Notification of Tareen as PM advisor today

Tareen is currently serving as chief executive officer of Saudi-Pak Commercial Bank besides being its major shareholder. He is also former President of Habib Bank and Union Bank. He has also served as country head of City Bank in Thailand.

He is also a major shareholder in Bank of Nomera, Japan and Bank of Mascat.

His appointment is part of the much-awaited expansion in the federal cabinet, which has been delayed for a week or so. Officials in the ministry of finance believe that with taking over of Mr Tareen as advisor to the PM on finance, federal finance minister Naveed Qamer would be virtually sidelined as all vital decisions would be taken on his advice.