingdom.<ref>{{cite news |date=14 April 2016 |title=Ishaq Dar, Maryam Nawaz to manage govt matters in absence of PM Nawaz |work=[[Pakistan Today]] |url=http://www.pakistantoday.com.pk/2016/04/14/national/ishaq-dar-maryam-nawaz-to-manage-govt-matters-in-absence-of-pm-nawaz/ |url-status=bot: unknown |access-date=14 October 2016 |archive-url=https://web.archive.org/web/20161029093429/http://www.pakistantoday.com.pk/2016/04/14/national/ishaq-dar-maryam-nawaz-to-manage-govt-matters-in-absence-of-pm-nawaz/ |archive-date=29 October 2016}}</ref>

In July 2016 the [[National Accountability Bureau]] (NAB) cleared Dar in an over Rs{{nbsp}}130 billion corruption case. Dar had previously stated several times that he was facing no corruption case; however, the closing of an investigation against him negated his earlier claims. The NAB had included Dar's case in the list of 179 mega-corruption cases since 2001.<ref>{{cite news |date=16 July 2016 |title=NAB gives a clean chit to Dar in Rs 130bn case |work=DAWN |url=http://www.dawn.com/news/1271183 |url-status=bot: unknown |access-date=14 October 2016 |archive-url=https://web.archive.org/web/20161029093151/http://www.dawn.com/news/1271183 |archive-date=29 October 2016}}</ref> It was reported that the case was closed due to "immense pressure" from within the NAB or from the federal government despite the fact that enough evidence was available against Dar for a conviction.<ref>{{cite news |last1=Mian Abrar |date=15 July 2016 |title=Ishaq Dar walks free from NAB reference |work=Pakistan Today |url=http://www.pakistantoday.com.pk/2016/07/15/national/ishaq-dar-walks-free-from-nab-reference/ |url-status=bot: unknown |access-date=14 October 2016 |archive-url=https://web.archive.org/web/20161029093232/http://www.pakistantoday.com.pk/2016/07/15/national/ishaq-dar-walks-free-from-nab-reference/ |archive-date=29 October 2016}}</ref>


