New Delhi (Sputnik): Pakistan's Finance Minister Asad Umar, who was until recently in the middle of a bailout negotiation for his country with the International Monetary Fund (IMF), has resigned from the Cabinet of Prime Minister Imran Khan.
"As part of a cabinet reshuffle, [the] prime minister desired that I take the energy minister [role] instead of finance," he said. "However, I have obtained his consent to not take any cabinet position."
As part of a cabinet reshuffle PM desired that I take the energy minister portfolio instead of finance. However, I have obtained his consent to not take any cabinet position. I strongly believe @ImranKhanPTI is the best hope for Pakistan and inshallah will make a naya pakistan— Asad Umar (@Asad_Umar) April 18, 2019
Pakistan's economy is witnessing a severe crisis, with the country's foreign exchange reserve falling to around six billion USD earlier this year and the Asian Development Bank forecasting a further slump in economic growth to 3.9 per cent in fiscal 2019, down from 5.2 per cent in 2018.