Pakistan's Finance Minister Shaukat Tarin resigned on Tuesday following months of strained relations with other members of the federal Cabinet, saying he was stepping down to focus on his private business interests.
Premier Yousuf Raza Gilani accepted the resignation when Tarin called on him at the prime minister's House this afternoon, an official statement said. Tarin, who also held the planning, revenue and economic affairs portfolios, said in his resignation that he was quitting to focus on his family business and that he could not do so if he remained a minister as it would result in a conflict of interest. He said he would extend his services and advice to
the government whenever it was needed.
Tarin also expressed his willingness to continue fulfilling his responsibilities as a member of the National Economic Advisory Council, besides giving suggestions on economic matters. Tarin, a former banker, was appointed advisor to the Prime Minister on economic affairs in October 2008 and later sworn in as finance minister. He oversaw negotiations with the International Monetary Fund in 2008 that led to a 11.5 billion-dollar agreement that helped Pakistan stave off a balance of payment crisis.
During his meeting with Tarin, Gilani appreciated his contributions in "turning around the sliding national economy."