In July 2017, the [[Supreme Court of Pakistan|Supreme Court]] disqualified both Dar and Sharif from office, following the publication of the [[Panama Papers case (Pakistan)|Panama Papers]].<ref>{{cite news |last=Drazen Jorgic |date=2017 |title=Pakistan's Supreme Court disqualifies Finance Minister Ishaq Dar: media |agency=[[Reuters]] |url=https://www.reuters.com/article/idUSKBN1AD0V6?il=0 |url-status=live |access-date=7 August 2017 |archive-url=https://web.archive.org/web/20170807232413/http://www.reuters.com/article/us-pakistan-politics-finmin-idUSKBN1AD0V6?il=0 |archive-date=7 August 2017}}</ref> Sharif's successor, [[Shahid Khaqan Abbasi]], reappointed him as Finance Minister despite the ruling,<ref>{{cite news |last=Drazen Jorgic |date=2017 |title=Pakistan's new PM forms cabinet with an eye to 2018 poll |agency=Reuters |url=https://www.reuters.com/article/idUSKBN1AK09A |url-status=live |access-date=4 August 2017 |archive-url=https://web.archive.org/web/20170806053632/https://www.reuters.com/article/us-pakistan-politics-idUSKBN1AK09A |archive-date=6 August 2017}}</ref> but reduced his powers. Dar was replaced as Chair of the ECC<ref name=":0" /> and a committee on privatisation.<ref name="tribune/17aug2017">{{cite news |last1=Shehbaz |first1=Rana |date=17 August 2017 |title=PM takes the helm as Dar removed from CCOP too |work=The Express Tribune |url=https://tribune.com.pk/story/1483453/p |url-status=live |access-date=17 August 2017 |archive-url=https://web.archive.org/web/20170817123132/https://tribune.com.pk/story/1483453/pm-takes-helm-dar-removed-ccop/ |archive-date=17 August 2017}}</ref> The finance ministry was split.<ref>{{cite news |title=PM constitutes seven new ministries |work=[[The Nation (Pakistan)|The Nation]] |url=http://nation.com.pk/05-Aug-2017/pm-constitutes-seven-new-ministries |url-status=live |access-date=25 November 2017 |archive-url=https://web.archive.org/web/20171125071717/http://nation.com.pk/05-Aug-2017/pm-constitutes-seven-new-ministries |archive-date=25 November 2017}}</ref> The ''Nation'' reported that Dar wished to leave the cabinet but that it was impossible to relieve him of all responsibility immediately due to the extent of his former responsibilities.<ref name="nation/17aug2017">{{cite news |last=Imran Ali Kundi |date=17 August 2017 |title=Dar's role minimised in PM Abbasi's govt |work=The Nation |url=http://nation.com.pk/newspaper-picks/17-Aug-2017/dar-s-role-minimised-in-pm-abbasi-s-govt |url-status=live |access-date=17 August 2017 |archive-url=https://web.archive.org/web/20170817062623/http://nation.com.pk/newspaper-picks/17-Aug-2017/dar-s-role-minimised-in-pm-abbasi-s-govt |archive-date=17 August 2017}}</ref> Dar also was removed as chairman of 35 National Assembly committees by<ref>{{cite news |last1=Sarfraz Ali |date=20 August 2017 |title=PM Abbasi decides to remove Dar from chairmanship of 12 committees |work=[[Daily Pakistan]] |url=https://en.dailypakistan.com.pk/business/pm-abbasi-decides-to-remove-dar-from-chairmanship-of-12-committees/ |url-status=live |access-date=20 August 2017 |archive-url=https://web.archive.org/web/20170820203200/https://en.dailypakistan.com.pk/business/pm-abbasi-decides-to-remove-dar-from-chairmanship-of-12-committees/ |archive-date=20 August 2017}}</ref> thus further reducing Dar's influence.<ref>{{cite news |last1=Kiani |first1=Khaleeq |date=21 August 2017 |title=Can Abbasi leave a lasting impression? |language=en |work=DAWN |url=https://www.dawn.com/news/1352860 |url-status=live |access-date=21 August 2017 |archive-url=https://web.archive.org/web/20170821035600/https://www.dawn.com/news/1352860/can-abbasi-leave-a-lasting-impression |archive-date=21 August 2017}}</ref> It was noted that the move to limit Dar to the Ministry of Finance only was made at the direction of the Sharif family.<ref>{{cite news |last1=Ghulam Abbas |date=30 August 2017 |title=Dar to lose revenue division after Akhtar's appointment |work=Pakistan Today |url=https://www.pakistantoday.com.pk/2017/08/29/dar-to-lose-revenue-division-after-akhtars-appointment/ |url-status=live |access-date=30 August 2017 |archive-url=https://web.archive.org/web/20170830150826/https://www.pakistantoday.com.pk/2017/08/29/dar-to-lose-revenue-division-after-akhtars-appointment/ |archive-date=30 August 2017}}</ref> In September 2017 a NAB court in Pakistan indicted Dar in the Panama Papers corruption case for having wealth beyond his known sources of income,<ref>{{cite news |date=27 September 2017 |title=Pak Finance Minister Ishaq Dar indicted in corruption case |language=en-IN |work=[[The Hindu]] |url=http://www.thehindu.com/news/international/pak-finance-minister-ishaq-dar-indicted-in-corruption-case/article19761428.ece |url-status=live |access-date=27 September 2017 |archive-url=https://web.archive.org/web/20171119093740/http://www.thehindu.com/news/international/pak-finance-minister-ishaq-dar-indicted-in-corruption-case/article19761428.ece |archive-date=19 November 2017}}</ref><ref>{{cite news |author=Khattak Inamullah |date=27 September 2017 |title=NAB court indicts Ishaq Dar in corruption case, hearing to start 4 Oct |work=DAWN |url=https://www.dawn.com/news/1360358 |url-status=live |access-date=27 September 2017 |archive-url=https://web.archive.org/web/20170927100021/https://www.dawn.com/news/1360358 |archive-date=27 September 2017}}</ref> but, despite criticism from the opposition parties, he continued to serve as finance minister.<ref name="dawn/19nov2017">{{cite news |last1=Wasim |first1=Amir |date=19 November 2017 |title=Dar will decide himself whether to quit or not: PM spokesman |work=Dawn |url=https://www.dawn.com/news/1371503 |url-status=live |access-date=19 November 2017 |archive-url=https://web.archive.org/web/20171119093740/https://www.dawn.com/news/1371503/dar-will-decide-himself-whether-to-quit-or-not-pm-spokesman |archive-date=19 November 2017}}</ref> In October 2017 he fell ill while in Saudi Arabia and left for the United Kingdom for medical treatment.<ref>{{cite news |last1=Imran |first1=Mohammad |date=30 October 2017 |title=Ishaq Dar in London due to 'ill health', court issues bailable warrants for his arrest |work=DAWN |url=https://www.dawn.com/news/1367236 |url-status=live |access-date=14 November 2017 |archive-url=https://web.archive.org/web/20171114202148/https://www.dawn.com/news/1367236 |archive-date=14 November 2017}}</ref><ref>{{cite news |title=Ishaq Dar admitted in hospital for 'heart procedure' |publisher=[[Geo News]] |url=https://www.geo.tv/latest/165892 |url-status=live |access-date=14 November 2017 |archive-url=https://web.archive.org/web/20171114202014/https://www.geo.tv/latest/165892-dar-to-undergo |archive-date=14 November 2017}}</ref>
Dar was disqualified to hold the office of Minister of Finance on 28 July 2017 by the [[Supreme Court of Pakistan]] after then-Prime Minister Nawaz Sharif was also disqualified by the same court following a decision in the [[Panama Papers case (Pakistan)|Panama Papers case]].<ref>{{cite news |last=Drazen Jorgic |date=2017 |title=Pakistan's Supreme Court disqualifies Finance Minister Ishaq Dar: media |agency=[[Reuters]] |url=https://www.reuters.com/article/idUSKBN1AD0V6?il=0 |url-status=live |access-date=7 August 2017 |archive-url=https://web.archive.org/web/20170807232413/http://www.reuters.com/article/us-pakistan-politics-finmin-idUSKBN1AD0V6?il=0 |archive-date=7 August 2017}}</ref> On the same day Dar ceased to hold ministerial office when the federal cabinet was disbanded after Nawaz Sharif resigned as Prime Minister.<ref>{{cite news |last=Sarfraz Ali |title=PM Nawaz Sharif steps down; federal cabinet stands dissolved |work=Daily Pakistan |url=https://en.dailypakistan.com.pk/pakistan/pm-nawaz-gives-up-his-post-federal-cabinet-stands-dissolved/ |url-status=dead |access-date=2 August 2017 |archive-url=https://web.archive.org/web/20170728114411/https://en.dailypakistan.com.pk/pakistan/pm-nawaz-gives-up-his-post-federal-cabinet-stands-dissolved/ |archive-date=28 July 2017}}</ref> Following the election of [[Shahid Khaqan Abbasi]] as the new prime minister in early August 2017, Dar was invited to join the federal cabinet of Abbasi despite his disqualification and an investigation having been ordered against him by the Supreme Court.<ref>{{cite news |last=Drazen Jorgic |date=2017 |title=Pakistan's new PM forms cabinet with an eye to 2018 poll |agency=Reuters|url=https://www.reuters.com/article/idUSKBN1AK09A |url-status=live |access-date=4 August 2017 |archive-url=https://web.archive.org/web/20170806053632/https://www.reuters.com/article/us-pakistan-politics-idUSKBN1AK09A |archive-date=6 August 2017}}</ref> He was inducted into the cabinet and was re-appointed to the same portfolio in the Government as the Federal Minister for Finance<ref>{{cite news |last=Sanaullah Khan |date=4 August 2017 |title=PM Abbasi's cabinet takes oath |language=en |work=DAWN |url=https://www.dawn.com/news/1349562 |url-status=live |access-date=4 August 2017 |archive-url=https://web.archive.org/web/20170804213932/https://www.dawn.com/news/1349562/pm-abbasis-cabinet-takes-oath |archive-date=4 August 2017}}</ref><ref>{{cite news |date=4 August 2017 |title=Pakistan's new PM forms cabinet; Ishaq Dar returns as finance minister |language=en |work=Deccan Chronicle |url=https://www.deccanchronicle.com/world/neighbours/040817/pakistans-new-pm-forms-cabinet-ishaq-dar-returns-as-finance-minister.html |url-status=live |access-date=4 August 2017 |archive-url=https://web.archive.org/web/20170804134819/http://www.deccanchronicle.com/world/neighbours/040817/pakistans-new-pm-forms-cabinet-ishaq-dar-returns-as-finance-minister.html |archive-date=4 August 2017}}</ref><ref>{{cite news |date=4 August 2017 |title=Pakistan Swears in New Federal Cabinet |work=Newsweek Pakistan |url=http://newsweekpakistan.com/pakistan-swears-in-new-federal-cabinet/ |url-status=live |access-date=4 August 2017 |archive-url=https://web.archive.org/web/20170804174632/http://newsweekpakistan.com/pakistan-swears-in-new-federal-cabinet/ |archive-date=4 August 2017}}</ref> however with lesser powers as Shahid Khaqan Abbasi in order to minimize the role of Dar in government affairs had bifurcated the Ministry of Finance, Revenue, Economic Affairs, Statistics and Privatisation into three separate ministires by separating Statistics and Privatisation, with Dar heading ministry comprising three divisions – Finance, Revenue, Economic Affairs.<ref name="dawn/5sept2017">{{cite news |last1=Kiani |first1=Khaleeq |date=5 September 2017 |title=In his first month, Abbasi talks energy |work=DAWN |url=https://www.dawn.com/news/1355748 |url-status=live |access-date=19 December 2017 |archive-url=https://web.archive.org/web/20171222073743/https://www.dawn.com/news/1355748 |archive-date=22 December 2017}}</ref><ref>{{cite news |title=PM constitutes seven new ministries |work=[[The Nation (Pakistan)|The Nation]] |url=http://nation.com.pk/05-Aug-2017/pm-constitutes-seven-new-ministries |url-status=live |access-date=25 November 2017 |archive-url=https://web.archive.org/web/20171125071717/http://nation.com.pk/05-Aug-2017/pm-constitutes-seven-new-ministries |archive-date=25 November 2017}}</ref><ref name="dawn/17aug2017" /><ref name="nation/17aug2017" /> He was removed from the chairmanship of major policymaking bodies such as the [[Economic Coordination Committee (Pakistan)|Economic Coordination Committee]]<ref>{{cite news |last1=Sherani |first1=Tahir |date=11 August 2017 |title=PM takes charge of ECC after removing Ishaq Dar as chairman |language=en |work=DAWN |url=https://www.dawn.com/news/1350955 |url-status=live |access-date=11 August 2017 |archive-url=https://web.archive.org/web/20170811144859/https://www.dawn.com/news/1350955/pm-takes-charge-of-ecc-after-removing-ishaq-dar-as-chairman |archive-date=11 August 2017}}</ref><ref>{{cite news |date=23 November 2017 |title=Dar not to attend Pak-Russia Inter-Governmental Commission meeting |work=Pakistan Today |url=https://www.pakistantoday.com.pk/2017/11/22/dar-not-to-attend-pak-russia-inter-governmental-commission-meeting/ |url-status=live |access-date=23 November 2017 |archive-url=https://web.archive.org/web/20171124053842/https://www.pakistantoday.com.pk/2017/11/22/dar-not-to-attend-pak-russia-inter-governmental-commission-meeting/ |archive-date=24 November 2017}}</ref> and the [[Council of Common Interests]].<ref>{{cite news |date=13 November 2017 |title=Dar replaced by Ahsan in CCI |work=The Express Tribune |url=https://tribune.com.pk/story/1557124/1 |url-status=live |access-date=14 November 2017 |archive-url=https://web.archive.org/web/20171114145358/https://tribune.com.pk/story/1557124/1-dar-removed-cci-replaced-ahsan-iqbal/ |archive-date=14 November 2017}}</ref> On 20 August 2017 he was removed from the chairmanship of some 35 National Assembly committees by Shahid Khaqan Abbasi<ref>{{cite news |last1=Sarfraz Ali |date=20 August 2017 |title=PM Abbasi decides to remove Dar from chairmanship of 12 committees |work=[[Daily Pakistan]] |url=https://en.dailypakistan.com.pk/business/pm-abbasi-decides-to-remove-dar-from-chairmanship-of-12-committees/ |url-status=live |access-date=20 August 2017 |archive-url=https://web.archive.org/web/20170820203200/https://en.dailypakistan.com.pk/business/pm-abbasi-decides-to-remove-dar-from-chairmanship-of-12-committees/ |archive-date=20 August 2017}}</ref> thus further reducing Dar's influence.<ref>{{cite news |last1=Kiani |first1=Khaleeq |date=21 August 2017 |title=Can Abbasi leave a lasting impression? |language=en |work=DAWN |url=https://www.dawn.com/news/1352860 |url-status=live |access-date=21 August 2017 |archive-url=https://web.archive.org/web/20170821035600/https://www.dawn.com/news/1352860/can-abbasi-leave-a-lasting-impression |archive-date=21 August 2017}}</ref> It was noted that the move to limit Dar to the Ministry of Finance only was made at the direction of the Sharif family.<ref>{{cite news |last1=Ghulam Abbas |date=30 August 2017 |title=Dar to lose revenue division after Akhtar's appointment |work=Pakistan Today |url=https://www.pakistantoday.com.pk/2017/08/29/dar-to-lose-revenue-division-after-akhtars-appointment/ |url-status=live |access-date=30 August 2017 |archive-url=https://web.archive.org/web/20170830150826/https://www.pakistantoday.com.pk/2017/08/29/dar-to-lose-revenue-division-after-akhtars-appointment/ |archive-date=30 August 2017}}</ref> In September 2017 a NAB court in Pakistan indicted Dar in the Panama Papers corruption case for having wealth beyond his known sources of income,<ref>{{cite news |date=27 September 2017 |title=Pak Finance Minister Ishaq Dar indicted in corruption case |language=en-IN |work=[[The Hindu]] |url=http://www.thehindu.com/news/international/pak-finance-minister-ishaq-dar-indicted-in-corruption-case/article19761428.ece |url-status=live |access-date=27 September 2017 |archive-url=https://web.archive.org/web/20171119093740/http://www.thehindu.com/news/international/pak-finance-minister-ishaq-dar-indicted-in-corruption-case/article19761428.ece |archive-date=19 November 2017}}</ref><ref>{{cite news |author=Khattak Inamullah |date=27 September 2017 |title=NAB court indicts Ishaq Dar in corruption case, hearing to start 4 Oct |work=DAWN |url=https://www.dawn.com/news/1360358 |url-status=live |access-date=27 September 2017 |archive-url=https://web.archive.org/web/20170927100021/https://www.dawn.com/news/1360358 |archive-date=27 September 2017}}</ref> but, despite criticism from the opposition parties, he continued to serve as finance minister.<ref name="dawn/19nov2017">{{cite news |last1=Wasim |first1=Amir |date=19 November 2017 |title=Dar will decide himself whether to quit or not: PM spokesman |work=Dawn |url=https://www.dawn.com/news/1371503 |url-status=live |access-date=19 November 2017 |archive-url=https://web.archive.org/web/20171119093740/https://www.dawn.com/news/1371503/dar-will-decide-himself-whether-to-quit-or-not-pm-spokesman |archive-date=19 November 2017}}</ref> In October 2017 he fell ill while in Saudi Arabia and left for the United Kingdom for medical treatment.<ref>{{cite news |last1=Imran |first1=Mohammad |date=30 October 2017 |title=Ishaq Dar in London due to 'ill health', court issues bailable warrants for his arrest |work=DAWN |url=https://www.dawn.com/news/1367236 |url-status=live |access-date=14 November 2017 |archive-url=https://web.archive.org/web/20171114202148/https://www.dawn.com/news/1367236 |archive-date=14 November 2017}}</ref><ref>{{cite news |title=Ishaq Dar admitted in hospital for 'heart procedure' |publisher=[[Geo News]] |url=https://www.geo.tv/latest/165892 |url-status=live |access-date=14 November 2017 |archive-url=https://web.archive.org/web/20171114202014/https://www.geo.tv/latest/165892-dar-to-undergo |archive-date=14 November 2017}}</ref>


