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'''Muhammad Ishaq Dar''' ({{lang-ur|{{Nastaliq|محمد اسحاق ڈار}}}}; born 23 May 1950) is a senior Pakistani politician and;<ref name="Hussain">{{Cite web |last=Hussain |first=Abid |title=Ishaq Dar takes oath as Pakistan's new finance minister |url=https://www.aljazeera.com/news/2022/9/28/ishaq-dar-takes-oath-as-pakistans-new-finance-minister |access-date=2023-01-16 |publisher=Al Jazeera |language=en}}</ref> [[chartered accountant]].;<ref>{{Cite web |title=Mr. Muhammad Ishaq Dar – ICAP SAFA Conference 2016 |url=https://www.icap.org.pk/safaconference/profiles/muhammad_ishaq_dar.php |access-date=2023-01-16 |website=icap.org.pk}}</ref> Hea isveteran businessman & investor; a philanthropist mainly focused on child welfare & protection;<ref>{{Cite web |date=2020-02-10 |title=Pakistan court bars turning former minister's house into homeless shelter |url=https://arab.news/5mc8s |access-date=2023-02-11 |website=Arab News PK |language=en}}</ref><ref>{{Cite web |title=Nothing wrong in Dar's charities, NAB tells court |url=https://www.thenews.com.pk/print/295177-nothing-wrong-in-dar-s-charities-nab-tells-court |access-date=2023-02-11 |website=thenews.com.pk |language=en}}</ref> former member of the [[National Assembly of Pakistan]] and an incumbent [[Senate of Pakistan|member of the Senate of Pakistan]]<ref>{{Cite web |date=2022-09-27 |title=Dar sworn in as senator amid kerfuffle |url=https://tribune.com.pk/story/2378854/dar-sworn-in-as-senator-amid-kerfuffle |access-date=2023-01-16 |website=The Express Tribune |language=en}}</ref> andserving wasas appointedthe 42nd [[Finance Minister of Pakistan]] onsince 28 September 2022.<ref name="Hussain"/>
He is a former Federal Minister for Industries & Investment and Federal [[Ministry of Commerce and Textile Industry|Minister for Commerce]]; and, is the fourth time federal [[Finance Minister of Pakistan|Minister for Finance]] of [[Pakistan]] – the only politician in the history of Pakistan to have served for four terms on the top post.<ref>{{Cite web |date=2022-09-28 |title=Ishaq Dar sworn in as new finance minister |url=https://tribune.com.pk/story/2379005/ishaq-dar-sworn-in-as-new-finance-minister |access-date=2023-01-16 |website=The Express Tribune |language=en}}</ref><ref>{{Cite web |title=Ishaq Dar to become Pakistan's finance minister for fourth time |url=https://asia.nikkei.com/Politics/Ishaq-Dar-to-become-Pakistan-s-finance-minister-for-fourth-time |access-date=2023-02-11 |website=Nikkei Asia |language=en-GB}}</ref>
Dar was born in 1950 in Lahore. He attended the [[Hailey College of Commerce]], [[Government College University (Lahore)|Government College University]], and [[Institute of Chartered Accountants in England and Wales]]. He began his career as a chartered accountant in the public and private sector.<ref>{{Cite web |title=Senate of Pakistan |url=https://senate.gov.pk/en/profile.php?uid=765 |access-date=2023-02-15 |website=senate.gov.pk}}</ref>
Born in 1950 and grew up in [[Lahore]], Dar was educated at the [[Hailey College of Commerce]], [[Government College University (Lahore)|Government College University]], later attending 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.<ref>{{Cite web |title=Senate of Pakistan |url=https://senate.gov.pk/en/profile.php?uid=765 |access-date=2023-02-15 |website=senate.gov.pk}}</ref> He was highly regarded for his innovative, prudent & fastidious financial management, discipline and control in the corporate world resulting in cost-savings & improved bottom-lines. The same was noticed & admired by the royal families of Saudi Arabia, UAE, Qatar, Bahrain, etc.<ref>{{Cite news |last=Peshimam |first=Gibran Naiyyar |date=2022-12-13 |title=Pakistan expecting Saudi financial help – finance minister |language=en |agency=Reuters|url=https://www.reuters.com/markets/asia/pakistan-expecting-saudi-financial-help-finance-minister-2022-12-13/ |access-date=2023-04-01}}</ref><ref>{{Cite web |date=2022-10-16 |title=Multilateral donors assure Pakistan of support |url=https://tribune.com.pk/story/2381884/multilateral-donors-assure-pakistan-of-support |access-date=2023-04-01 |website=The Express Tribune |language=en}}</ref> He was soon advising the royal families on large-scale investments & business ventures across the globe to their advantage.
