Veteran Banker Takes Helm of Pakistan's Finance Ministry to Steer Crisis-ridden Economy

Muhammad Aurangzeb is a veteran banker appointed as Pakistan's new Finance Minister to fix the country's economic crisis. He previously headed Habib Bank and worked at Citibank and JP Morgan.

Pakistan faces severe economic challenges - high debts, low foreign reserves, currency devaluation, skyrocketing inflation. An IMF bailout deal is urgently needed.

Analysts say Aurangzeb's banking experience and reform-focused approach can help negotiate an IMF deal and introduce economic reforms.

However, some economists argue a macroeconomist would have been better suited than a banker to drive substantive long-term reforms.

Aurangzeb's success will depend on his vision and ability to balance reforms with political pressures. His apolitical background could be an advantage.