In November 2017 the court issued a non-bailable arrest warrant for him while he was in London<ref>{{cite news |title=Warrant issued for Dar's arrest |language=en |work=The News |url=https://www.thenews.com.pk/print/244411 |url-status=live |access-date=16 November 2017 |archive-url=https://web.archive.org/web/20171116024926/http://thenews.com.pk/print/244411-Warrant-issued-for-Dars-arrest |archive-date=16 November 2017}}</ref> for not appearing in court.<ref name="dawn/19nov2017" /> It was reported that he may lose his ministerial portfolio due to the corruption case against him<ref>{{cite news |title=Ishaq Dar likely to lose ministerial slot |work=The Nation |url=http://nation.com.pk/14-Nov-2017/ishaq-dar-likely-to-lose-ministerial-slot |url-status=live |access-date=14 November 2017 |archive-url=https://web.archive.org/web/20171114054308/http://nation.com.pk/14-Nov-2017/ishaq-dar-likely-to-lose-ministerial-slot |archive-date=14 November 2017}}</ref> on the grounds that he has become ineffective and unable to carry out the responsibilities of a Minister.<ref name="pakistantoday/16nov2017">{{cite news |date=16 November 2017 |title=Ahsan Iqbal likely to take charge of Finance Ministry |work=Pakistan Today |url=https://profit.pakistantoday.com.pk/2017/11/16/ahsan-iqbal-likely-to-replace-ishaq-dar-as-finance-minister/ |url-status=dead |access-date=16 November 2017 |archive-url=https://web.archive.org/web/20171127100223/https://profit.pakistantoday.com.pk/2017/11/16/ahsan-iqbal-likely-to-replace-ishaq-dar-as-finance-minister/ |archive-date=27 November 2017}}</ref><ref>{{cite news |date=15 November 2017 |title=Ahsan Iqbal all set to wear three hats |work=The Express Tribune |url=https://tribune.com.pk/story/1559543/1-ahsan-iqbal-verge-becoming-finance-minister/ |url-status=live |access-date=16 November 2017 |archive-url=https://web.archive.org/web/20171119093740/https://tribune.com.pk/story/1559543/1-ahsan-iqbal-verge-becoming-finance-minister/ |archive-date=19 November 2017}}</ref> On 21{{nbsp}}November a court declared him an absconder.<ref>{{cite news |last1=Imran |first1=Mohammad |date=21 November 2017 |title=Accountability court declares Ishaq Dar an absconder |work=DAWN |url=https://www.dawn.com/news/1371931 |url-status=live |access-date=21 November 2017 |archive-url=https://web.archive.org/web/20171121092015/https://www.dawn.com/news/1371931/accountability-court-declares-ishaq-dar-an-absconder |archive-date=21 November 2017}}</ref> Amid the rumours that he had already resigned from the ministerial office due to pressure and criticism,<ref>{{cite news |date=21 November 2017 |title=The PM must ask Dar to resign |work=Daily Times |url=https://dailytimes.com.pk/143967 |url-status=live |access-date=23 November 2017 |archive-url=https://web.archive.org/web/20171121022549/https://dailytimes.com.pk/143967/pm-must-ask-dar-resign/ |archive-date=21 November 2017}}</ref><ref>{{cite news |title=PM 'running' finance ministry for now |work=The Nation |url=http://nation.com.pk/19-Nov-2017/pm-running-finance-ministry-for-now?show=preview |url-status=live |access-date=19 November 2017 |archive-url=https://web.archive.org/web/20171119093739/http://nation.com.pk/19-Nov-2017/pm-running-finance-ministry-for-now?show=previewutm_medium=PoliticsNewz |archive-date=19 November 2017}}</ref> he on 22{{nbsp}}November vacated the ministerial office of Finance<ref name="dawn/23nov2017">{{cite news |last1=Khan |first1=Mubarak Zeb |date=23 November 2017 |title=Curtains for Dar after finance job taken away |work=DAWN |url=https://www.dawn.com/news/1372330 |url-status=live |access-date=23 November 2017 |archive-url=https://web.archive.org/web/20171123074825/https://www.dawn.com/news/1372330/curtains-for-dar-after-finance-job-taken-away |archive-date=23 November 2017}}</ref> after taking a medical leave<ref name="tribune/22nov2017" /> His cabinet portfolio of Finance Minister was withdrawn<ref name="dawn/27nov2017" /> however, he continued to remain a member of the federal cabinet<ref name="tribune/24nov2017">{{cite news |date=24 November 2017 |title=An exit foretold |work=The Express Tribune |url=https://tribune.com.pk/story/1566635/6 |url-status=live |access-date=24 November 2017 |archive-url=https://web.archive.org/web/20171124053843/https://tribune.com.pk/story/1566635/6-an-exit-foretold/ |archive-date=24 November 2017}}</ref><ref name="dawn/23nov2017" /> as a federal minister without portfolio.<ref name="tribune/22nov2017" /> It was noted that Dar has refused to leave the Finance Ministry and that he took a temporary medical leave for three months after which he may retook the office upon his return to Pakistan.<ref>{{cite news |date=25 November 2017 |title=Dar's dilemma |work=Daily Times |url=https://dailytimes.com.pk/146652 |url-status=live |access-date=25 November 2017 |archive-url=https://web.archive.org/web/20171125071717/https://dailytimes.com.pk/146652/dars-dilemma/ |archive-date=25 November 2017}}</ref> During his third tenure as Finance Minister, he has been credited for stabilizing the economy of Pakistan<ref>{{cite news |date=16 December 2017 |title=Special report: At the crossroads 2013-2017 |work=DAWN |url=https://www.dawn.com/news/1375944/special-report-at-the-crossroads-2013-2017 |url-status=live |access-date=16 December 2017 |archive-url=https://web.archive.org/web/20171216151028/https://www.dawn.com/news/1375944/special-report-at-the-crossroads-2013-2017 |archive-date=16 December 2017}}</ref><ref>{{cite news |last1=Farhan Bokhari |first1=Amy Kazmin |date=28 July 2017 |title=Nawaz Sharif ousted as Pakistan's premier in corruption case |work=Financial Times|location=London |url=https://www.ft.com/content/b5b046de-7368-11e7-aca6-c6bd07df1a3c |url-status=live |access-date=28 November 2017 |archive-url=https://web.archive.org/web/20171011024240/https://www.ft.com/content/b5b046de-7368-11e7-aca6-c6bd07df1a3c |archive-date=11 October 2017}}</ref> for three years after 2013;<ref name="dawn/27nov2017" /><ref name="tribune/22nov2017" /><ref>{{cite news |last1=Haider |first1=Mehtab |title=Missing in action |language=en |work=The News |url=https://www.thenews.com.pk/magazine/money-matters/243749- |url-status=live |access-date=23 November 2017 |archive-url=https://web.archive.org/web/20171119054914/https://www.thenews.com.pk/magazine/money-matters/243749-Missing-in-action |archive-date=19 November 2017}}</ref> in particularly steering country out of balance of payments crisis in 2013.<ref>{{cite news |last1=Syed Raza Hassan |date=26 September 2017 |title=Pakistan searches for new finance minister after Dar relieved of duties |agency=Reuters|url=https://www.reuters.com/article/idUSKBN1DN1I1 |url-status=live |access-date=28 November 2017 |archive-url=https://web.archive.org/web/20171126065503/https://www.reuters.com/article/us-pakistan-finmin/pakistan-searches-for-new-finance-minister-after-dar-relieved-of-duties-idUSKBN1DN1I1 |archive-date=26 November 2017}}</ref><ref>{{cite news |date=28 July 2017 |title=How Pakistan's Prime Minister Nawaz Sharif was brought down by a font |work=The Independent |url=http://dev.independent.co.uk/news/world/asia/pakistan-prime-minister-nawaz-sharif-corruption-supreme-court-disqualified-oust-kicked-out-charges-a7864116.html |url-status=live |access-date=28 November 2017 |archive-url=https://web.archive.org/web/20171128090330/http://dev.independent.co.uk/news/world/asia/pakistan-prime-minister-nawaz-sharif-corruption-supreme-court-disqualified-oust-kicked-out-charges-a7864116.html |archive-date=28 November 2017}}</ref><ref>{{cite news |title=Pakistan's Supreme Court disqualifies Finance Minister Ishaq Dar: media |agency=Reuters|url=https://www.reuters.com/article/idUSKBN1AD0V6 |url-status=live |access-date=24 November 2017 |archive-url=https://web.archive.org/web/20171002120022/https://www.reuters.com/article/us-pakistan-politics-finmin/pakistans-supreme-court-disqualifies-finance-minister-ishaq-dar-media-idUSKBN1AD0V6 |archive-date=2 October 2017}}</ref> The economic policies of Dar, referred to by some as Darnomics,<ref>{{cite news |last1=Bokhari |first1=Farhan |date=27 November 2017 |title='Darnomics' legacy |work=DAWN |url=https://www.dawn.com/news/1373028 |url-status=live |access-date=5 December 2017 |archive-url=https://web.archive.org/web/20171206005850/https://www.dawn.com/news/1373028 |archive-date=6 December 2017}}</ref><ref>{{cite news |title=Darnomics all the way |work=Pakistan Today |url=https://www.pakistantoday.com.pk/2017/08/06/darnomics-all-the-way/ |url-status=live |access-date=5 December 2017 |archive-url=https://web.archive.org/web/20171205150518/https://www.pakistantoday.com.pk/2017/08/06/darnomics-all-the-way/ |archive-date=5 December 2017}}</ref> were commended by international media and economic experts for reviving economy of Pakistan<ref name="thenews/24nov2017">{{cite news |date=24 November 2017 |title=Global media, experts praise Dar's work to uplift Pak economy |language=en |work=The News |url=https://www.thenews.com.pk/print/248222 |url-status=live |access-date=24 November 2017 |archive-url=https://web.archive.org/web/20171124023741/https://www.thenews.com.pk/print/248222-global-media-experts-praise-dar-s-work-to-uplift-pak-economy |archive-date=24 November 2017}}</ref> however at the same time were criticised by the opposition political parties during Dar's time in office<ref name="nation/23nov2017">{{cite news |date=23 November 2017 |title=Economy demonstrates vibrant performance: Finance ministry |work=The Nation |url=http://nation.com.pk/23-Nov-2017/economy-demonstrates-vibrant-performance-finance-ministry |url-status=live |access-date=23 November 2017 |archive-url=https://web.archive.org/web/20171123074825/http://nation.com.pk/23-Nov-2017/economy-demonstrates-vibrant-performance-finance-ministry |archive-date=23 November 2017}}</ref> such as for having obtained $35{{nbsp}}billion in foreign loans and for manipulating statistics to show a better economic performance for the country.<ref name="tribune/22nov2017" /> In December 2017, An accountability court declared Dar a proclaimed offender in a corruption case after he repeatedly failed to appear before the court<ref>{{cite news |date=11 December 2017 |title=Ishaq Dar declared proclaimed offender in NAB reference {{!}} The Express Tribune |work=The Express Tribune |url=https://tribune.com.pk/story/1581295/1-medical-reports-submitted-dar-incongruent-nab-prosecutor/ |access-date=10 July 2018}}</ref> and subsequently was called fugitive by the court.<ref>{{Cite web |title=Pakistan Court Declares Finance Minister a Fugitive |url=https://www.occrp.org/en/27-ccwatch/cc-watch-briefs/7388-pakistan-court-declares-finance-minister-a-fugitive}}</ref>
