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As Dr Abdul Hafeez Shaikh starts official business as federal minister for finance, he has fewer powers than he enjoyed until last week as adviser to the prime minister on finance and revenue. AP/File
As Dr Abdul Hafeez Shaikh starts official business as federal minister for finance, he has fewer powers than he enjoyed until last week as adviser to the prime minister on finance and revenue.
The continuation of Dr Shaikh as head of the economic team was important to ensure stability in the markets and maintain existing engagements with the International Monetary Fund (IMF) that had kept its $6 billion Extended Fund Facility (EFF) virtually suspended for almost a year and yet provided $1.4bn emergency support following the Covid-19 outbreak.