Hammad Azhar to replace Hafeez Shaikh as finance minister, confirms Shibli Faraz

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Islamabad (Web Desk): Senator Shibli Faraz has confirmed that Minister for Industries and Production Hammad Azhar will replace Dr Hafeez Shaikh as Finance Minister.

According to sources, Shibli Faraz is likely to be given the portfolio of Petroleum Minister. There were also consultations on dividing the Ministry of Information and Broadcasting into two, with separate Ministers of State for both Information and Broadcasting.

The development comes after PPP candidate Yusuf Raza Gilani defeated Hafeez Shaikh for the Islamabad general seat in Senate elections. Following the defeat, Prime Minister Imran Khan on March 6, had directed Shaikh to carry on his duties as Minister for Finance.