Senator Mohammad Ishaq Dar born 13 May 1950. He is a chartered accountant, financial-cum-economic expert and the incumbent federal finance minister of Pakistan. He served as the commerce minister once, finance minister thrice and also as the leader of the opposition in the Senate of Pakistan. He was pivotal in negotiating an IMF rescue package to meet an economic crisis triggered by sanctions imposed on Pakistan after the nuclear tests in May 1998.
Dar's first term as finance minister was cut short by coup d'état by General Pervez Musharraf. His past economic policies have emphasised greatly on export-led growth and are often criticised by economists at the World Bank who make fun of them by nicknaming them "Darnomics". He served as the finance minister a second time during the PPP-led coalition government in 2008. Following political differences, PML-N ministers including Dar resigned just six months into the new government. He became the finance minister for a third time on 7 June 2013 after the 2013 general elections.
Dar was elected unopposed in the 2012 Senate elections and was nominated as the leader of the opposition in the Senate on 14 March 2012. He is currently PML-N's parliamentary leader in the Senate. Dar has a strong alliance with prime minister Nawaz Sharif going back decades to the time when Dar worked as a young clerk for Sharif's Ittefaq Group. After the marriage of his eldest son Ali Mustafa Dar with Sharif's daughter Asma Nawaz in 2004, this relationship was further cemented.
Early life and education
Dar was born on 13 May 1950 in Lahore, Punjab. He completed his education at Government College (now Government College University), Lahore and Hailey College of Commerce, Punjab University, Lahore (1966–69). He was awarded two gold medals and an honour roll after obtaining the first position in Bachelor of Commerce (honours) at the University of Punjab. After completing his higher education, Dar trained as a chartered accountant with the Institute of Chartered Accountants in England and Wales (ICAEW) in 1970, and became an associate member (ACA) in 1974. He also became an associate member with the Institute of Chartered Accountants of Pakistan (ICAP) in 1975. Later he earned a fellowship membership (FCA) with ICAEW in 1980 and with ICAP in 1984. He also became a fellow of the Pakistan Institute of Public Finance Accountants (PIPFA) in subsequent time. Dar now holds a life membership of ICAEW as of January 2012.
Dar has served as a parliamentarian for the last 20 years, and is currently serving his fifth term as a member of the parliament. He was elected as a member of the National Assembly twice (1993–96 and 1997–99) and was also elected as a senator for three consecutive years subsequently. After being appointed the parliamentary leader from Pakistan Muslim League (N) (PML-N), he served as a leader of the opposition in the Senate in 2012. His current term as a senator expires in March 2018.