{{Short description|Deputy Prime Minister of Pakistan since 2024}} {{good article}} {{Use dmy dates|date=May 2023}} {{Infobox officeholder | honorific_prefix = | image = Ishaq Dar in 2025 (PID-0000182) (cropped).jpg | caption = Dar in 2025 | office = 6th Deputy Prime Minister of Pakistan | term_start = 28 April 2024 | term_end = | president = Asif Ali Zardari | prime_minister = Shehbaz Sharif | predecessor = Parvez Elahi | successor = | office1 = 38th Minister for Foreign Affairs | prime_minister1 = Shehbaz Sharif | president1 = Asif Ali Zardari | term_start1 = 11 March 2024 | predecessor1 = Jalil Abbas Jilani | successor1 = | office2 = Minister of Finance | prime_minister2 = Shehbaz Sharif | president2 = Arif Alvi | term_start2 = 28 September 2022 | term_end2 = 10 August 2023 | predecessor2 = Miftah Ismail | successor2 = Shamshad Akhtar | prime_minister3 = Nawaz Sharif<br />Shahid Khaqan Abbasi | president3 = Mamnoon Hussain | term_start3 = 7 June 2013 | term_end3 = 22 November 2017 | predecessor3 = Mir Hazar Khan Khoso {{small|''(Acting)''}} | successor3 = Miftah Ismail | prime_minister4 = Yusuf Raza Gillani | president4 = Pervez Musharraf | term_start4 = 31 March 2008 | term_end4 = 13 May 2008 | predecessor4 = Salman Shah | successor4 = Naveed Qamar | prime_minister5 = Nawaz Sharif | president5 = Wasim Sajjad<br>Muhammad Rafiq Tarar | term_start5 = 7 November 1998 | term_end5 = 12 October 1999 | predecessor5 = Sartaj Aziz | successor5 = Shaukat Aziz | office6 = Leader of the House for the Senate of Pakistan | term_start6 = 30 September 2022 | term_end6 = | predecessor6 = Azam Nazeer Tarar | successor6 = | president6 = Arif Alvi<br />Asif Ali Zardari | prime_minister6 = Shehbaz Sharif<br/>Anwaar ul Haq Kakar<br />Shehbaz Sharif | office7 = Member of the Senate of Pakistan | term_start7 = 28 September 2022 | term_end7 = | constituency7 = {{ubl|Punjab (until 2 April 2024)|Islamabad Capital Territory (from 2 April 2024)}} | term_start8 = March 2003 | term_end8 = March 2018 | constituency8 = Punjab | office9 = Leader of the Opposition (Pakistan) | term_start9 = 14 March 2012 | term_end9 = 4 June 2013 | predecessor9 = Abdul Ghafoor Haideri | successor9 = Aitzaz Ahsan | office10 = Minister of Commerce and Textile Industry | prime_minister10 = Nawaz Sharif | president10 = Farooq Leghari <br />Wasim Sajjad<br>Muhammad Rafiq Tarar | term_start10 = 25 December 1997 | term_end10 = 12 October 1999 | predecessor10 = Ahmad Mukhtar | successor10 = Abdul Razak Dawood | office11 = 15th Minister of Industries | prime_minister11 = Nawaz Sharif | president11 = Farooq Leghari | term_start11 = 25 February 1997 | term_end11 = 11 July 1997 | predecessor11 = Sadiq N. K. Awan | successor11 = Khalid Maqbool Siddiqui | birth_date = {{birth date and age|df=y|1950|5|13}} | birth_place = Lahore, Punjab, Pakistan | party = PML(N) (1997–present) | education = Hailey College of Commerce (B.Com) | spouse = Tabassum Ishaq | module = | signature = Ishaq Dar signature.png | native_name = {{No bold|{{Script/Nastaliq|اسحاق ڈار}}}} | native_name_lang = ur | relations = }}
'''Muhammad Ishaq Dar'''{{efn|Punjabi, {{langx|ur|محمد اسحاق ڈار}} ISO: ''Muḥammad Isḥāq Ḍār''}} (born 13 May 1950) is a Pakistani accountant and politician who has served as the 6th deputy prime minister and 38th foreign minister of Pakistan since 2024.
A close aide of the Sharif family, Dar is affiliated with the PML-N and previously served as the finance minister from 2022 to 2023, leader of the House for the Senate in 2022, and Leader of the Opposition for the Senate of Pakistan from 2012 to 2013. He was re-elected as a senator on a technocrat seat from Islamabad in the 2024 Pakistani Senate elections. He is a proponent of a set of economic policies now known as Daronomics.
Ishaq Dar was born in 1950 in Lahore. He attended the Hailey College of Commerce and graduated with a B.Com. 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. He has served as federal minister for commerce; industries and investment; and finance and revenue.
==Early life and education== Dar was born in Lahore, Punjab<ref>{{Cite book |last=Burki |first=Shahid Javed |author-link=Shahid Javed Burki |title=Historical Dictionary of Pakistan |publisher=Rowman & Littlefield |year=2015 |pages=157 |quote=Born in Lahore, Ishaq Dar was educated at Government College and Hailey College of Commerce, both located in his hometown.}}</ref> on 13 May 1950 into a Punjabi family with Kashmiri ancestry.<ref>{{Cite book |last=Ameen |first=Irshad |title=پارليمنٹ بك 97ء: National Assembly of Pakistan |publisher=Promedia |year=1999 |pages=117 |quote=Ishaq Dar was born on 13th May 1950.}}</ref><ref>{{cite news|url=http://archive.indianexpress.com/news/as-nawaz-sharif-becomes-pm-kashmir-gets-voice-in-pakistan-power-circuit/1125778/|title=As Nawaz Sharif becomes PM, Kashmir gets voice in Pakistan power circuit|work=The Indian Express|date=6 June 2013|access-date=30 August 2017|first=Muzamil|last=Jaleel|url-status=live|archive-url=https://web.archive.org/web/20160304231702/http://archive.indianexpress.com/news/as-nawaz-sharif-becomes-pm-kashmir-gets-voice-in-pakistan-power-circuit/1125778/|archive-date=4 March 2016}}</ref>
He has a bachelor's degree in Commerce from the Hailey College of Commerce of the University of the Punjab in Lahore,<ref name="bloomberg1" /> which he attended from 1966 to 1969. He then attended Government College University in Lahore.<ref name="ary/8oct2016">{{cite news|title=Ishaq Dar declared 'Finance Minister of the year 2016 for South Asia'|url=http://www.arynews.tv/en/imf-ishaq-dar-declared-finance-minister-year-2016-south-asia/ |access-date=20 October 2016 |publisher=ARY News |date=8 October 2016 |language=en-GB |url-status=live |archive-url=https://web.archive.org/web/20161029085449/http://www.arynews.tv/en/imf-ishaq-dar-declared-finance-minister-year-2016-south-asia/ |archive-date=29 October 2016}}</ref> Dar was awarded two merit gold medals and was placed on the roll of honour for coming in first position in B.{{nbsp}}Com. (Hons) at the University of the Punjab.<ref name="ary/8oct2016" />
== Accounting career == Dar became an Associate Member of the Institute of Chartered Accountants in England and Wales in 1974,<ref>{{Cite web |title=Islamic Finance: Meeting Global Aspirations -- Conference -- November 11, 2015, Kuwait City |url=https://www.imf.org/external/np/seminars/eng/2015/islamicfinance/index.htm |access-date=2023-02-11 |website=imf.org}}</ref> when he qualified as a chartered accountant. In 1975, he became associate member of the Institute of Chartered Accountants of Pakistan.<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=2023-02-11 |website=icap.org.pk}}</ref> 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.<ref name="ary/8oct2016" />
