Economic affairs division becomes new ministry as finance ministry bifurcated

ISLAMABAD: The Ministry of Finance, Revenue & Economic Affairs has been bifurcated into two ministries, namely the Ministry of Finance and Ministry of Economic Affairs Division, ARY News reported.

Prime Minister Imran Khan on Monday approved changes and declared economic affairs division as the status of a ministry.

According to a decision, the finance ministry will now deal with matters related to revenue and finance.

The move comes after PM Imran in a major cabinet reshuffle had named Khusro Bakhtiar as the Economic Affairs Minister.

Hammad Azhar was relieved of the portfolio of economic affairs and named Minister for Industries.

The reshuffle follows on the heels of the release of the inquiry reports on sugar and wheat crisis that pointed an accusing finger at PTI stalwart Jahangir Khan Tareen, a brother of Khusro Bakhtiyar and PML-Q leader Moonis Elahi over their alleged involvement in the scam.