In November 2017 the court issued a non-bailable arrest warrant for him while he was in London<ref>{{cite news |title=Warrant issued for Dar's arrest |language=en |work=The News |url=https://www.thenews.com.pk/print/244411 |url-status=live |access-date=16 November 2017 |archive-url=https://web.archive.org/web/20171116024926/http://thenews.com.pk/print/244411-Warrant-issued-for-Dars-arrest |archive-date=16 November 2017}}</ref> for not appearing in court.<ref name="dawn/19nov2017" /> It was reported that he may lose his ministerial portfolio due to the corruption case against him<ref>{{cite news |title=Ishaq Dar likely to lose ministerial slot |work=The Nation |url=http://nation.com.pk/14-Nov-2017/ishaq-dar-likely-to-lose-ministerial-slot |url-status=live |access-date=14 November 2017 |archive-url=https://web.archive.org/web/20171114054308/http://nation.com.pk/14-Nov-2017/ishaq-dar-likely-to-lose-ministerial-slot |archive-date=14 November 2017}}</ref> on the grounds that he has become ineffective and unable to carry out the responsibilities of a Minister.<ref name="pakistantoday/16nov2017">{{cite news |date=16 November 2017 |title=Ahsan Iqbal likely to take charge of Finance Ministry |work=Pakistan Today |url=https://profit.pakistantoday.com.pk/2017/11/16/ahsan-iqbal-likely-to-replace-ishaq-dar-as-finance-minister/ |url-status=dead |access-date=16 November 2017 |archive-url=https://web.archive.org/web/20171127100223/https://profit.pakistantoday.com.pk/2017/11/16/ahsan-iqbal-likely-to-replace-ishaq-dar-as-finance-minister/ |archive-date=27 November 2017}}</ref><ref>{{cite news |date=15 November 2017 |title=Ahsan Iqbal all set to wear three hats |work=The Express Tribune |url=https://tribune.com.pk/story/1559543/1-ahsan-iqbal-verge-becoming-finance-minister/ |url-status=live |access-date=16 November 2017 |archive-url=https://web.archive.org/web/20171119093740/https://tribune.com.pk/story/1559543/1-ahsan-iqbal-verge-becoming-finance-minister/ |archive-date=19 November 2017}}</ref> On 21{{nbsp}}November a court declared him an absconder.<ref>{{cite news |last1=Imran |first1=Mohammad |date=21 November 2017 |title=Accountability court declares Ishaq Dar an absconder |work=DAWN |url=https://www.dawn.com/news/1371931 |url-status=live |access-date=21 November 2017 |archive-url=https://web.archive.org/web/20171121092015/https://www.dawn.com/news/1371931/accountability-court-declares-ishaq-dar-an-absconder |archive-date=21 November 2017}}</ref> Amid the rumors that he had already resigned from the ministerial office due to pressure and criticism,<ref>{{cite news |date=21 November 2017 |title=The PM must ask Dar to resign |work=Daily Times |url=https://dailytimes.com.pk/143967 |url-status=live |access-date=23 November 2017 |archive-url=https://web.archive.org/web/20171121022549/https://dailytimes.com.pk/143967/pm-must-ask-dar-resign/ |archive-date=21 November 2017}}</ref><ref>{{cite news |title=PM 'running' finance ministry for now |work=The Nation |url=http://nation.com.pk/19-Nov-2017/pm-running-finance-ministry-for-now?show=preview |url-status=live |access-date=19 November 2017 |archive-url=https://web.archive.org/web/20171119093739/http://nation.com.pk/19-Nov-2017/pm-running-finance-ministry-for-now?show=previewutm_medium=PoliticsNewz |archive-date=19 November 2017}}</ref> he on 22{{nbsp}}November vacated the ministerial office of Finance<ref name="dawn/23nov2017">{{cite news |last1=Khan |first1=Mubarak Zeb |date=23 November 2017 |title=Curtains for Dar after finance job taken away |work=DAWN |url=https://www.dawn.com/news/1372330 |url-status=live |access-date=23 November 2017 |archive-url=https://web.archive.org/web/20171123074825/https://www.dawn.com/news/1372330/curtains-for-dar-after-finance-job-taken-away |archive-date=23 November 2017}}</ref> after taking a medical leave<ref name="tribune/22nov2017" /> His cabinet portfolio of Finance Minister was withdrawn<ref name="dawn/27nov2017" /> however, he continued to remain a member of the federal cabinet<ref name="tribune/24nov2017">{{cite news |date=24 November 2017 |title=An exit foretold |work=The Express Tribune |url=https://tribune.com.pk/story/1566635/6 |url-status=live |access-date=24 November 2017 |archive-url=https://web.archive.org/web/20171124053843/https://tribune.com.pk/story/1566635/6-an-exit-foretold/ |archive-date=24 November 2017}}</ref><ref name="dawn/23nov2017" /> as a federal minister without portfolio.<ref name="tribune/22nov2017" /> It was noted that Dar has refused to leave the Finance Ministry and that he took a temporary medical leave for three months after which he may retook the office upon his return to Pakistan.<ref>{{cite news |date=25 November 2017 |title=Dar's dilemma |work=Daily Times |url=https://dailytimes.com.pk/146652 |url-status=live |access-date=25 November 2017 |archive-url=https://web.archive.org/web/20171125071717/https://dailytimes.com.pk/146652/dars-dilemma/ |archive-date=25 November 2017}}</ref> During his third tenure as Finance Minister, he has been credited for stabilizing the economy of Pakistan<ref>{{cite news |date=16 December 2017 |title=Special report: At the crossroads 2013-2017 |work=DAWN |url=https://www.dawn.com/news/1375944/special-report-at-the-crossroads-2013-2017 |url-status=live |access-date=16 December 2017 |archive-url=https://web.archive.org/web/20171216151028/https://www.dawn.com/news/1375944/special-report-at-the-crossroads-2013-2017 |archive-date=16 December 2017}}</ref><ref>{{cite news |last1=Farhan Bokhari |first1=Amy Kazmin |date=28 July 2017 |title=Nawaz Sharif ousted as Pakistan's premier in corruption case |work=Financial Times|location=London |url=https://www.ft.com/content/b5b046de-7368-11e7-aca6-c6bd07df1a3c |url-status=live |access-date=28 November 2017 |archive-url=https://web.archive.org/web/20171011024240/https://www.ft.com/content/b5b046de-7368-11e7-aca6-c6bd07df1a3c |archive-date=11 October 2017}}</ref> for three years after 2013;<ref name="dawn/27nov2017" /><ref name="tribune/22nov2017" /><ref>{{cite news |last1=Haider |first1=Mehtab |title=Missing in action |language=en |work=The News |url=https://www.thenews.com.pk/magazine/money-matters/243749- |url-status=live |access-date=23 November 2017 |archive-url=https://web.archive.org/web/20171119054914/https://www.thenews.com.pk/magazine/money-matters/243749-Missing-in-action |archive-date=19 November 2017}}</ref> in particularly steering country out of balance of payments crisis in 2013.<ref>{{cite news |last1=Syed Raza Hassan |date=26 September 2017 |title=Pakistan searches for new finance minister after Dar relieved of duties |agency=Reuters|url=https://www.reuters.com/article/idUSKBN1DN1I1 |url-status=live |access-date=28 November 2017 |archive-url=https://web.archive.org/web/20171126065503/https://www.reuters.com/article/us-pakistan-finmin/pakistan-searches-for-new-finance-minister-after-dar-relieved-of-duties-idUSKBN1DN1I1 |archive-date=26 November 2017}}</ref><ref>{{cite news |date=28 July 2017 |title=How Pakistan's Prime Minister Nawaz Sharif was brought down by a font |work=The Independent |url=http://dev.independent.co.uk/news/world/asia/pakistan-prime-minister-nawaz-sharif-corruption-supreme-court-disqualified-oust-kicked-out-charges-a7864116.html |url-status=live |access-date=28 November 2017 |archive-url=https://web.archive.org/web/20171128090330/http://dev.independent.co.uk/news/world/asia/pakistan-prime-minister-nawaz-sharif-corruption-supreme-court-disqualified-oust-kicked-out-charges-a7864116.html |archive-date=28 November 2017}}</ref><ref>{{cite news |title=Pakistan's Supreme Court disqualifies Finance Minister Ishaq Dar: media |agency=Reuters|url=https://www.reuters.com/article/idUSKBN1AD0V6 |url-status=live |access-date=24 November 2017 |archive-url=https://web.archive.org/web/20171002120022/https://www.reuters.com/article/us-pakistan-politics-finmin/pakistans-supreme-court-disqualifies-finance-minister-ishaq-dar-media-idUSKBN1AD0V6 |archive-date=2 October 2017}}</ref> The economic policies of Dar, referred to by some as Darnomics,<ref>{{cite news |last1=Bokhari |first1=Farhan |date=27 November 2017 |title='Darnomics' legacy |work=DAWN |url=https://www.dawn.com/news/1373028 |url-status=live |access-date=5 December 2017 |archive-url=https://web.archive.org/web/20171206005850/https://www.dawn.com/news/1373028 |archive-date=6 December 2017}}</ref><ref>{{cite news |title=Darnomics all the way |work=Pakistan Today |url=https://www.pakistantoday.com.pk/2017/08/06/darnomics-all-the-way/ |url-status=live |access-date=5 December 2017 |archive-url=https://web.archive.org/web/20171205150518/https://www.pakistantoday.com.pk/2017/08/06/darnomics-all-the-way/ |archive-date=5 December 2017}}</ref> were commended by international media and economic experts for reviving economy of Pakistan<ref name="thenews/24nov2017">{{cite news |date=24 November 2017 |title=Global media, experts praise Dar's work to uplift Pak economy |language=en |work=The News |url=https://www.thenews.com.pk/print/248222 |url-status=live |access-date=24 November 2017 |archive-url=https://web.archive.org/web/20171124023741/https://www.thenews.com.pk/print/248222-global-media-experts-praise-dar-s-work-to-uplift-pak-economy |archive-date=24 November 2017}}</ref> however at the same time were criticised by the opposition political parties during Dar's time in office<ref name="nation/23nov2017">{{cite news |date=23 November 2017 |title=Economy demonstrates vibrant performance: Finance ministry |work=The Nation |url=http://nation.com.pk/23-Nov-2017/economy-demonstrates-vibrant-performance-finance-ministry |url-status=live |access-date=23 November 2017 |archive-url=https://web.archive.org/web/20171123074825/http://nation.com.pk/23-Nov-2017/economy-demonstrates-vibrant-performance-finance-ministry |archive-date=23 November 2017}}</ref> such as for having obtained $35{{nbsp}}billion in foreign loans and for manipulating statistics to show a better economic performance for the country.<ref name="tribune/22nov2017" /> In December 2017, An accountability court declared Dar a proclaimed offender in a corruption case after he repeatedly failed to appear before the court<ref>{{cite news |date=11 December 2017 |title=Ishaq Dar declared proclaimed offender in NAB reference {{!}} The Express Tribune |work=The Express Tribune |url=https://tribune.com.pk/story/1581295/1-medical-reports-submitted-dar-incongruent-nab-prosecutor/ |access-date=10 July 2018}}</ref> and subsequently was called fugitive by the court.<ref>{{Cite web |title=Pakistan Court Declares Finance Minister a Fugitive |url=https://www.occrp.org/en/27-ccwatch/cc-watch-briefs/7388-pakistan-court-declares-finance-minister-a-fugitive}}</ref>