Professionally, Dar is a chartered and management accountant and economist.<ref name="nation/30may2013" /><ref name="Tribune/8june2013">{{cite news|title=Federal cabinet unveiled: Enter the ministers |url=http://tribune.com.pk/story/560553/f|last1=Irfan Ghauri |access-date=27 October 2016 |work=The Express Tribune |date=8 June 2013 |ref=Tribune/profile |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029085327/http://tribune.com.pk/story/560553/federal-cabinet-unveiled-enter-the-ministers/ |archive-date=29 October 2016}}</ref><ref name="thenews/17march2008">{{cite news|title=New finance minister will have tough job |url=https://www.thenews.com.pk/archive/print/100862|access-date=4 January 2017 |work=The News International |date=17 March 2008 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20170104163851/https://www.thenews.com.pk/archive/print/100862-PAT-demands-regulatory-body-for-mosques-seminaries |archive-date= 4 January 2017}}</ref> Dar was director of finance in a London-based textile corporation from 1974 to 1976. Hired by Colonel Muammar Gaddafi,<ref>{{Cite news |last=Bhattacherjee |first=Kallol |date=2026-04-05 |title=Mohammad Ishaq Dar {{!}} At the global high table |url=https://www.thehindu.com/news/international/mohammad-ishaq-dar-profile-at-the-global-high-table/article70824500.ece |access-date=2026-04-13 |work=The Hindu |language=en-IN |issn=0971-751X}}</ref> 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.<ref name="ary/8oct2016" /><ref name="dawn/7june2013">{{cite news|last1=Ghumman |first1=Khawar |title=Experience and loyalty count in the PML-N kitchen cabinet |url=https://www.dawn.com/news/1016645 |access-date=27 October 2016 |work=Dawn|location=Pakistan|date=7 June 2013 |ref=dawn/7june2013 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029085545/http://www.dawn.com/news/1016645 |archive-date=29 October 2016}}</ref><ref>{{cite web|title=Mohammad Ishaq Dar: Executive Profile & Biography |url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=271878591&privcapId=874021 |publisher=Bloomberg L.P.|access-date=3 January 2017 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20170103165641/http://www.bloomberg.com/research/stocks/private/person.asp?personId=271878591&privcapId=874021 |archive-date= 3 January 2017}}</ref><ref name="bloomberg1" />
On returning to Pakistan in 1977, he became a partner in a chartered accountancy firm and in 1980, he became financial adviser to Nazir & Company, a multinational construction company.<ref name="tribune/14may2013">{{cite news|title=Right man for the job?: Senator Ishaq Dar tipped to be next finance minister |url=http://tribune.com.pk/story/548765/r|last1=Shahbaz Rana |access-date=7 October 2016 |work=The Express Tribune |date=14 May 2013 |ref=tribune |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029090021/http://tribune.com.pk/story/548765/right-man-for-the-job-senator-ishaq-dar-tipped-to-be-next-finance-minister/ |archive-date=29 October 2016}}</ref>
==Political career==
===Entry into politics and first Sharif ministry=== {{Main|First Nawaz Sharif government}} Dar began his political career in the late 1980s as a member of the central executive committee of the Pakistan Muslim League (N) (PML(N)).<ref name="dawn/25april2013">{{cite news|title=Mohammad Ishaq Dar profile |url=https://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 (NAB) 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 laundered "$14.68 million and opened 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, then–Prime Minister Nawaz Sharif appointed him as Chairman of the Pakistan Board of Investment with the status of Minister of State.<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" />
Dar first stood for the National Assembly in a by-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 International|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=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>
=== Role in the second Sharif ministry === {{Main|Second Nawaz Sharif government}}
In the 1997 general 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 |url-access=subscription |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" />
In December 1997, he was appointed Federal 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, India and then Pakistan tested nuclear weapons; Pakistan was subsequently economically sanctioned,<ref>{{cite news|title=Pakistan takes a beating|url=https://www.economist.com/asia/1998/08/20/pakistan-takes-a-beating|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 news |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 |date=29 May 1998 |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 |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 Minister for Finance,<ref name="pakistantoday/21sept2017" /> and negotiated an International Monetary Fund (IMF) bailout package.<ref name="pakistantoday/21sept2017" />
=== Military rule === In 1999, General Pervez Musharraf overthrew the Sharif ministry in a 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 news |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 |newspaper=The Washington Post}}</ref> Dar spent nearly two years<ref name="pakistantoday/21sept2017" /><ref name="thenews/17march2008" /> in jail on 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=https://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 ruling family.<ref name="dawn/25april2013" /> In 2002, he was made President of PML(N)'s International Affairs wing.<ref name="dawn/25april2013" />
After several months outside Pakistan,<ref name="pakistantoday/21sept2017" /><ref>{{cite news |date=12 January 2003 |title=LAHORE: Ishaq Dar returns to contest Senate polls |url=https://www.dawn.com/news/77182 |url-status=live |archive-url=https://web.archive.org/web/20170202004008/http://www.dawn.com/news/77182 |archive-date=2 February 2017 |access-date=21 January 2017 |work=Dawn |language=en}}</ref> 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.<ref name="pakistantoday/21sept2017" /> 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.<ref name="dawn/25april2013" /><ref name="pakistantoday/21sept2017" /> During his tenure as Member of the Senate between 2003 and 2012, he remained the Parliamentary Leader of the PML(N) in the Senate.<ref name="dawn/25april2013" /><ref name="nation/8march2012">{{cite news |date=8 March 2012 |title=Dar appointed Senate Parliamentary Leader of PML-N |url=http://nation.com.pk/08-Mar-2012/dar-appointed-senate-parliamentary-leader-of-pml-n |url-status=live |archive-url=https://web.archive.org/web/20171128090330/http://nation.com.pk/08-Mar-2012/dar-appointed-senate-parliamentary-leader-of-pml-n |archive-date=28 November 2017 |access-date=28 November 2017 |work=The Nation}}</ref>
=== Minister of Finance (2008) === {{Main|Gillani government}}
After the formation of a coalition government between the PPP and PML(N) with Yousaf Raza Gillani as Prime Minister,<ref>{{cite news |date=22 February 2008 |title=Zardari, Nawaz agree to form coalition |url=https://www.dawn.com/news/290486 |url-status=live |archive-url=https://web.archive.org/web/20170730151146/https://www.dawn.com/news/290486 |archive-date=30 July 2017 |access-date=30 July 2017 |work=Dawn |language=en}}</ref> 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,<ref>{{cite news |date=20 February 2008 |title=PPP, PML-N in sight of magical number |url=https://www.dawn.com/news/290178 |url-status=live |archive-url=https://web.archive.org/web/20170814060405/https://www.dawn.com/news/290178 |archive-date=14 August 2017 |access-date=13 August 2017 |work=Dawn |language=en}}</ref><ref>{{cite news |date=4 August 2010 |title=The winner has to share |url=https://www.dawn.com/news/550997 |url-status=live |archive-url=https://web.archive.org/web/20170805220957/https://www.dawn.com/news/550997/the-winner-has-to-share |archive-date=5 August 2017 |access-date=5 August 2017 |work=Dawn |language=en}}</ref> Dar due to his expertise in finance and economics,<ref name="thenews/17march2008" /><ref name="dawn/25april2013" /> 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<ref name="pakistantoday/21sept2017" /><ref>{{cite news |date=13 May 2013 |title=Ishaq Dar to become finance minister: PML-N spokesperson |url=https://www.dawn.com/news/1011133 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20170104164321/http://www.dawn.com/news/1011133 |archive-date=4 January 2017 |access-date=4 January 2017 |work=Dawn}}</ref><ref name="Tribune/8june2013" /><ref name="dawn/25april2013" /><ref name="bloomberg1" /> with the additional cabinet portfolio of revenue, economic affairs and statistics.