Dar entered politics in the 1980s. He was Chairman of [[Pakistan Board of Investment]] for a year during the [[first Sharif ministry]]. He has served as federal [[Ministry of Commerce and Textile Industry|minister for commerce]]; industries and investment; and finance and revenue.
In Pakistan, Ishaq Dar started his political career in early 1980s; and, since then he has been elected to the [[National Assembly of Pakistan]] twice from [[Lahore]] and to the Senate of Pakistan for four times from [[Punjab, Pakistan|Punjab]]. He hold his first public office as the Chairman of [[Pakistan Board of Investment]] for a year during the [[First Sharif ministry|first government]] of Nawaz Sharif. After the PML-N victory in the [[Pakistani general election, 1997|1997 general election]], he held the cabinet portfolios of [[Ministry of Commerce and Textile Industry|Minister for Commerce]]; Minister for Industries & Investment and Minister for Finance & Revenue – making him one of the most prolific men of crises and decision-makers in the country; when it came to macroeconomic issues, balance of payment crises,<ref>{{Cite web |last=Desk |first=BR Web |date=2023-01-04 |title=Saudi Arabia expected to beef up its deposits in Pakistan: Ishaq Dar |url=https://www.brecorder.com/news/40218382 |access-date=2023-02-11 |website=Brecorder |language=en}}</ref> energy security, bilateral & multilateral debts,<ref>{{Cite web |last=Akbar |first=Agha |date=2018-04-16 |title=Why Ishaq Dar deserves bouquets and not brickbats |url=https://profit.pakistantoday.com.pk/2018/04/16/why-ishaq-dar-deserves-bouquets-and-not-brickbats/ |access-date=2023-02-15 |website=Profit by Pakistan Today |language=en-US}}</ref> food security,<ref>{{Cite web |last=Report |first=Recorder |date=2023-02-10 |title=Cabinet approves rules, regulations for corporate farming under CPEC |url=https://www.brecorder.com/news/40225436 |access-date=2023-02-11 |website=Brecorder |language=en}}</ref> diplomatic crises, parliamentary politics and international disputes settlements for Pakistan.
Dar was elected to the senate in 2003, and was Leader of the Opposition from 2012 to 2013.<ref>{{Cite web |last=Reporter |first=The Newspaper's Staff |date=2012-03-15 |title=Ishaq Dar new leader of opposition in Senate |url=https://www.dawn.com/2012/03/15/ishaq-dar-new-leader-of-opposition-in-senate/ |access-date=2023-02-21 |work=Dawn|location=Pakistan |language=en}}</ref> After the formation of a coalition government following the [[Pakistani general election, 2008|2008 general election]], he was briefly re-appointed as the Finance Minister for the second time under Prime Minister [[Yousaf Raza Gillani]]. During the [[third Sharif ministry]], Dar was re-appointed as finance minister; following Sharif's removal from office in July 2017, Sharif's successor [[Shahid Khaqan Abbasi]] appointed him finance minister again.▼
▲DarIn was2003, electedhe tomade thehis senatedebut in 2003,the andSenate waswhere he would later become Leader of the Opposition from 2012 to 2013.<ref>{{Cite web |last=Reporter |first=The Newspaper's Staff |date=2012-03-15 |title=Ishaq Dar new leader of opposition in Senate |url=https://www.dawn.com/2012/03/15/ishaq-dar-new-leader-of-opposition-in-senate/ |access-date=2023-02-21 |work=Dawn|location=Pakistan |language=en}}</ref> After the formation of a coalition government following the [[Pakistani general election, 2008|2008 general election]], he was briefly re-appointed as the Finance Minister for the second time under Prime Minister [[Yousaf Raza Gillani]]. DuringIn 2013, during the [[third Sharif ministry|third government]] of Nawaz Sharif, Dar was re-appointed as financethe Minister for Finance for the third time where he served until the dissolution of the minister;cabinet following Sharif'sthe removal from office of Prime Minister Nawaz Sharif in July 2017. In August 2017, Sharif'she successorwas inducted into the cabinet of Prime Minister [[Shahid Khaqan Abbasi]] and was re-appointed himas financeMinister ministerfor againFinance for the fourth time.
