Ishaq Dar

Muhammad Ishaq Dar is a Pakistani politician and economist who serves as the 6th deputy prime minister and 38th foreign minister of Pakistan. He has been affiliated with the PML-N since his entry into politics during the 1980s. Since 2024, he holds these high-ranking positions while also serving as a senator.

Early life and education

Dar was born in Lahore, Punjab, on 13 May 1950. He belongs to a Punjabi family that possesses Kashmiri ancestry. Between 1966 and 1969, he attended the Hailey College of Commerce at the University of the Punjab. He later attended Government College University in Lahore.

His academic performance was exceptional during his undergraduate years. Dar earned a B.Com. degree and was placed on the roll of honour for securing first position in B. Com. (Hons). He also received two merit gold medals for his studies at the university.

Career

Dar began his professional journey as a chartered accountant. He qualified as an associate member of the Institute of Chartered Accountants in England and Wales in 1974. In 1975, he became an associate member of the Institute of Chartered Accountants of Pakistan. He achieved fellow status with the English institute in 1980 and with the Pakistani institute in 1984. Currently, he maintains fellow memberships with both the Pakistan Institute of Public Finance Accountants and the Institute of Chartered Accountants in England and Wales.

His early accounting roles included serving as the director of finance for a London-based textile corporation from 1974 to 1976. After being hired by Colonel Muammar Gaddafi, he moved to Libya in 1976. He worked as a senior auditor within the Office of the Auditor General's Department in Tripoli. Upon returning to Pakistan in 1977, he became a partner in a chartered accountancy firm. He also served as a financial adviser to Nazir & Company in 1980.

His political career commenced in the late 1980s as a member of the central executive committee of the PML-N. In 1992, Nawaz Sharif appointed him Chairman of the Pakistan Board of Investment with the status of Minister of State. Dar became the President of the Lahore Chamber of Commerce and Industry in 1993. He won his first National Assembly seat in a by-election following the 1993 general election, securing 39,483 votes. In 1997, he won the NA-97 constituency with 61,556 votes and served as Federal Minister for Industries and Investment from February to July 1997. He was appointed Federal Minister for Commerce in December 1997.

Following the 1998 nuclear tests by India and Pakistan, Dar was appointed Minister for Finance to negotiate an IMF bailout package. After the 1999 military coup, he spent nearly two years in jail on corruption charges. While detained, he reportedly made statements regarding money laundering involving the Sharif family—claims he later stated were made under duress. He eventually moved to the United Arab Emirates to work as a financial adviser for various clients.

Dar returned to Pakistan in 2003 and was elected to the Senate. He served as the Parliamentary Leader of the PML-N in the Senate during his terms between 2003 and 2012. In March 2008, he joined the cabinet of Yousaf Raza Gillani as a federal minister. During this period, he was re-appointed as the Minister for Finance with additional portfolios for revenue, economic affairs, and statistics. He is credited with proposing the Benazir Income Support Programme to provide aid to low-income families. In 2012, he was elected as the Leader of the Opposition for the Senate of Pakistan.

Awards and recognition

In 2011, Dar was decorated with the Nishan-e-Imtiaz, which is the highest civil award for Pakistani nationals. This honor was granted for his parliamentary service. However, he refused to accept the award from President Asif Ali Zardari.