<ref name="dawn/14may2008">{{cite news |date=14 May 2008 |title=Gilani to sit on resignations till Asif's return: Decision final: Nisar |url=https://www.dawn.com/news/302713 |url-status=live |archive-url=https://web.archive.org/web/20170730151211/https://www.dawn.com/news/302713 |archive-date=30 July 2017 |access-date=25 November 2017 |work=Dawn}}</ref> However, his tenure as Minister for Finance was short-lived after the PML(N) left the PPP-led coalition government in May 2008<ref name="dawn/14may2008" /><ref>{{cite news |last1=Wasim |first1=Amir |date=13 May 2008 |title=PML-N walks out after hitting brick wall: Judges issue splits coalition; ministers to quit federal cabinet today |url=https://www.dawn.com/news/302567 |url-status=live |archive-url=https://web.archive.org/web/20170730150456/https://www.dawn.com/news/302567 |archive-date=30 July 2017 |access-date=30 July 2017 |work=Dawn |language=en}}</ref> to lead the movement to impeach Pervez Musharraf and to restore the judiciary<ref>{{cite news |last1=Wasim |first1=Amir |date=26 August 2008 |title=Nawaz pulls out of coalition: Justice Saeeduz Zaman is PML-N candidate for president's post |url=https://www.dawn.com/news/318352 |url-status=live |archive-url=https://web.archive.org/web/20170814100021/https://www.dawn.com/news/318352/nawaz-pulls-out-of-coalition-justice-saeeduz-zaman-is-pml-n-candidate-for-president |archive-date=14 August 2017 |access-date=14 August 2017 |work=DAWN |language=en}}</ref> after the coalition failed to restore the judiciary, as agreed between PML(N) and PPP in the Bhurban Accord.<ref>{{cite news |last1=Zeeshan Haider |date=10 May 2008 |title=Pakistan coalition fails to break judges deadlock |url=https://www.reuters.com/article/idUSISL10441020080509 |url-status=live |archive-url=https://web.archive.org/web/20080519092219/http://www.reuters.com/article/idUSISL10441020080509 |archive-date=19 May 2008 |access-date=29 November 2017 |work=Reuters}}</ref> During his brief tenure as finance minister, he was criticized for causing the rupee fall, bank run and panic in the market.<ref>{{cite news |date=14 May 2013 |title=Right man for the job?: Senator Ishaq Dar tipped to be next finance minister |url=https://tribune.com.pk/story/548765/r |url-status=live |archive-url=https://web.archive.org/web/20170817035655/https://tribune.com.pk/story/548765/right-man-for-the-job-senator-ishaq-dar-tipped-to-be-next-finance-minister/ |archive-date=17 August 2017 |access-date=25 November 2017 |work=The Express Tribune}}</ref> Meanwhile, he has been credited for proposing the idea of the Benazir Income Support Programme,<ref>{{cite news |title=BISP: Success and future plans |url=http://nation.com.pk/09-Jan-2016/bisp-success-and-future-plans |url-status=live |archive-url=https://web.archive.org/web/20171111100311/http://nation.com.pk/09-Jan-2016/bisp-success-and-future-plans |archive-date=11 November 2017 |access-date=24 November 2017 |work=The Nation}}</ref><ref>{{cite news |date=23 May 2013 |title=UK says BISP was Ishaq Dar's brainchild |url=https://www.thenews.com.pk/archive/print/432122 |url-status=live |archive-url=https://web.archive.org/web/20171124091254/https://www.thenews.com.pk/archive/print/432122-uk-says-bisp-was-ishaq-dars-brainchild |archive-date=24 November 2017 |access-date=24 November 2017 |work=The News |language=en}}</ref><ref>{{cite news |last1=Ishtiaq |first1=Humair |date=30 October 2012 |title=Addressing poverty the BISP way |url=https://www.dawn.com/news/760087 |url-status=live |archive-url=https://web.archive.org/web/20140503153523/http://www.dawn.com/news/760087/addressing-poverty-the-bisp-way |archive-date=3 May 2014 |access-date=24 November 2017 |work=Dawn}}</ref><ref>{{cite news |title=PPP eyes 90 seats, 68 for PML-N and 45 for PTI |url=https://www.thenews.com.pk/archive/print/630381 |url-status=live |archive-url=https://web.archive.org/web/20171124091254/https://www.thenews.com.pk/archive/print/630381 |archive-date=24 November 2017 |access-date=24 November 2017 |work=The News |language=en}}</ref> a Pakistani government aid program to provide financial assistance to low-income families<ref>{{cite news |date=26 July 2016 |title=Pakistan committed to making cities safer, sustainable urbanisation: State Minister |url=https://dailytimes.com.pk/67576 |url-status=live |archive-url=https://web.archive.org/web/20171125123300/https://dailytimes.com.pk/67576/pakistan-committed-to-making-cities-safer-sustainable-urbanisation-state-minister/ |archive-date=25 November 2017 |access-date=25 November 2017 |work=Daily Times}}</ref><ref>{{cite news |date=18 January 2017 |title=Ways to evolve, redefine BISP discussed at WB workshop |url=https://www.thenews.com.pk/print/115327 |url-status=live |archive-url=https://web.archive.org/web/20171125123302/https://www.thenews.com.pk/print/115327-Ways-to-evolve-redefine-BISP-discussed-at-WB-workshop|archive-date=25 November 2017 |access-date=25 November 2017 |work=The News International|language=en}}</ref> which is said to be one of the largest in South Asia.<ref>{{cite web |title=Reaching the Poorest through Strengthening the Social Safety Net System in Pakistan |url=http://www.worldbank.org/en/country/pakistan/brief/reaching-the-poorest-through-strengthening-the-social-safety-net-system-in-pakistan |url-status=live |archive-url=https://web.archive.org/web/20171214182741/http://www.worldbank.org/en/country/pakistan/brief/reaching-the-poorest-through-strengthening-the-social-safety-net-system-in-pakistan |archive-date=14 December 2017 |access-date=14 December 2017 |website=World Bank |language=en}}</ref> 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.<ref>{{cite news |date=24 May 2013 |title=PPP replaced PISP with BISP, claims Ishaq Dar |url=https://www.dawn.com/news/1013291 |url-status=live |archive-url=https://web.archive.org/web/20171124091254/https://www.dawn.com/news/1013291 |archive-date=24 November 2017 |access-date=24 November 2017 |work=Dawn}}</ref>
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.<ref name="pakistantoday/21sept2017" /><ref name="dawn/25april2013" /> 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<ref name="pakistantoday/21sept2017" /><ref name="dawn/25april2013" /> after which he was re-appointed by Nawaz Sharif as the Parliamentary Leader of the PML(N) in the Senate.<ref name="nation/8march2012" /> A few days later he was elected as the Leader of the Opposition in the Senate,<ref>{{Cite web |date=2012-03-15 |title=Ishaq Dar new leader of opposition in Senate |url=https://www.dawn.com/news/702784/ishaq-dar-new-leader-of-opposition-in-senate |access-date=2023-02-21 |work=Dawn |language=en |location=Pakistan}}</ref> replacing Abdul Ghafoor Haideri<ref>{{cite news |date=15 March 2012 |title=Ishaq Dar new leader of opposition in Senate |url=https://www.dawn.com/news/702784 |url-status=live |archive-url=https://web.archive.org/web/20171125123302/https://www.dawn.com/news/702784 |archive-date=25 November 2017 |access-date=25 November 2017 |work=Dawn}}</ref><ref name="dawn/14mar2012">{{cite news |date=14 March 2012 |title=Ishaq Dar made opposition leader in Senate |url=https://www.dawn.com/news/702599 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029085909/http://www.dawn.com/news/702599/ishaq-dar-made-opposition-leader-in-senate |archive-date=29 October 2016 |access-date=7 October 2016 |work=Dawn |ref=dawn0}}</ref> for his negotiation skills with PPP government on major issues.<ref name="nation/30may2013" /> 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.<ref name="dawn/25april2013" /> 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.<ref name="dawn/25april2013" /><ref name="pakistantoday/21sept2017" />