In March 2018, he was re-elected to the [[Senate of Pakistan]] as the returning senator from Punjab on a technocrat seat and the Election Commission of Pakistan (ECP) has also reversed the suspension of his victory notification and restored his victory notification on 9 January 2023.<ref>{{Cite web |last=Reporter |first=The Newspaper's Staff |date=2022-01-11 |title=ECP restores Ishaq Dar's victory notification as Senator |url=https://www.dawn.com/news/1668757 |access-date=2023-01-23 |work=Dawn|location=Pakistan |language=en}}</ref>
==Early life and education==
Muhammad Ishaq Dar was born in 1950.<ref name="dawn/25april2013" /> He hasearned a bachelor's degree in commerce from the Hailey College of Commerce of the [[University of the Punjab]] in Lahore,;<ref name="bloomberg1" /> which he attended from 1966 to 1969. He then attended Government College University in Lahore.<ref name="ary/8oct2016">{{cite news|title=Ishaq Dar declared 'Finance Minister of the year 2016 for South Asia'|url=http://www.arynews.tv/en/imf-ishaq-dar-declared-finance-minister-year-2016-south-asia/ |access-date=20 October 2016 |publisher=[[ARY News]] |date=8 October 2016 |ref=ary |language=en-us |url-status=live |archive-url=https://web.archive.org/web/20161029085449/http://www.arynews.tv/en/imf-ishaq-dar-declared-finance-minister-year-2016-south-asia/ |archive-date=29 October 2016 }}</ref> Dar was awarded two merit gold medals and a roll of honor for first position in B.{{nbsp}}Com. (Hons) at the University of Punjab.<ref name="ary/8oct2016" /> Interestingly, [[Nawaz Sharif]] had been his batch mate at [[Government College University Lahore]] from 1964 to 1966.<ref name="dawn/2feb2017">{{cite news |last1=Farooq |first1=Asad |date=2 February 2017 |title=What did Ishaq Dar 'confess' to during the Hudaibiya Paper Mills reference in 2000? |work=DAWN |url=https://www.dawn.com/news/1312292 |url-status=live |access-date=28 November 2017 |archive-url=https://web.archive.org/web/20171127001425/https://www.dawn.com/news/1312292 |archive-date=27 November 2017}}</ref>
Dar became an Associate Member of the Institute of Chartered Accountants in [[England]] and [[Wales]] in 1974,<ref>{{Cite web |title=Islamic Finance: Meeting Global Aspirations -- Conference -- November 11, 2015, Kuwait City |url=https://www.imf.org/external/np/seminars/eng/2015/islamicfinance/index.htm |access-date=2023-02-11 |website=imf.org}}</ref> when he qualifiedachieved ashis acertification in chartered accountantaccountancy. He was one of the youngest Pakistanis at the time to have passed the esteemed professional qualification.<ref name="tribune/14may2013">{{cite news|title=Right man for the job?: Senator Ishaq Dar tipped to be next finance ministe |url=http://tribune.com.pk/story/548765/r|last1=Shahbaz Rana |access-date=7 October 2016 |work=The Express Tribune |date=14 May 2013 |ref=tribune |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029090021/http://tribune.com.pk/story/548765/right-man-for-the-job-senator-ishaq-dar-tipped-to-be-next-finance-minister/ |archive-date=29 October 2016 }}</ref> In 1975, he became associate member of the [[Institute of Chartered Accountants of Pakistan]] as well.<ref>{{Cite web |title=Mr. Muhammad Ishaq Dar – ICAP SAFA Conference 2016 |url=https://www.icap.org.pk/safaconference/profiles/muhammad_ishaq_dar.php |access-date=2023-02-11 |website=icap.org.pk}}</ref> He becameobtained afellowship fellow ofin the Institute of Chartered Accountants in England and Wales in 1980 and ofin the Institute of Chartered Accountants of Pakistan in 1984. Currently, he is a fellow member of the [[Pakistan Institute of Public Finance Accountants]] and Institute of Chartered Accountants in England and Wales as well.<ref name="ary/8oct2016" />
