Former finance minister Dr Miftah Ismail on Saturday tendered his resignation from Pakistan Muslim League-Nawaz (PML-N) and announced his exit from active politics owing to reorganisation of the party structure, Business Recorder has learned.

In a letter to PML-N General Secretary and Planning Minister Ahsan Iqbal, he wrote “given the upcoming reorganisation of the party structure, I think it’s time for me to make official what is already true and move on”.

“I therefore tender my resignation as General Secretary of PML-N Sindh and also resign from all party committees.”

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He thanked the party leadership for entrusting him with responsibilities not only in the party but also in the government.

“Party supremo Mian Nawaz Sharif and President Mian Shehbaz Sharif have been most kind and considerate with me over the years. I shall always be grateful to them for their support and trust.”

He added that senior PML-N leaders such as Ahsan Iqbal, Khawaja Asif, Ayaz Sadiq, Pervaiz Rasheed, Shahid Khaqan Abbasi and many others had been very kind to him over the years.

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“I cannot thank all of you enough for your leadership and friendship,” the letter stated. “Although I won’t be active in electoral politics anymore, I share with you a keen desire to see a socially just, economically stable and well-governed Pakistan.”

Ismail has been campaigning for a major overhaul in Pakistan for some time including the privatisation of loss-making state-owned entities, education sector revamp as well as population control.

He has made several appearances in different educational institutes across the country, calling for a revamp of the economy that has been under severe stress in recent years.

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Ismail became finance minister for the first time in 2018 and presented the budget for 2018-19.

During his second tenure as finance minister of Pakistan in 2022, Ismail oversaw the resumption of crucial International Monetary Fund (IMF) programme which has since remained stalled.