===Minister of Finance (2013-2017)=== {{Main|Third Nawaz Sharif government|2013–14 Pakistan federal budget|2014–15 Pakistan federal budget|2015–16 Pakistan federal budget|2016–17 Pakistan federal budget}}
[[File:Mohammad Ishaq Dar in 2014 (cropped).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 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=https://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> 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=https://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 (ECC).<ref name=":1">{{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=https://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 |first1=Mian |last1=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 October 2016, the Finance Ministry announced that the IMF conferred the "Finance Minister of the Year for South Asia" award to Dar.<ref>{{cite news |last1=Shehbaz Rana |date=9 October 2016 |title=Ishaq Dar declared 'Finance Minister of the Year' |url=http://tribune.com.pk/story/1195911/d |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029093451/http://tribune.com.pk/story/1195911/doling-praises-ishaq-dar-declared-finance-minister-year/ |archive-date=29 October 2016 |access-date=9 October 2016 |work=The Express Tribune}}</ref> Dar was issued the award by an independent publication unaffiliated with the IMF but funded by five Pakistani state-owned firms.<ref>{{cite news |last1=Shehbaz Rana |date=14 October 2016 |title=IMF distances itself from Ishaq Dar's 'Finance Minister of the Year' award |url=http://tribune.com.pk/story/1198623/s |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029093618/http://tribune.com.pk/story/1198623/state-owned-firms-funded-emerging-markets-edition/ |archive-date=29 October 2016 |access-date=14 October 2016 |work=The Express Tribune}}</ref>
In July 2017, the Supreme Court disqualified both Dar and Sharif from office, following the publication of the Panama Papers.<ref>{{cite news |author=Drazen Jorgic |date=2017 |title=Pakistan's Supreme Court disqualifies Finance Minister Ishaq Dar: media |work=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 |author=Drazen Jorgic |date=2017 |title=Pakistan's new PM forms cabinet with an eye to 2018 poll |work=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 the chair of the ECC<ref name=":1" /> 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 |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 |author=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> Abbasi also removed Dar from the chairmanship of 35 committees of the National Assembly,<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> ''Pakistan Today'' quoted a source claiming that Sharif had ordered the reduction of Dar's influence.<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 it was possible he would 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 resigned on 22 November<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 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 retake 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>
Dar was credited with stabilising the economy after the 2013 balance of payments crisis locally and internationally,<ref>{{cite news |last1=Syed Raza Hassan |date=26 September 2017 |title=Pakistan searches for new finance minister after Dar relieved of duties |url=https://www.reuters.com/article/idUSKBN1DN1I1 |url-status=live |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 |access-date=28 November 2017 |work=Reuters}}</ref><ref>{{cite news |date=28 July 2017 |title=How Pakistan's Prime Minister Nawaz Sharif was brought down by a font |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 |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 |access-date=28 November 2017 |work=The Independent}}</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 |url=https://www.ft.com/content/b5b046de-7368-11e7-aca6-c6bd07df1a3c |url-status=live |archive-url=https://web.archive.org/web/20171011024240/https://www.ft.com/content/b5b046de-7368-11e7-aca6-c6bd07df1a3c |archive-date=11 October 2017 |access-date=28 November 2017 |work=Financial Times |location=London}}</ref><ref>{{cite news |last1=Haider |first1=Mehtab |title=Missing in action |url=https://www.thenews.com.pk/magazine/money-matters/243749- |url-status=live |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 |access-date=23 November 2017 |work=The News |language=en}}</ref><ref name="thenews/24nov2017">{{cite news |date=24 November 2017 |title=Global media, experts praise Dar's work to uplift Pak economy |url=https://www.thenews.com.pk/print/248222 |url-status=live |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 |access-date=24 November 2017 |work=The News |language=en}}</ref> but critics also alleged he had failed to implement structural reforms<ref name="dawn/27nov2017" /> and manipulated statistics.<ref name="tribune/22nov2017" /> in particularly steering country out of balance of payments crisis in 2013.<ref>{{cite news |title=Pakistan's Supreme Court disqualifies Finance Minister Ishaq Dar: media |work=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> Dar borrowed $35{{nbsp}}billion from foreign lenders.<ref name="nation/23nov2017">{{cite news |date=23 November 2017 |title=Economy demonstrates vibrant performance: Finance ministry |url=http://nation.com.pk/23-Nov-2017/economy-demonstrates-vibrant-performance-finance-ministry |url-status=live |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 |access-date=23 November 2017 |work=The Nation}}</ref>
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 |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 the court subsequently deemed him a fugitive.<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 |first=Haroon |last=Janjua |website=Organized Crime and Corruption Reporting Project |date=December 11, 2017}}</ref>
On 26 December, Abbasi promoted his special assistant on Economic Affairs Miftah Ismail to 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> succeeding 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 office as minister of finance until January 2018.<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>
===In opposition=== {{Main|Premiership of Imran Khan}}