==Early career==
Professionally, Dar is a chartered and& management accountant and economist<ref name="nation/30may2013" /><ref name="Tribune/8june2013">{{cite news|title=Federal cabinet unveiled: Enter the ministers |url=http://tribune.com.pk/story/560553/f|last1=Irfan Ghauri |access-date=27 October 2016 |work=The Express Tribune |date=8 June 2013 |ref=Tribune/profile |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029085327/http://tribune.com.pk/story/560553/federal-cabinet-unveiled-enter-the-ministers/ |archive-date=29 October 2016 }}</ref><ref name="thenews/17march2008">{{cite news|title=New finance minister will have tough job |url=https://www.thenews.com.pk/archive/print/100862|access-date=4 January 2017 |work=The News |date=17 March 2008 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20170104163851/https://www.thenews.com.pk/archive/print/100862-PAT-demands-regulatory-body-for-mosques-seminaries |archive-date= 4 January 2017 }}</ref> DarAfter having worked wasas director of finance in a [[London]]-based textile corporation from 1974 to 1976., HeDar moved to [[Libya]] in 1976 and worked for the Government of Libya as senior auditor in the Office of the Auditor General's Department in [[Tripoli, Libya|Tripoli]].<ref name="ary/8oct2016" /><ref name="dawn/7june2013">{{cite news|last1=Ghumman |first1=Khawar |title=Experience and loyalty count in the PML-N kitchen cabinet |url=http://www.dawn.com/news/1016645 |access-date=27 October 2016 |work=[[Dawn (newspaper)|Dawn]]|location=Pakistan|date=7 June 2013 |ref=dawn/7june2013 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029085545/http://www.dawn.com/news/1016645 |archive-date=29 October 2016 }}</ref>
<ref>{{cite web|title=Mohammad Ishaq Dar: Executive Profile & Biography |url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=271878591&privcapId=874021 |publisher=[[Bloomberg L.P.]]|access-date=3 January 2017 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20170103165641/http://www.bloomberg.com/research/stocks/private/person.asp?personId=271878591&privcapId=874021 |archive-date= 3 January 2017 }}</ref><ref name="bloomberg1" /> On returning to Pakistan in 1977, he became partner in a chartered accountancy firm and in 1980 he became financial adviser to Nazir & Company – a multinational construction company.<ref name="tribune/14may2013" />
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===Initial political career===
Dar began his political career in the late 1980s with the [[Pakistan Muslim League (N)]] as a member of its central executive committee (CEC).;<ref name="dawn/25april2013">{{cite news|title=Mohammad Ishaq Dar profile |url=http://www.dawn.com/news/1024455|last1=Imran Kazmi |access-date=7 October 2016 |work=DAWN |date=25 April 2013 |ref=DAWN |url-status=bot: unknown |archive-url=https://web.archive.org/web/20161029085839/http://www.dawn.com/news/1024455/mohammad-ishaq-dar |archive-date=29 October 2016 }}</ref> Inand, asince confessionthen tohe thehas remained one of closest aides of [[NationalNawaz AccountabilitySharif]] Bureau& a key federal cabinet member of [[Nawaz Sharif]], Darin saidall thatof hehis becamethree closelygovernments. associatedLater withon, in the Shariffirst familygovernment inof 1990,[[Shehbaz andSharif]]; admittedthe to23rd "moneyPrime launderingMinister of $14Pakistan.68<ref>{{Cite millionnews |last=Shahzad |first=Asif |date=2022-09-28 |title=New Pakistan finance minister vows to tame inflation and openingcut twointerest bankrates accounts|language=en under|agency=Reuters|url=https://www.reuters.com/world/asia-pacific/ishaq-dar-takes-oath-pakistans-new-finance-minister-2022-09-28/ the|access-date=2023-02-21}}</ref> namesAfter ofreceiving Sikandarrecognition Masoodat Qazithe andnational Talatlevel Masoodin Qazi1990 for his suggestions on provincial & federal government budgets, he became the top advisor to [[Nawaz Sharif's]] brother"on monetary, fiscal, taxation, industrial, trade and national debt management.<ref name="dawn/2feb2017" />
Ishaq Dar also facilitated Sharif Family to obtain a PKR 100 million [[line of credit]], under the [[Islamic Finance|Islamic finance]] principles of [[Non-bank financial institution|Modarba]];<ref>{{Cite news |date=2013-05-13 |title=Pakistan's Sharif picks Dar as finance minister to revive economy |language=en |agency=Reuters|url=https://www.reuters.com/article/us-pakistan-election-financial-idUSBRE94C09V20130513 |access-date=2023-02-21}}</ref> which is a special kind of partnership where one partner gives money to another for investing in a commercial enterprise.
In 1992, theDar held his first public office under Prime Minister, Nawaz Sharif, appointedas himthe Chairman of [[Pakistan Board of Investment]] (BOI) with a status of Minister of State till 1993.<ref>{{cite news|last1=Fazal Sher|title=Dar castigates IK to voice deep govt frustration|url=http://epaper.brecorder.com/2017/07/04/1-page/886416-news.html|access-date=28 November 2017|work=Business Recorder|url-status=bot: unknown|archive-url=https://web.archive.org/web/20171128122400/http://epaper.brecorder.com/2017/07/04/1-page/886416-news.html|archive-date=28 November 2017}}</ref><ref name="pakistantoday/21sept2017">{{cite news |date=21 September 2017 |title=Ishaq Dar's fall from grace |work=Pakistan Today |url=https://www.pakistantoday.com.pk/2017/09/21/ishaq-dars-fall-from-grace/ |url-status=live |access-date=24 November 2017 |archive-url=https://web.archive.org/web/20171124091254/https://www.pakistantoday.com.pk/2017/09/21/ishaq-dars-fall-from-grace/ |archive-date=24 November 2017}}</ref><ref name="dawn/25april2013" /> He served in a [[pro bono]] role. He immediately resigned after the government was dismissed by the then [[President of Pakistan]], [[Ghulam Ishaq Khan]]<ref>{{cite news|title=Chronology of prime ministers|url=https://www.dawn.com/news/395173|access-date=14 August 2017|work=DAWN|date=27 June 2004|language=en|url-status=live|archive-url=https://web.archive.org/web/20170814055716/https://www.dawn.com/news/395173|archive-date=14 August 2017}}</ref> under the notorious clause 58 2(b).<ref>{{Cite web |title=The 18th Amendment: Historical Developments and Debates in Pakistan|url=https://www.isas.nus.edu.sg/papers/the-18th-amendment-historical-developments-and-debates-in-pakistan/ |access-date=2023-02-21 |website=isas.nus.edu.sg}}</ref> It is pertinent to note that the clause 58-B has been removed for being undemocratic under [[Eighteenth Amendment to the Constitution of Pakistan]]. After leaving BOI 1993,<ref>{{cite news|title=Dar accuses Imran Khan of tax theft, lying in post-JIT hearing presser|url=https://www.dawn.com/news/1342972|access-date=28 November 2017|work=DAWN|date=3 July 2017|url-status=live|archive-url=https://web.archive.org/web/20170921154141/https://www.dawn.com/news/1342972|archive-date=21 September 2017}}</ref> he won the elections for the President of [[Lahore Chamber of Commerce and Industry]] that same year.<ref>{{cite news|last1=Hassaan Ahmed|title=Another Budget: A labyrinth of words and commitments|url=https://www.pakistantoday.com.pk/2016/06/05/another-budget-a-labyrinth-of-words-and-commitments/|access-date=28 November 2017|work=Pakistan Today|date=5 June 2016|url-status=live|archive-url=https://web.archive.org/web/20171128135945/https://www.pakistantoday.com.pk/2016/06/05/another-budget-a-labyrinth-of-words-and-commitments/|archive-date=28 November 2017}}</ref><ref name="pakistantoday/21sept2017" />
