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Ishaq Dar (centre) with Members of the Federal Cabinet after taking oath as Senator. Image Credit: Supplied

ISLAMABAD: Pakistan Muslim League-Nawaz (PML-N) leader Ishaq Dar a day after arriving in Pakistan was sworn in by Senate Chairman Sadiq Sanjarani on Tuesday amidst protest by the Pakistan Tehreek-e-Insaf (PTI) members of the Upper House.

His oath-taking as Senator is being seen as a prelude to the ‘final’ swearing-in ceremony as Finance Minister of Pakistan by President Dr Arif Alvi at the Aiwan-e-Sadr.

President Arif Alvi will administer the oath to Dar at Aiwan-e-Sadar on and according to the President House sources, all arrangements for the oath-taking ceremony will be completed by Wednesday morning.

During the last two days’ trading since the economic wizard of the PML-N arrived in Pakistan Monday night, the PKR has jumped by more than Rs5 against the US dollar in the interbank market. On Tuesday, the US dollar fell by Rs3.11 and closed at Rs233.91 while on Monday it had fallen by Rs2.14.

Only two days into the trade week and the US dollar shed by Rs5.25 and according to the financial market analysts it will dip further once Dar assumes charge as Finance Minister.

The night prior to taking oath as Senator, Dar while talking to Pakistan’s state-TV had said his priority would be to take the country out of the current economic swamp it is stuck in. “I am confident to bring stability with the help of the government’s economic team the way we did in 1998-1999 and 2013-2014,” he told a Pakistan Television reporter.

He shared that PML-N President Nawaz Sharif and PM Shehbaz Sharif have handed over the responsibility of the finance ministry to him.

According to the PML-N, Dar has returned to shape and strengthen the government’s policies aimed at securing economic stability and to face mounting challenges of inflation and currency devaluation.

Ministers welcome Dar

Pakistan’s Railway & Aviation Minister Khawaja Saad Rafique in a tweet termed Dar’s return to Pakistan a positive sign. Quoting a poetic line in his tweet he posted a picture with Senator Ishaq Dar and other cabinet colleagues.

Before the oath ceremony, Dar called on Chairman of the Senate Sadiq Sanjrani in his chamber and discussed political matters. He was accompanied by Law Minister Azam Nazeer Tarar and Interior Minister Rana Sanaullah.

Meanwhile, Dar’s predecessor Miftah Ismail formally tendered his resignation to the Prime Minister on Tuesday.