In February 2018, the name of Dar was shortlisted by PML(N) amongst the candidate for March 2018 Senate election<ref>{{cite news |last1=Wasim |first1=Amir |date=7 February 2018 |title=Dar among PML-N candidates for Senate polls |url=https://www.dawn.com/news/1387807 |url-status=live |archive-url=https://web.archive.org/web/20180207053606/https://www.dawn.com/news/1387807 |archive-date=7 February 2018 |access-date=7 February 2018 |work=DAWN}}</ref> after which Dar filed his nomination papers for a general seat and a technocrat seat in the Senate.<ref name="tribune/17feb2018">{{cite news |date=17 February 2018 |title=LHC grants Ishaq Dar permission to contest Senate elections – The Express Tribune |url=https://tribune.com.pk/story/1637376/1 |url-status=live |archive-url=https://web.archive.org/web/20180220045838/https://tribune.com.pk/story/1637376/1/ |archive-date=20 February 2018 |access-date=17 February 2018 |work=The Express Tribune}}</ref> However the Election Commission of Pakistan (ECP) rejected his nomination papers.<ref>{{cite news |title=ECP rejects Ishaq Dar's Senate nomination papers |url=https://www.geo.tv/latest/181580 |url-status=live |archive-url=https://web.archive.org/web/20180220045836/https://www.geo.tv/latest/181580 |archive-date=20 February 2018 |access-date=12 February 2018 |work=geo.tv}}</ref><ref>{{cite news |date=12 February 2018 |title=Ishaq Dar's Senate nomination papers rejected: ECP – The Express Tribune |url=https://tribune.com.pk/story/1632929/1 |url-status=live |archive-url=https://web.archive.org/web/20180220045838/https://tribune.com.pk/story/1632929/1/ |archive-date=20 February 2018 |access-date=12 February 2018 |work=The Express Tribune}}</ref> On 17 February, Lahore High Court granted permission to Dar to participate in the Senate elections.<ref name="tribune/17feb2018" /> On 22 February, the ECP declared all PML(N) candidates for the Senate election as independent after a ruling of the Supreme Court.<ref>{{cite news |date=22 February 2018 |title=PML-N's Senate nominees to contest election as independent candidates, says ECP |url=https://www.dawn.com/news/1391004 |access-date=22 March 2018 |work=Dawn |location=Pakistan}}</ref> On 3 March 2018, he was re-elected to the Senate as an independent candidate on technocrat seat from Punjab<ref>{{cite news |date=3 March 2018 |title=LIVE: PML-N-backed independent candidates lead in Punjab, PPP in Sindh – The Express Tribune |url=https://tribune.com.pk/story/1649842/1-live-polling-begins-52-senate-seats/ |access-date=3 March 2018 |work=The Express Tribune}}</ref><ref>{{cite news |last1=Khan |first1=Iftikhar A. |date=4 March 2018 |title=PML-N gains Senate control amid surprise PPP showing |url=https://www.dawn.com/news/1393083/pml-n-gains-senate-control-amid-surprise-ppp-showing |access-date=4 March 2018 |work=Dawn |location=Pakistan}}</ref> with the backing by PML(N).<ref>{{cite news |title=PML-N backed candidates win 15 seats in Senate Elections |url=https://en.dailypakistan.com.pk/headline/polling-for-52-senate-seats-set-to-begin-shortly/ |access-date=22 March 2018 |work=Daily Pakistan Global |archive-date=22 March 2018 |archive-url=https://web.archive.org/web/20180322205739/https://en.dailypakistan.com.pk/headline/polling-for-52-senate-seats-set-to-begin-shortly/ |url-status=dead }}</ref> On 12 March 2018, he ceased to hold the position of a federal minister due to expiration of his Senate term.<ref>{{cite news |date=15 March 2018 |title=Dar, Michael, Kareem no more ministers |url=https://www.thenews.com.pk/print/292631-dar-michael-kareem-no-more-ministers |access-date=24 March 2018 |work=The News |language=en}}</ref>
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.<ref>{{cite news |date=30 June 2018 |title=Pakistan Election Commission suspends PML-N leader Ishaq Dar's senate membership |url=https://www.financialexpress.com/world-news/pakistan-election-commission-suspends-pml-n-leader-ishaq-dars-senate-membership/1226276/ |access-date=10 July 2018 |work=The Financial Express}}</ref> As of June 2018, he did not take oath of Senator. In June 2018, the ECP suspended the Senate membership of Dar.<ref>{{cite news |date=30 June 2018 |title=ECP suspends Dar's Senate membership |url=https://nation.com.pk/30-Jun-2018/ecp-suspends-dar-s-senate-membership |access-date=10 July 2018 |work=The Nation}}</ref> On 10 July, the Supreme Court ordered Dar to appear before court within three days.<ref>{{cite news |date=10 July 2018 |title=SC orders Dar to appear within three days |url=https://www.dawn.com/news/1419052/sc-orders-dar-to-appear-within-three-days |access-date=10 July 2018 |work=Dawn |location=Pakistan}}</ref> Interpol Red Notice for Dar was issued by the government of Pakistan on 14 July to bring him back to Pakistan.<ref>{{cite news |date=14 July 2018 |title=Red Warrants for Ishaq Dar issued, SC told |url=https://www.thenews.com.pk/latest/341637-red-warrants-for-ishaq-dar-issued-sc-told |access-date=14 July 2018 |work=The News International |language=en}}</ref>
In August 2018, the National Accountability Bureau approved an inquiry into a graft case against Dar for illegally awarding a Next Generation Mobile Services contract and for committing alleged financial irregularities.<ref>{{cite news |date=4 August 2018 |title=Day of wholesale inquiries: NAB initiates massive action |url=https://www.thenews.com.pk/print/350323-day-of-wholesale-inquiries-nab-initiates-massive-action |access-date=4 August 2018 |work=The News |language=en}}</ref><ref>{{cite news |date=4 August 2018 |title=NAB authorises inquiries against two ex-ministers|url=https://tribune.com.pk/story/1772884/1-nab-authorises-inquiries-two-ex-ministers/ |access-date=4 August 2018 |work=The Express Tribune}}</ref> In September, his passport was cancelled by the government of Pakistan making him a stateless person.<ref>{{Cite web |url=https://www.thenews.com.pk/latest/366173-ishaq-dar-stateless-in-london-after-diplomatic-passport-cancelled|title=Ishaq Dar stateless in London after diplomatic passport cancelled|first=Murtaza Ali|last=Shah|date=9 September 2018|website=The News International}}</ref><ref>{{cite news |date=9 September 2018 |title=Govt cancels Dar's diplomatic passport |url=https://tribune.com.pk/story/1798789/1-govt-cancels-dars-passport/ |access-date=9 September 2018 |work=The Express Tribune}}</ref> 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.<ref>{{cite news |date=14 September 2018 |title=Britain rejects Pak's petition to deport Ishaq Dar |url=https://nation.com.pk/14-Sep-2018/britain-rejects-paks-petition-to-deport-ishaq-dar |access-date=14 September 2018 |work=The Nation}}</ref><ref>{{cite news |date=14 September 2018 |title=UK rejects online petition seeking Ishaq Dar's deportation |url=https://www.geo.tv/latest/211208-uk-rejects-online-petition-seeking-ishaq-dars-deportation |access-date=16 September 2018 |work=Geo News}}</ref>
=== Minister of Finance (2022–2023) === {{Further|First Shehbaz Sharif government|2023–24 Pakistan federal budget}}
Dar was appointed minister of finance in September 2022<ref>{{Cite web |title=Ishaq Dar to become Pakistan's finance minister for fourth time |url=https://asia.nikkei.com/Politics/Ishaq-Dar-to-become-Pakistan-s-finance-minister-for-fourth-time |access-date=2023-07-06 |website=Nikkei Asia |language=en-GB}}</ref> and served until August 2023. His tenure coincided with a challenging economic period, marked by high inflation and the need for International Monetary Fund (IMF) assistance. In January 2023, Dar sought US assistance in obtaining IMF funding in view of recent floods and adverse economic conditions.<ref name=":0">{{Cite web |last=Kiani |first=Khaleeq |date=2023-01-26 |title=US help sought for IMF programme revival |url=https://www.dawn.com/news/1733657 |access-date=2023-01-26 |work=Dawn |language=en |location=Pakistan}}</ref><ref>{{Cite web |date=2023-05-27 |title=Dar, US envoy meet amid stalled IMF program |url=https://www.nation.com.pk/27-May-2023/dar-us-envoy-meet-amid-stalled-imf-program |access-date=2023-07-06 |website=The Nation |language=en-US}}</ref>
Imran Khan's administration had previously initiated negotiations with the IMF for a bailout program, but these talks stalled before his departure in April 2022.
