Senator Ishaq Dar was sworn in as federal finance minister on Wednesday at a ceremony held at the Aiwan-e-Sadar.
President Arif Alvi administered the oath to Dar.
Earlier on Tuesday, Ishaq Dar took the oath as a senator following his return to Pakistan from London after five years self-imposed exile.
Dar was elected to the Senate from Punjab in 2018 in his absence as he remained out of the country since October 2017 until an accountability court suspended his arrest warrant last week.
He was chosen to lead finance ministry during a London meeting of PML-N supremo Nawaz Sharif and Prime Minister Shehbaz Sharif.
This will be the fourth time Dar is heading the ministry.
Miftah Ismail on Tuesday officially stepped down as the finance minister of the country by handing over his resignation letter to PM Shehbaz.
BRIEF BIOGRAPHY: Born in 1950 and grew up in Lahore, Dar was educated at the Hailey College of Commerce, Government College University, and later attended the Institute of Chartered Accountants in England and Wales. Prior to entering politics, he worked as a professional chartered accountant in various private and public sector organizations. His father was in cycle business.
Dar started his political career in early 1980s and since then he has been elected to the National Assembly twice from Lahore and to the Senate thrice. He held his first public office as the chairman of Pakistan Board of Investment for a year during the first term of Nawaz Sharif. After the PML-N victory in the 1997 general elections, he held the cabinet portfolios of minister for commerce, minister for industries and investment, and minister for finance, until the 1999 military coup. He remained in jail for two years over corruption charges.
In 2003, he made his debut in the Senate where he would later become Leader of the Opposition from 2012 to 2013. After the formation of a coalition government following the 2008 general elections, he briefly re-appointed as the finance minister for the second time under Prime Minister Yousaf Raza Gillani. In 2013, during the third term of Nawaz Sharif as prime minister, Dar was re-appointed as the minister for finance for the third time where he served until the dissolution of the cabinet following the removal from office of Nawaz Sharif in July 2017. In August 2017, he was inducted into the cabinet of Prime Minister Shahid Khaqan Abbasi and was re-appointed as minister for finance for the fourth time – a post he retained until November 2017 when he voluntarily stepped down amid a corruption case against him.
In March 2018, he was re-elected to the Senate.