On 26 December, Prime Minister Abbasi elevated his special assistant on Economic Affairs [[Miftah Ismail]] as his Adviser on Finance, Revenue and Economic Affairs with the status of a federal minister<ref>{{cite news |last1=Khan |first1=Mubarak Zeb |date=27 December 2017 |title=New finance team enters with heavy agenda |work=DAWN |url=https://www.dawn.com/news/1379078 |url-status=live |access-date=27 December 2017 |archive-url=https://web.archive.org/web/20171227062822/https://www.dawn.com/news/1379078 |archive-date=27 December 2017}}</ref><ref name="nation/27dec2017">{{cite news |last1=Imran Ali |first1=Kundi |date=27 December 2017 |title=Rana Afzal takes oath as state minister for finance |work=The Nation |url=http://nation.com.pk/27-Dec-2017/rana-afzal-takes-oath-as-state-minister-for-finance |url-status=live |access-date=27 December 2017 |archive-url=https://web.archive.org/web/20171227115330/http://nation.com.pk/27-Dec-2017/rana-afzal-takes-oath-as-state-minister-for-finance |archive-date=27 December 2017}}</ref> as successor of Dar.<ref>{{cite news |date=27 December 2017 |title=Pakistan appoints economist to head finance ministry in run-up to election |work=[[Gulf News]] |url=http://gulfnews.com/1.2147931 |access-date=28 December 2017}}</ref><ref>{{cite news |date=28 December 2017 |title=New stewardship of finance ministry |work=The Express Tribune |url=https://tribune.com.pk/story/1594405/1 |url-status=live |access-date=28 December 2017 |archive-url=https://web.archive.org/web/20180220045838/https://tribune.com.pk/story/1594405/1/ |archive-date=20 February 2018}}</ref> Abbasi continued to hold the ministerial office of Finance.<ref>{{cite news |date=5 January 2018 |title=A rapid fire round with MNA Rana Afzal – Minister of State for Finance |work=[[Business Recorder]] |url=https://www.brecorder.com/2018/01/05/390874/ |url-status=live |access-date=6 January 2018 |archive-url=https://web.archive.org/web/20180220045836/https://www.brecorder.com/2018/01/05/390874/ |archive-date=20 February 2018}}</ref>
On 26 December, Prime Minister Abbasi elevated his special assistant on Economic Affairs [[Miftah Ismail]] as his Adviser on Finance, Revenue and Economic Affairs with the status of a federal minister<ref>{{cite news |last1=Khan |first1=Mubarak Zeb |date=27 December 2017 |title=New finance team enters with heavy agenda |work=DAWN |url=https://www.dawn.com/news/1379078 |url-status=live |access-date=27 December 2017 |archive-url=https://web.archive.org/web/20171227062822/https://www.dawn.com/news/1379078 |archive-date=27 December 2017}}</ref><ref name="nation/27dec2017">{{cite news |last1=Imran Ali |first1=Kundi |date=27 December 2017 |title=Rana Afzal takes oath as state minister for finance |work=The Nation |url=http://nation.com.pk/27-Dec-2017/rana-afzal-takes-oath-as-state-minister-for-finance |url-status=live |access-date=27 December 2017 |archive-url=https://web.archive.org/web/20171227115330/http://nation.com.pk/27-Dec-2017/rana-afzal-takes-oath-as-state-minister-for-finance |archive-date=27 December 2017}}</ref> as successor of Dar.<ref>{{cite news |date=27 December 2017 |title=Pakistan appoints economist to head finance ministry in run-up to election |work=[[Gulf News]] |url=http://gulfnews.com/1.2147931 |access-date=28 December 2017}}</ref><ref>{{cite news |date=28 December 2017 |title=New stewardship of finance ministry |work=The Express Tribune |url=https://tribune.com.pk/story/1594405/1 |url-status=live |access-date=28 December 2017 |archive-url=https://web.archive.org/web/20180220045838/https://tribune.com.pk/story/1594405/1/ |archive-date=20 February 2018}}</ref> Abbasi continued to hold the ministerial office of Finance.<ref>{{cite news |date=5 January 2018 |title=A rapid fire round with MNA Rana Afzal – Minister of State for Finance |work=[[Business Recorder]] |url=https://www.brecorder.com/2018/01/05/390874/ |url-status=live |access-date=6 January 2018 |archive-url=https://web.archive.org/web/20180220045836/https://www.brecorder.com/2018/01/05/390874/ |archive-date=20 February 2018}}</ref>