During Dar's tenure, Pakistan experienced high inflation peaking at 37.97% and significant interest rate hikes reaching 21%.<ref>{{Cite web |last=Abbas |first=Ghulam |date=2023-06-09 |title=New govt to pursue IMF for next loan program, says Ishaq Dar |url=https://profit.pakistantoday.com.pk/2023/06/09/new-govt-to-pursue-imf-for-next-loan-program-says-ishaq-dar/ |access-date=2024-03-19 |website=Profit by Pakistan Today |language=en-US}}</ref> These developments can be attributed, according to some critics, to the policy requirements of the IMF program.
Dar's approach involved advocating for market intervention to stabilize the Pakistani rupee, a strategy that reportedly differed from the IMF's recommendations. Additionally, he publicly criticized the IMF during negotiations, potentially impacting the process.<ref name=":2">{{Cite web |date=2024-03-11 |title=Pakistan's former finance chief takes up role as foreign minister |url=https://au.news.yahoo.com/pakistans-former-finance-chief-takes-184559559.html |access-date=2024-03-19 |website=Yahoo News |language=en-AU}}</ref>
Pakistan faced a seven-month-long struggle to release the remaining tranches of its final $6.5 billion bailout program. Despite delays, Dar negotiated a deal with the IMF, with Prime Minister Shehbaz Sharif playing a pivotal role in finalizing the agreement.<ref name=":2" />
In 2023, he was nominee of position of Caretaker Prime Minister of Pakistan before being ruled out in favour of Anwaar-ul-Haq Kakar.
=== Foreign Minister (2024–present) === [[File:2025 Marco Rubio meets Deputy Prime Minister of Pakistan and Foreign Minister Ishaq Dar at the Department of State in Washington, D.C. on 25 July.jpg|thumb|Dar with United States Secretary of State Marco Rubio in Washington, D.C., July 2025]] During the 2024 election campaign, Ishaq Dar's policies were heavily criticized. He was blamed for mismanaging the government response to the ongoing economic crisis. This led to the speculation that he may be nominated as Chairman of the Senate. However, the power-sharing formula following the coalition agreement between PPP and PMLN resulted in senate chairmanship being allotted to PPP and National Assembly speakership being given to PMLN. Hence, he was sworn-in as a federal minister. He was appointed as the 38th Foreign Minister of Pakistan the following day. This emphasizes Shehbaz administration's shifting focus towards a geoeconomic foreign policy. His senate term ended the day he took charge of the foreign ministry. In the 2024 Pakistani Senate election, he sought reelection. During the Senate elections on 2 April 2024, he secured victory for a technocrat seat representing Islamabad by receiving 222 votes.<ref>{{Cite web |author1=Abdul Hakeem |author2=Arif Hayat |author3=Shoaib Ahmed |author4=Tahir Siddiqui |author5=Nadir Guramani |date=2024-04-02 |title=Coalition sweeps polls on 19 Senate seats |url=https://www.dawn.com/news/1825232 |access-date=2024-04-02 |website=DAWN|language=en}}</ref> [[File:Foreign Secretary David Lammy visits Islamabad, Pakistan on 16 May 2025 - 3.jpg|thumb|Dar with British Foreign Secretary David Lammy in Islamabad a few days after Pakistan's brief conflict with India, May 2025]] Dar expressed intentions to thoroughly assess the trade situation with India following concerns raised by the business community.<ref>{{Cite web |date=2024-03-24 |title=Dar says Pakistan to examine trade situation with India |url=https://www.dawn.com/news/1823516 |access-date=2024-03-24 |website=Dawn |language=en}}</ref> Bilateral trade between the two countries has been on hold since August 2019, due to tensions sparked by India's move to revoke Kashmir's special status.
Dar conveyed his concerns about terrorist hideouts in neighboring Afghanistan to the country's Interim Foreign Minister, Amir Khan Muttaqi, following the North Waziristan terror attack on the Pakistan Army,<ref>{{Cite web |title=Pakistan: 7 soldiers killed in attack on military post |date=2024-03-16 |url=https://www.dw.com/en/pakistan-7-soldiers-killed-in-attack-on-military-post/a-68591321 |access-date=2024-03-24 |website=Deutsche Welle |language=en}}</ref> resulting in the deaths of seven security force members. He expressed disappointment at the perceived lack of substantial action from Afghanistan in addressing terrorist groups operating from its territory.
On 28 April 2024, Dar was given the additional charge of Deputy Prime Minister of Pakistan.<ref>{{cite news |title=Foreign Minister Ishaq Dar appointed deputy prime minister |url=https://www.dawn.com/news/1830191/foreign-minister-ishaq-dar-appointed-deputy-prime-minister |work=Dawn |date=28 April 2024 |language=en}}</ref>
Dar described the killings in Gaza as a "genocide" of Palestinians and called for an "immediate and unconditional" ceasefire.<ref>{{cite news |title=Saudi Arabia, Pakistan call for cease-fire in Gaza |url=https://www.voanews.com/a/saudi-arabia-pakistan-call-for-cease-fire-in-gaza/7572513.html |work=Voice of America |date=16 April 2024}}</ref>
In October 2024, Ishaq Dar replaced Musadik Malik as Chairman of Sugar Monitoring Committee. ''Business Recorder'' commented that Dar was to take "lenient" decisions compared to "harsh" attitude.<ref>{{Cite web |last=Ghumman |first=Mushtaq |date=2024-10-19 |title=Dar replaces Malik as sugar monitoring body chief |url=https://www.brecorder.com/news/40327935/dar-replaces-malik-as-sugar-monitoring-body-chief |access-date=2024-10-19 |website=Business Recorder |language=en}}</ref> ''The Express Tribune'' wrote that Malik had been "vocal in his criticism of sugar millers for violating the export conditions imposed by the government."<ref>{{Cite web |last=Bhutta |first=Zafar |date=2024-10-18 |title=Minister ousted from sugar body |url=https://tribune.com.pk/story/2503637/minister-ousted-from-sugar-body |access-date=2024-10-19 |website=The Express Tribune |language=en}}</ref> Dar was also placed as Chairman of the Iran-Pakistan gas line project.<ref>{{Cite web |title=PM reconstitutes panels on IP gas pipeline, sugar export |url=https://www.thenews.com.pk/print/1241695-pm-reconstitutes-panels-on-ip-gas-pipeline-sugar-export |access-date=2024-10-19 |website=The News International |language=en}}</ref>