Dar made his Parliament debut after running for a seat in the [[National Assembly of Pakistan]] in a by-election held after [[Pakistani general elections, 1993|1993 general election]] as a candidate of the PML-N for the Lahore NA-95 constituency after the seat was vacated by [[Nawaz Sharif]] who had won the seat in two different constituencies in 1993 general election.<ref name="thenews/11sept2017">{{cite news|last1=Faizan Bangash|title=Maliks yet to win on NA-120|url=https://www.thenews.com.pk/print/229115|access-date=28 November 2017|work=The News|date=11 September 2017|language=en|url-status=live|archive-url=https://web.archive.org/web/20180220045836/https://www.thenews.com.pk/print/229115|archive-date=20 February 2018}}</ref><ref>{{cite news|last1=M A Niazi|title=The postponing of a by-election|url=http://nation.com.pk/02-Oct-2009/the-postponing-of-a-byelection|access-date=28 November 2017|work=The Nation|date=2 October 2009|url-status=live|archive-url=https://web.archive.org/web/20171201035301/http://nation.com.pk/02-Oct-2009/the-postponing-of-a-byelection|archive-date=1 December 2017}}</ref> After receiving 39,483 votes (62%), he was elected to the National Assembly.<ref name="pakistantoday/21sept2017" /><ref name="thenews/10oct2015">{{cite news|last1=Sabir|first1=Shah|title=Popularity graphs of winners of Lahore NA polls since 1970|url=https://www.thenews.com.pk/print/67067|access-date=16 August 2017|work=The News|date=10 October 2015|language=en|url-status=live|archive-url=https://web.archive.org/web/20170816235453/https://www.thenews.com.pk/print/67067-popularity-graphs-of-winners-of-lahore-na-polls-since-1970|archive-date=16 August 2017}}</ref><ref name="dawn/25april2013" /> His tenure as Member of the National Assembly was terminated upon the dissolution of the National Assembly in 1996<ref name="brecorder/23july2017">{{cite news|last1=Huzaima Bukhari|first1=Dr Ikramul Haq|title=Myths busted|url=http://epaper.brecorder.com/2017/07/23/20-page/890850-news.html|access-date=28 November 2017|work=Business Recorder|date=23 July 2017|url-status=live|archive-url=https://web.archive.org/web/20171201044113/http://epaper.brecorder.com/2017/07/23/20-page/890850-news.html|archive-date=1 December 2017}}</ref><ref name="dawn/4june2006">{{cite news|title=Editorial|url=https://www.dawn.com/news/1069068|access-date=13 August 2017|work=DAWN|date=4 June 2006|language=en|url-status=live|archive-url=https://web.archive.org/web/20170813225337/https://www.dawn.com/news/1069068/dawn-editorial-june-04-2006|archive-date=13 August 2017}}</ref> following the dismissal of the [[Benazir Bhutto]] government by the then-President, [[Farooq Leghari]].<ref name="pakistantoday/21sept2017" /><ref name="dawn/27june2004">{{cite news|title=Chronology of prime ministers|url=https://www.dawn.com/news/395173|access-date=13 August 2017|work=DAWN|date=27 June 2004|language=en|url-status=live|archive-url=https://web.archive.org/web/20170814055716/https://www.dawn.com/news/395173|archive-date=14 August 2017}}</ref>
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