Revision as of 08:41, 6 July 2023

Ishaq Dar
محمد اسحاق ڈار
Minister of Finance
Assumed office
28 September 2022
PresidentArif Alvi
Prime MinisterShahbaz Sharif
Preceded byMiftah Ismail
In office
7 June 2013 – 22 November 2017
PresidentMamnoon Hussain
Prime MinisterNawaz Sharif
Shahid Khaqan Abbasi
Preceded byMir Hazar Khan Khoso (Acting)
Succeeded byRana Afzal Khan
In office
31 March 2008 – 13 May 2008
PresidentPervez Musharraf
Prime MinisterYousaf Raza Gillani
Preceded bySalman Shah
Succeeded byNaveed Qamar
In office
7 November 1998 – 12 October 1999
PresidentWasim Sajjad (Acting)
Muhammad Rafiq Tarar
Prime MinisterNawaz Sharif
Preceded bySartaj Aziz
Succeeded byShaukat Aziz
Leader of the House for the Senate
Assumed office
30 September 2022
PresidentDr. Arif Alvi
Prime MinisterShehbaz Sharif
Preceded byAzam Nazeer Tarar
Member of the Senate
Assumed office
28 September 2022
Prime MinisterShahid Khaqan Abbasi
Nasirul Mulk (Acting)
Imran Khan
Shehbaz Sharif
ConstituencyPunjab
In office
March 2012 – March 2018
PresidentAsif Ali Zardari
Mamnoon Hussain
Prime MinisterYousaf Raza Gillani
Raja Pervez Ashraf
Mir Hazar Khan Khoso (Acting)
Nawaz Sharif
Shahid Khaqan Abbasi
ConstituencyPunjab
In office
March 2006 – March 2012
PresidentPervez Musharraf
Asif Ali Zardari
Prime MinisterShaukat Aziz
Muhammad Mian Soomro (Acting)
Yousaf Raza Gillani
ConstituencyPunjab
In office
March 2003 – March 2006
PresidentPervez Musharraf
Prime MinisterZafarullah Khan Jamali
Chaudhary Shujaat Hussain
Shaukat Aziz
ConstituencyPunjab
Leader of the Opposition in the Senate
In office
14 March 2012 – 4 June 2013
PresidentAsif Ali Zardari
Prime MinisterYousaf Raza Gillani
Raja Pervaiz Ashraf
Mir Hazar Khan Khoso (Acting)
Preceded byAbdul Ghafoor Haideri
Succeeded byAitzaz Ahsan
Federal Minister for Commerce
In office
25 December 1997 – 12 October 1999
PresidentFarooq Leghari
Wasim Sajjad (Acting)
Muhammad Rafiq Tarar
Prime MinisterNawaz Sharif
Preceded byAhmad Mukhtar
Succeeded byAbdul Razak Dawood
Federal Minister for Industries and Investment
In office
25 February 1997 – 11 July 1997
PresidentFarooq Leghari
Prime MinisterNawaz Sharif
Preceded bySadiq N. K. Awan
Succeeded byKhalid Maqbool Siddiqui
Personal details
Born (1950-05-23) 23 May 1950 (age 74)
Lahore, Punjab, Pakistan
Political partyPakistan Muslim League (N)
SpouseTabassum Ishaq
RelationsSpouse
EducationHailey College of Commerce (B.Com.); ICAEW (Fellow Chartered Accountant)
AwardsNishan-e-Imtiaz
Signature

Muhammad Ishaq Dar (Urdu: محمد اسحاق ڈار; born 23 May 1950) is a senior Pakistani politician[1] and chartered accountant.[2] He is a member of the Senate of Pakistan[3] and was appointed Finance Minister of Pakistan on 28 September 2022.[1]

Dar was born in 1950 in Lahore. He attended the Hailey College of Commerce, Government College University, and Institute of Chartered Accountants in England and Wales. He began his career as a chartered accountant in the public and private sector.[4]

Dar entered politics in the 1980s. He was Chairman of Pakistan Board of Investment for a year during the first Sharif ministry. He has served as federal minister for commerce; industries and investment; and finance and revenue.