In July 2025, Dar addressed the 32nd ASEAN Regional Forum (ARF), calling for enhanced global cooperation to address emerging non-traditional security threats such as climate change, cyber risks, pandemics, and maritime security. He reaffirmed Pakistan's support for ASEAN's strategic vision outlined in the Kuala Lumpur Declaration on ASEAN 2045. Dar also highlighted regional tensions, reiterating Pakistan's position on the Jammu and Kashmir dispute and calling for adherence to international law and preventive diplomacy. His remarks came amid growing regional strain following India's Operation Sindoor and the indefinite suspension of the Indus Waters Treaty, which have placed Pakistan's foreign policy under heightened pressure in multilateral forums.<ref>{{Cite web |date=2025-07-12 |title=At 32nd ARF, Dar urges global cooperation in face of mounting regional, int'l challenges |url=https://www.pakistantoday.com.pk/2025/07/12/at-32nd-arf-dar-urges-global-cooperation-in-face-of-mounting-regional-intl-challenges/ |access-date=2025-07-13 |work=Pakistan Today |language=en-US}}</ref> [[File:Ishaq Dar Meets Muhammad Yunus Dhaka 2025-08-24 (PID-0000167).jpg|thumb|Dar with Bangladeshi Chief Adviser Muhammad Yunus in Dhaka, August 2025]] In August 2025, Dar visited Bangladesh, a year after Bangladesh's July Revolution, in which Sheikh Hasina was ousted from power.<ref>{{Cite web |title=Pakistan FM visits Dhaka to boost ties amid Bangladesh-India tensions |url=https://www.aljazeera.com/news/2025/8/24/pakistan-foreign-minister-in-bangladesh-for-historic-visit-to-boost-ties |access-date=2025-09-29 |website=Al Jazeera |language=en-US}}</ref> Dar was the first senior Pakistani official to visit Bangladesh since 2012, signalling a major diplomatic reset amid Bangladesh's icing relations with neighbouring India.<ref>{{Cite magazine |title=Ishaq Dar's Dhaka Visit Signals New Era in Bangladesh-Pakistan Ties |url=https://thediplomat.com/2025/08/ishaq-dars-dhaka-visit-signals-new-era-in-bangladesh-pakistan-ties/ |access-date=2025-09-29 |magazine=The Diplomat |language=en-US}}</ref>
In September 2025, during an interview with ''Al Jazeera'', Ishaq Dar contradicted Donald Trump's claim that Washington had brokered peace between India and Pakistan during the 2025 India-Pakistan conflict. Dar said that when a ceasefire offer was relayed by Secretary Marco Rubio on 10 May, it was suggested that talks with India would follow at an "independent place". However, during a meeting on 25 July in Washington, Rubio told him that India considered the matter a bilateral issue implying that mediation was declined.<ref>{{Cite web |date=2025-09-16 |title=India rejected third-party mediation during Op Sindoor, says Pakistan's Ishaq Dar, disputing Trump's claim |url=https://www.firstpost.com/world/india-rejected-third-party-mediation-during-op-sindoor-says-pakistans-ishaq-dar-disputing-trumps-claim-13934305.html |access-date=2025-09-17 |website=Firstpost |language=en-us}}</ref>
In November 2025, Ishaq Dar met with NATO Secretary General Mark Rutte in Brussels to discuss deeper cooperation on regional security, counterterrorism, and the strengthening of the Pakistan–NATO partnership.<ref>{{cite news |last1=Gokce |first1=Saadet |title=NATO chief, Pakistan's foreign minister discuss cooperation |url=https://www.aa.com.tr/en/asia-pacific/nato-chief-pakistans-foreign-minister-discuss-cooperation/3749402 |work=Anadolu Agency |date=20 November 2025}}</ref>
During the 2026 Afghanistan–Pakistan War, Ishaq Dar served as the primary diplomatic figure, managing the fallout of escalated border hostilities and coordinating Pakistan's international response.<ref>{{cite news |title=Pakistan making 'full diplomatic efforts' to de-escalate situation in Middle East, says Dar |url=https://www.dawn.com/news/1977486 |work=Dawn |date=2 March 2026}}</ref> Following the intensification of border clashes in February 2026, Dar focused on intense diplomatic efforts to manage the crisis while maintaining a firm stance on national sovereignty.<ref>{{cite news |title=No compromise on country's sovereignty: Ishaq Dar |url=https://www.radio.gov.pk/02-03-2026/pakistan-remains-a-strong-proponent-of-regional-peace-dpm |work=Radio Pakistan |date=2 March 2026}}</ref>
In March 2026, Ishaq Dar condemned the joint Israeli-American strikes on Iran.<ref>{{Cite web |url=https://islamabadpost.com.pk/pakistan-condemns-unwarranted-attacks-against-iran-calls-for-halt-to-escalation/|title=Pakistan condemns unwarranted attacks against Iran, calls for halt to escalation|date=28 February 2026}}</ref> Citing the September 2025 bilateral Strategic Mutual Defence Agreement, Dar warned Tehran against retaliation targeting Saudi Arabia.<ref>{{cite news |last1=Khurram |first1=Shahjahan |title=Pakistan reminded Iran of Saudi defense pact while seeking to limit Gulf escalation — Dar |url=https://www.arabnews.pk/node/2635098/pakistan |work=Arab News PK |date=4 March 2026}}</ref>
On April 11th 2026, Ishaq Dar welcomed Both the US and Iran delegation for peace talks in Islamabad. After the conclusion of peace talks, Dar expressed hope that both the sides would maintain communication and uphold the ceasefire <ref>{{Cite web |title=In pictures: Iran, US delegations accorded warm welcome upon arrival in Pakistan |url=https://www.dawn.com/news/1990753 |access-date=2026-04-12 |website=Dawn |language=en}}</ref> <ref>{{Cite web |title=Dar says talks ended this morning, hopes US and Iran will ‘continue with positive spirit’ for peace |url=https://www.dawn.com/news/1991022 |access-date=2026-04-12 |website=Dawn |language=en}}</ref>
In May 2026, during U.S.–Iran talks mediated by Pakistan, U.S. President Donald Trump stated that Pakistan and several other Muslim-majority countries would join the Abraham Accords as part of a broader agreement with Iran.<ref>{{Cite web |title=Trump links Abraham Accords to any Iran deal |url=https://www.reuters.com/world/middle-east/trump-links-abraham-accords-iran-deal-2026-05-25/}}</ref><ref>{{Cite web |last=Whitehurst |first=-Lindsay |last2=Whitehurst |first2=Associated Press Lindsay |last3=Press |first3=Associated |date=2026-05-25 |title=Trump says Iran deal should include additional countries joining Abraham Accords |url=https://www.pbs.org/newshour/world/trump-says-iran-deal-should-include-additional-countries-joining-abraham-accords |access-date=2026-05-31 |website=PBS News |language=en-us}}</ref> Dar subsequently rejected speculation that Pakistan might normalize relations with Israel, reaffirming Pakistan's longstanding position that it would not recognize Israel until the establishment of an independent Palestinian state based on the pre-1967 borders, with East Jerusalem as its capital.<ref>{{Cite web |date=2026-05-30 |title=Pakistan rules out joining Abraham Accords before Palestinian statehood |url=https://arab.news/zvqx6 |access-date=2026-05-31 |website=Arab News |language=en}}</ref><ref>{{Cite web |last=Jadoon |first=Saleem |date=2026-05-29 |title=Ishaq Dar Rejects Abraham Accords, Backs Palestinian State |url=https://www.pakistantoday.com.pk/2026/05/30/dar-rejects-abraham-accords-pressure-reaffirms-pakistans-firm-palestine-stance |access-date=2026-05-31 |website=Pakistan Today |language=en}}</ref>
==Daronomics== {{main|Daronomics}}
Ishaq Dar served as finance minister of Pakistan across four terms, implementing economic policies known as Daronomics.<ref>{{Cite web|url=https://www.independenturdu.com/node/128081|title=اسحاق ڈار کی معاشی پالیسیوں سے پاکستان کا کتنا نقصان ہوا؟|first=Mian Imran|last=Ahmed|date=February 4, 2023|website=The Independent|language=ur}}</ref><ref>{{Cite web|url=https://www.dawn.com/news/1727188|title=The fault in our Dar(s)|first=Uzair M.|last=Younus|date=December 20, 2022|website=Dawn}}</ref> These policies included maintaining a fixed dollar-rupee exchange rate, supported by foreign currency loans, keeping the State Bank of Pakistan's policy rate low, and managing inflation through subsidies and cheap imports. While aimed at regulating the economy, these measures faced criticism for lacking long-term sustainability.<ref>{{Cite web|url=https://www.dawn.com/news/1712406|title=Daronomics: The fallacy of fixing currency price|first=Ammar H.|last=Khan|date=September 28, 2022|website=Dawn}}</ref><ref>{{Cite web|url=https://www.arabnews.com/node/2169831/amp|title=Investors pin hopes on 'Daronomics' as Ishaq Dar returns to Pakistan as new finance minister|website=Arab News}}</ref><ref>{{Cite web|url=https://tribune.com.pk/story/2383963/daronomics-good-or-bad|title=Daronomics: good or bad?|first=Manzoor|last=Ahmad|date=October 31, 2022|website=The Express Tribune}}</ref>