Dar was elected to the senate in 2003, and was Leader of the Opposition from 2012 to 2013.[5] After the formation of a coalition government following the 2008 general election, he was briefly re-appointed as the Finance Minister for the second time under Prime Minister Yousaf Raza Gillani. During the third Sharif ministry, Dar was re-appointed as finance minister; following Sharif's removal from office in July 2017, Sharif's successor Shahid Khaqan Abbasi appointed him finance minister again.

Early life and education

Dar was born in 1950.[6] He has a bachelor's degree in commerce from the Hailey College of Commerce of the University of the Punjab in Lahore,[7] which he attended from 1966 to 1969. He then attended Government College University in Lahore.[8] Dar was awarded two merit gold medals and a roll of honor for first position in B. Com. (Hons) at the University of Punjab.[8]

Dar became an Associate Member of the Institute of Chartered Accountants in England and Wales in 1974,[9] when he qualified as a chartered accountant. In 1975, he became associate member of the Institute of Chartered Accountants of Pakistan as well.[10] He became a fellow of the Institute of Chartered Accountants in England and Wales in 1980 and of Institute of Chartered Accountants of Pakistan in 1984. Currently, he is a fellow member of the Pakistan Institute of Public Finance Accountants and Institute of Chartered Accountants in England and Wales as well.[8]

Early career

Professionally, Dar is a chartered and management accountant and economist[11][12][13] Dar was director of finance in a London-based textile corporation from 1974 to 1976. He moved to Libya in 1976 and worked for the Government of Libya as senior auditor in the Office of the Auditor General's Department in Tripoli.[8][14] [15][7] On returning to Pakistan in 1977, he became partner in a chartered accountancy firm and in 1980 he became financial adviser to Nazir & Company – a multinational construction company.[16]

Political career

Initial political career

Dar began his political career in the late 1980s with the Pakistan Muslim League (N) as a member of its central executive committee (CEC).[6] In a confession to the National Accountability Bureau, Dar said that he became closely associated with the Sharif family in 1990, and admitted to "money laundering of $14.68 million and opening two bank accounts under the names of Sikandar Masood Qazi and Talat Masood Qazi for Nawaz Sharif's brother".[17]

In 1992, the Prime Minister, Nawaz Sharif, appointed him Chairman of Pakistan Board of Investment (BOI) with a status of Minister of State till 1993.[18][19][6] He served in a pro bono role. He immediately resigned after the government was dismissed by the then President of Pakistan, Ghulam Ishaq Khan[20] under the notorious clause 58 2(b).[21] It is pertinent to note that the clause 58-B has been removed for being undemocratic under Eighteenth Amendment to the Constitution of Pakistan. After leaving BOI 1993,[22] he won the elections for the President of Lahore Chamber of Commerce and Industry that same year.[23][19]

Dar made his Parliament debut after running for a seat in the National Assembly of Pakistan in a by-election held after 1993 general election as a candidate of the PML-N for the Lahore NA-95 constituency after the seat was vacated by Nawaz Sharif who had won the seat in two different constituencies in 1993 general election.[24][25] After receiving 39,483 votes (62%), he was elected to the National Assembly.[19][26][6] His tenure as Member of the National Assembly was terminated upon the dissolution of the National Assembly in 1996[27][28] following the dismissal of the Benazir Bhutto government by the then-President, Farooq Leghari.[19][29]

Pakistan's Federal Minister for Finance, Revenue, Economic Affairs & Statistics and Commerce (1997–1999)

After new snap elections were called in 1997,[30] Ishaq Dar ran for a National Assembly seat as a candidate of the PML-N; and, was successfully re-elected to represent Lahore's NA-97 constituency[19] by securing 61,556 votes.[26][6] After the PML-N had won a clear majority in the National Assembly for the second time,[31] Ishaq Dar was inducted into the cabinet of Prime Minister Nawaz Sharif as a federal minister; and, was appointed the Federal Minister for Industries and Investment in February 1997 – where he served until July 1997.[32]

In December 1997, he was made the Federal Minister for Commerce.[32][19][33][6] During that time, in response to India's provocative & threatening 5 consecutive nuclear bomb tests on 11 May 1998, in a much-hyped development globally, Pakistan tested its nuclear weapons in May 1998. Major economic powers at that time,[34] responded with harsh and heavy economic sanctions against Pakistan.[35][36]

As the result of economic sanctions[37] having a multitude of global geostrategic, military, trade, investment, industrial collaboration, financial and IFIs lending repercussions, Pakistan's economy plummeted.[38][39][40] At that juncture, Ishaq Dar was given the additional federal cabinet portfolio of Minister for Finance; with the additional charge of Revenue, Economic Affairs & Statistics.[12][6][41]

Ishaq Dar attracted limelight, scrutiny and criticism[42] in the aftermath of Nuclear-related sanctions; but, somehow, he was able to conclude negotiations for an International Monetary Fund (IMF) bailout package to deal with an economic crisis.[19][13] Ishaq Dar continued to serve in both cabinet positions until the 1999 Pakistani coup d'état; during which the then-Chief of Army Staff, General Pervez Musharraf, overthrew Nawaz Sharif and his existing elected government.[43][44]

Dar spent nearly two years[19][13] in jail under Musharraf over corruption charges that never went to trial.[7] His tenure as Member of the National Assembly was also terminated after the assembly's dissolution in 1999 as a result of the coup.[27][45] Dar remained loyal to the PML-N during Musharraf's rule[46] despite pressure by the Pakistan Army to switch allegiance from Nawaz Sharif.[11] However, during his detention in 2000, Dar accused Nawaz Sharif of having engaged in money laundering in the late 1990s[47] and, in connection with the infamous Hudabya Papers Mills case, Dar confessed to laundering US$14.86 million on behalf of the Nawaz Sharif.[48][17] Later, he retreated from his statement, saying it had been extracted under duress.[49] After having been released from jail[11] during the Pervez Musharraf rule in Pakistan, Dar moved to the United Arab Emirates, where he worked as a financial adviser[50] to a member of the ruling family, a position he held until 2008.[6][51] In 2002, he was made President of PML-N's International Affairs wing.[6]

Third tenure as Pakistan's Federal Minister for Finance & Revenue

Dar while speaking at event, held at U.S. Institute of Peace in 2014

For the 2013 general election, Dar was made part of the PML-N's central parliamentary board tasked with selecting candidates for the election.[19][46] Upon the victory of the PML-N in the 2013 general election, Dar resigned from his position as Opposition Leader in the Senate[52][53] and was invited to join the federal cabinet after the government was formed by Prime Minister Nawaz Sharif in June 2013. He was for the third time made the Federal Minister for Finance[54][55][56] and was given the additional cabinet portfolios of Revenue, Economic Affairs, Statistics and Privatisation.[57] In 2014 Dar was given the chairmanship of the Special Parliamentary Committee on Election Reforms[58] and of Economic Coordination Committee by Nawaz Sharif.[59] During the third premiership of Nawaz Sharif, Dar was considered so powerful[60] that he was dubbed the de facto Deputy Prime Minister of Pakistan,[61][19][62][63] mainly because of his family relationship with Nawaz Sharif.[54] At one point he was serving as the chairman of over 45 committees.[61][60] Dar was considered the most powerful member of Nawaz Sharif cabinet[48] who in 2016, looked after important government matters when Nawaz Sharif underwent heart surgery in the United Kingdom.[64]

In July 2016 the National Accountability Bureau (NAB) cleared Dar in an over Rs 130 billion corruption case. Dar had previously stated several times that he was facing no corruption case; however, the closing of an investigation against him negated his earlier claims. The NAB had included Dar's case in the list of 179 mega-corruption cases since 2001.[65] It was reported that the case was closed due to "immense pressure" from within the NAB or from the federal government despite the fact that enough evidence was available against Dar for a conviction.[66]