During his 1998–1999 term, Dar responded to a devaluation crisis by confiscating $11 billion from local dollar accounts, converting them at the official rate of Rs 46 per dollar.<ref>{{Cite web |url=https://asianstudies.github.io/area-studies/SouthAsia/SAserials/Dawn/1998/04Jul98.html |title=Withdrawal from fresh deposits allowed |first=Mohiuddin |last=Aazim |date=July 2, 1998 |website=Dawn}}</ref> This led overseas Pakistanis to rely on informal remittance channels.<ref name="economist1998">{{Cite news|url=https://www.economist.com/asia/1998/08/20/pakistan-takes-a-beating |title=Pakistan takes a beating |date=August 20, 1998 |newspaper=The Economist}}</ref> His 2013–2017 tenure focused on stabilizing the exchange rate by injecting dollars into the market, which ultimately worsened the current account deficit and contributed to Pakistan's 2019 IMF bailout.<ref name="auto">{{Cite web|url=https://www.dawn.com/news/1712384|title=Return of the 'Dar' Ages|first=Zahid|last=Hussain|date=September 28, 2022|website=Dawn}}</ref><ref>{{Cite web|url=https://www.thenews.com.pk/print/995441-daronomics-2013-2017|title=How did Ishaq Dar perform in his previous term as finance minister?|website=The News International}}</ref>
==Personal life== === Family === He is regarded as the most trusted aide of the Sharif family.<ref>{{Cite web |date=2022-09-24 |title=Dar set to become financial czar – again |url=https://tribune.com.pk/story/2378395/dar-set-to-become-financial-czar-again |access-date=2023-02-26 |website=The Express Tribune |language=en}}</ref> In 2004, Dar's eldest son married Nawaz Sharif's daughter Asma Nawaz in Jeddah, Saudi Arabia.<ref>{{cite news|title=Dar gets PM's mandate |url=https://dailytimes.com.pk/75677|access-date=8 October 2016 |work=Daily Times |last1=Shahzad Raza |date=15 June 2016 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029093624/http://dailytimes.com.pk/pakistan/15-Jun-16/dar-gets-pms-mandate |archive-date=29 October 2016}}</ref><ref>{{cite news|last1=Iqbal|first1=Abdullah |title=Wedding bells for Nawaz son, daughter |url=http://gulfnews.com/1.323632|access-date=14 October 2016 |work=Gulf News |date=29 May 2004 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029093644/http://gulfnews.com/news/asia/pakistan/wedding-bells-for-nawaz-son-daughter-1.323632 |archive-date=29 October 2016}}</ref>
=== Philanthropy === Dar runs two charitable organisations, the Hajveri Foundation and the Hajveri Trust.<ref>{{Cite web |date=2018-01-24 |title=Corruption reference: Court unfreezes accounts of Dar's welfare trusts |url=https://tribune.com.pk/story/1617061/corruption-reference-court-unfreezes-accounts-dars-welfare-trusts |access-date=2023-02-26 |website=The Express Tribune |language=en}}</ref> These organizations are named after Ali al-Hujwiri, an 11th-century Persian Islamic scholar and Sufi; Dar regularly visits his shrine, Data Darbar in Lahore, and has identified with Sufi teachings.<ref>{{Cite web |last=Rasheed |first=Safdar |date=2026-04-06 |title=Dar visits Data Ganj Bakhsh shrine |url=https://www.brecorder.com/news/40414914 |access-date=2026-04-11 |website=Brecorder |language=en}}</ref> 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.<ref name="dawn/25april2013" />
=== Business === Dar's declared assets stand at PKR.{{nbsp}}583{{nbsp}}million<ref>{{Cite web |title=Ishaq Dar's assets unfrozen in assets beyond means case |url=https://www.thenews.com.pk/latest/1028097-ishaq-dars-assets-unfrozen-in-assets-beyond-means-case |access-date=2023-02-26 |website=The News International |language=en}}</ref> and investments at PKR. 325 million in Pakistan Investment Bonds.<ref>{{cite web|author1=Irfan Ghauri|author2=Qadeer Tanoli|title=Assets details: Nawaz retains status of a billionaire|url=https://tribune.com.pk/story/1436754/a|work=The Express Tribune|access-date=19 August 2017|date=16 June 2017|url-status=live|archive-url=https://web.archive.org/web/20170731160728/https://tribune.com.pk/story/1436754/__trashed-118/|archive-date=31 July 2017}}</ref> As of February 2022, all his personal assets,<ref>{{Cite web |date=2023-01-07 |title=Dar's bank accounts unfrozen, assets restored |url=https://tribune.com.pk/story/2394699/dars-bank-accounts-unfrozen-assets-restored |access-date=2023-02-26 |website=The Express Tribune |language=en}}</ref> assets belonging to his family<ref>{{Cite web |date=2022-12-29 |title=Authorities unfreeze Dar's assets |url=https://tribune.com.pk/story/2393276/authorities-unfreeze-dars-assets |access-date=2023-02-26 |website=The Express Tribune |language=en}}</ref> and those owned by his charitable organizations have been unfrozen under court orders.<ref>{{Cite web |last=Asad |first=Malik |date=2023-01-08 |title=Court issues order to unfreeze Ishaq Dar's assets |url=https://www.dawn.com/news/1730521 |access-date=2023-02-26 |work=Dawn|location=Pakistan |language=en}}</ref>
==Notes== {{notelist}}
== References == {{reflist}}
== External links ==
* [https://www.finance.gov.pk/profile_minister_sep_2022.html Finance Division - Government of Pakistan] * [https://senate.gov.pk/en/profile.php?uid=765 Senate of Pakistan] * [https://senate.gov.pk/en/profile.php?uid=14 Senate of Pakistan] * [https://www.icap.org.pk/safaconference/profiles/muhammad_ishaq_dar.php Mr. Muhammad Ishaq Dar - ICAP SAFA Conference 2016]
{{Deputy prime ministers of Pakistan}} {{Sharif III Cabinet}} {{Abbasi Cabinet}}
{{DEFAULTSORT:Dar, Ishaq}} Category:Living people Category:1950 births Category:Pakistani accountants Category:Pakistani expatriates in Libya Category:Pakistani expatriates in the United Kingdom Category:Pakistani prisoners and detainees Category:Politicians from Lahore Category:Pakistani MNAs 1993–1996 Category:Pakistani MNAs 1997–1999 Category:Pakistani people of Kashmiri descent Category:Pakistani senators (14th Parliament) Category:Pakistan Muslim League (N) MNAs Category:Ministers of finance of Pakistan Category:Government College University, Lahore alumni Category:Hailey College of Commerce alumni Category:World Bank people Category:Recipients of Nishan-e-Imtiaz Category:Pakistani officials of the United Nations Category:Pakistani politicians convicted of corruption Category:Pakistani exiles Category:Pakistani Muslims Category:Pakistani Sufis Category:Good articles Category:Deputy prime ministers of Pakistan Category:Ministers for foreign affairs of Pakistan Category:Commerce ministers of Pakistan