Dar was disqualified to hold the office of Minister of Finance on 28 July 2017 by the Supreme Court of Pakistan after then-Prime Minister Nawaz Sharif was also disqualified by the same court following a decision in the Panama Papers case.[67] On the same day Dar ceased to hold ministerial office when the federal cabinet was disbanded after Nawaz Sharif resigned as Prime Minister.[68] Following the election of Shahid Khaqan Abbasi as the new prime minister in early August 2017, Dar was invited to join the federal cabinet of Abbasi despite his disqualification and an investigation having been ordered against him by the Supreme Court.[69] He was inducted into the cabinet and was re-appointed to the same portfolio in the Government – as the Federal Minister for Finance[70][71][72] however with lesser powers as Shahid Khaqan Abbasi in order to minimize the role of Dar in government affairs had bifurcated the Ministry of Finance, Revenue, Economic Affairs, Statistics and Privatisation into three separate ministires by separating Statistics and Privatisation, with Dar heading ministry comprising three divisions – Finance, Revenue, Economic Affairs.[73][74][62][63] He was removed from the chairmanship of major policymaking bodies such as the Economic Coordination Committee[75][76] and the Council of Common Interests.[77] On 20 August 2017 he was removed from the chairmanship of some 35 National Assembly committees by Shahid Khaqan Abbasi[78] thus further reducing Dar's influence.[79] It was noted that the move to limit Dar to the Ministry of Finance only was made at the direction of the Sharif family.[80] In September 2017 a NAB court in Pakistan indicted Dar in the Panama Papers corruption case for having wealth beyond his known sources of income,[81][82] but, despite criticism from the opposition parties, he continued to serve as finance minister.[83] In October 2017 he fell ill while in Saudi Arabia and left for the United Kingdom for medical treatment.[84][85]

In November 2017 the court issued a non-bailable arrest warrant for him while he was in London[86] for not appearing in court.[83] It was reported that he may lose his ministerial portfolio due to the corruption case against him[87] on the grounds that he has become ineffective and unable to carry out the responsibilities of a Minister.[88][89] On 21 November a court declared him an absconder.[90] Amid the rumors that he had already resigned from the ministerial office due to pressure and criticism,[91][92] he on 22 November vacated the ministerial office of Finance[93] after taking a medical leave[54] His cabinet portfolio of Finance Minister was withdrawn[61] however, he continued to remain a member of the federal cabinet[94][93] as a federal minister without portfolio.[54] It was noted that Dar has refused to leave the Finance Ministry and that he took a temporary medical leave for three months after which he may retook the office upon his return to Pakistan.[95] During his third tenure as Finance Minister, he has been credited for stabilizing the economy of Pakistan[96][97] for three years after 2013;[61][54][98] in particularly steering country out of balance of payments crisis in 2013.[99][100][101] The economic policies of Dar, referred to by some as Darnomics,[102][103] were commended by international media and economic experts for reviving economy of Pakistan[104] however at the same time were criticised by the opposition political parties during Dar's time in office[105] such as for having obtained $35 billion in foreign loans and for manipulating statistics to show a better economic performance for the country.[54] In December 2017, An accountability court declared Dar a proclaimed offender in a corruption case after he repeatedly failed to appear before the court[106] and subsequently was called fugitive by the court.[107]

On 26 December, Prime Minister Abbasi elevated his special assistant on Economic Affairs Miftah Ismail as his Adviser on Finance, Revenue and Economic Affairs with the status of a federal minister[108][109] as successor of Dar.[110][111] Abbasi continued to hold the ministerial office of Finance.[112]

In January 2023, Ministry of Wealth in Pakistan requested US support in reviving IMF program to improve economy hit by floods and global economic challenges.[113]

In Opposition & Post-Ministerial Parliamentary Politics

In October 2016, the Finance Ministry announced that the IMF conferred the "Finance Minister of the Year for South Asia" award to Dar.[114] After which the IMF had to issue a statement saying the newspaper did not belong to it and that it was an independent publication. It was noted that five Pakistani state-owned firms funded the Emerging Markets edition, which carried a supplement on Pakistan.[115]

In Opposition

After a stay of several months outside Pakistan,[19][116] Dar returned to Pakistan in 2003 to run for a seat in the Senate as a candidate of PML-N and was elected for the first time, for a term of three years. During his tenure as Member of the Senate, he served as Parliamentary Leader of the PML-N in the Senate.[19] He was re-elected to the Senate in the 2006 senate election as a candidate of PML-N, this time for a term of six years.[6][19] During his tenure as Member of the Senate between 2003 and 2012, he remained the Parliamentary Leader of the PML-N in the Senate.[6][117]

After the formation of a coalition government between the PPP and PML-N with Yousaf Raza Gillani as Prime Minister,[118] following the 2008 general election, which had resulted in a hung parliament where the PPP had secured the largest number of seats in the National Assembly and the PML-N the second largest,[119][120] Dar due to his expertise in finance and economics,[13][6] was invited to join the cabinet of Yousaf Raza Gillani with the status of a federal minister in March 2008 and was re-appointed as the Minister for Finance[19][121][12][6][7] with the additional cabinet portfolio of revenue, economic affairs and statistics.[122] However, his tenure as Minister for Finance was short-lived after the PML-N left the PPP-led coalition government in May 2008[122][123] to lead the movement to impeach Pervez Musharraf and to restore the judiciary[124] after the coalition failed to restore the judiciary, as agreed between PML-N and PPP in the Bhurban Accord.[125] During his brief tenure as finance minister, he was criticized for causing the rupee fall, bank run and panic in the market.[126] Meanwhile, he has been credited for proposing the idea of the Benazir Income Support Programme,[127][128][129][130] a Pakistani government aid program to provide financial assistance to low-income families[131][132] which is said to be one of the largest in South Asia.[133] Dar claimed that the original name of the organisation proposed was Pakistan Income Support Programme but that it was renamed by PPP for political gains after he stepped down form the ministerial office.[134]

In 2011 Dar was decorated with Nishan-e-Imtiaz, the highest civil award given to Pakistani nationals, for his parliamentary service in Pakistan. However, he refused to receive it from the then-President, Asif Ali Zardari.[19][6] Dar was re-elected to the Senate for the third time in the 2012 senate election, for six years as a candidate of PML-N on technocrat seat from Punjab[19][6] after which he was appointed by Nawaz Sharif as the Parliamentary Leader of the PML-N in the Senate.[117] A few days later he was elected as the Leader of the Opposition in the Senate, replacing Abdul Ghafoor Haideri[135][136] for his negotiation skills with PPP government on major issues.[11] During his tenure as Member of the Senate, he remained member of the various Standing Committees of Senate such as defence and defence production, foreign affairs, Kashmir affairs and Gilgit-Baltistan, commerce and finance, revenue, economic affairs, statistics, planning and development and privatisation.[6] He also served as a member of the Special Committee on Constitutional Reforms, and co-prepared and passed the 18th, the 19th, and the 20th amendments to the Constitution of Pakistan.[6][19]

Post-ministerial parliamentary politics

In February 2018, the name of Dar was shortlisted by PML-N amongst the candidate for March 2018 Senate election[137] after which Dar filed his nomination papers for a general seat and a technocrat seat in the Senate.[138] However the Election Commission of Pakistan rejected his nomination papers.[139][140] On 17 February, Lahore High Court granted permission to Dar to participate in the Senate elections.[138] On 22 February, the Election Commission of Pakistan declared all PML-N candidates for the Senate election as independent after a ruling of the Supreme Court.[141] On 3 March 2018, he was re-elected to the Senate as an independent candidate on technocrat seat from Punjab[142][143] with the backing by PML-N.[144] On 12 March 2018, he ceased to hold the position of a federal minister due to expiration of his Senate term.[145]

In May 2018, the Supreme Court ordered the ECP to suspend the notification of Senator-elect Dar as member of the Senate for his failure to appear before the court.[146] As of June 2018, he did not take oath of Senator. In June 2018, the ECP suspended the Senate membership of Dar.[147] On 10 July, the Supreme Court ordered Dar to appear before court within three days.[148] Interpol Red Notice for Dar was issued by the government of Pakistan on 14 July to bring him back to Pakistan.[149]

In August 2018, the NAB approved an inquiry into a graft case against Dar for illegally awarding a Next Generation Mobile Services contract and for committing alleged financial irregularities.[150][151] In September, his passport was cancelled by the government of Pakistan making him a stateless person.[152][153] The same month, a British parliamentary team rejected an online petition seeking the deportation of Dar on the ground that there is no extradition treaty between the two countries.[154][155]

Personal life

Dar belongs to a family of businessmen and traders of Kashmiri origin.[156] He is regarded as the most trusted aide of the Sharif family.[157][158] In 2004, Dar's eldest son married Nawaz Sharif's daughter Asma Nawaz in Jeddah, Saudi Arabia.[159][160]

Dar runs two charitable organisations as well.[161] These trusts are aimed to provide shelter to the homeless children or orphans, provide student scholarships and organize mass wedding ceremonies for the less privileged.[6]

Dar is also an accomplished entrepreneur, businessman and investor; and, his declared assets stand at PKR. 583 million[162] and investments at PKR. 325 million in Pakistan Investment Bonds.[163] As of February 2022, all his personal assets,[164] assets belonging to his family[165] and those owned by his charitable organizations have been unfrozed under court orders.[166]

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