Miftah Ismail ( ur, مفتاح اسماعیل; born 23 July 1965) is a Pakistani

political economist Political economy is the study of how economic systems (e.g. markets and national economies) and political systems (e.g. law, institutions, government) are linked. Widely studied phenomena within the discipline are systems such as labour ...

who served as the Federal Minister of Finance from April 2022 to September 2022. He had previously served in the same office, from April 2018 to May 2018 in Khaqan Abbasi's cabinet. Prior to that, he served as the Advisor on Finance, Revenue and Economic Affairs, chairman of the

Pakistan Board of Investment Board of Investment (BOI) ( ur, ) is the premier investment promotion agency of Pakistan working under the administrative control of the Prime Minister’s Office and is mandated to promote and facilitate both local & foreign investment. The B ...

and an economist with the

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster gl ...

Early life and career

He was born on 23 July 1965 in

Karachi Karachi (; ur, ; ; ) is the most populous city in Pakistan and 12th most populous city in the world, with a population of over 20 million. It is situated at the southern tip of the country along the Arabian Sea coast. It is the former ...

Sindh Sindh (; ; ur, , ; historically romanized as Sind) is one of the four provinces of Pakistan. Located in the southeastern region of the country, Sindh is the third-largest province of Pakistan by land area and the second-largest province ...

. Ismail received his undergraduate degree in business from

Duquesne University Duquesne University of the Holy Spirit ( or ; Duquesne University or Duquesne) is a private Catholic research university in Pittsburgh, Pennsylvania. Founded by members of the Congregation of the Holy Spirit, Duquesne first opened as the Pitts ...

in 1985, followed by a Ph.D in public finance and political economy from the

Wharton School The Wharton School of the University of Pennsylvania ( ; also known as Wharton Business School, the Wharton School, Penn Wharton, and Wharton) is the business school of the University of Pennsylvania, a private Ivy League research university in ...

University of Pennsylvania The University of Pennsylvania (also known as Penn or UPenn) is a private research university in Philadelphia. It is the fourth-oldest institution of higher education in the United States and is ranked among the highest-regarded universit ...

in 1990. Ismail worked with the

as an economist based in

Washington, D.C. ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...

in the early 1990s. In 1993, he returned to Pakistan to work for his family business,

Ismail Industries Limited Ismail Industries Limited () is a Pakistani confectionery and snack food manufacturer which owns AstroPack, CandyLand, Bisconni and SnackCity brands. History The company was founded in 1988. In 2015, the company's director and CEO was Maqsood ...

, a confectionary and snack food manufacturer.

Political career

Ismail joined the Pakistan Muslim League (N) in 2011 and served as the head and vice-chairman of

Punjab Board of Investment and Trade Punjab Board of Investment & Trade (PBIT) is the trade and investment promotion agency in Punjab, Pakistan, working autonomously under the Industries, commerce, and investment department. It is a member of the Steering Committee and a Director ...

from 2012 to 2013. During the 2013 Pakistani general election, Ismail served as a member of the election strategy team and the manifesto committee of Pakistan Muslim League (N). In October 2013, Ismail became a member of the ''Board of Directors'' of

Pakistan International Airlines Pakistan International Airlines ( ur, ; abbreviated PIA, ur, ) is an international airline that serves as the national flag carrier of Pakistan under the administrative control of the Secretary to the Government of Pakistan for Aviation. It ...

. In November 2013, he joined the ''Board of Directors'' of Sui Southern Gas Company. Both of these positions he retained until 4 January 2014, when he was appointed as the head of Federal Board of Investment and was added as a junior member of then Prime Minister

Sharif Sharīf ( ar, شريف, 'noble', 'highborn'), also spelled shareef or sherif, feminine sharīfa (), plural ashrāf (), shurafāʾ (), or (in the Maghreb) shurfāʾ, is a title used to designate a person descended, or claiming to be descended, f ...

's cabinet. Under his leadership the Board of Investment underwent massive restructuring including winding up of its regional offices. During his tenure at the Board of Investment, the government of Pakistan formulated a new automobile sector policy that has attracted a lot of new investment in the automobile sector. Ismail has served as adjunct faculty at the Institute of Business Administration and also as chairman of board at

Karachi American School The Karachi American School (KAS) ( ur, ), formerly known as Karachi American Society School, is a preschool to Grade 13 day school located in Karachi, Sindh, Pakistan. History The school was founded in 1952 as Karachi American Society School w ...

. After being appointed as one of the key finance advisers to the Prime Minister

Shahid Khaqan Abbasi Shahid Khaqan Abbasi ( ur, ; born 27 December 1958) is a Pakistani politician and businessman who served as the 21st prime minister of Pakistan from August 2017 to May 2018. Abbasi is the senior vice president of the Pakiatan Muslim Leagu ...

in December 2017, he stated that one of his top priorities is to help broaden the extremely narrow tax base in Pakistan which would strengthen the overall economy. He said that he would help design an economic policy that gives opportunity to the wealthy Pakistanis abroad to bring back their wealth. In other words, the government was ready to initiate an 'offshore tax amnesty scheme' soon.Miftah Ismail appointed as Advisor to Prime Minister on Finance, Revenue, Economic Affairs
Business Recorder (business newspaper), Published 26 December 2017, Retrieved 28 December 2017 On 27 April 2018, Ismail took oath as Federal Minister for Finance, Revenue and Economic Affairs in

's cabinet, where he served until 31 May 2018. He took oath as Finance minister again on 19 April 2022 and resigned on 27 September 2022 to pave way for

Ishaq Dar Muhammad Ishaq Dar ( ur, ; born ) is Pakistani accountant and member of the Senate serving as the 42nd Finance Minister of Pakistan since September 28, 2022. Dar was declared a Proclaimed Offender in 2017 and 2022, respectively. After his ...

. Other activities *

Asian Infrastructure Investment Bank The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank that aims to improve economic and social outcomes in Asia. The bank currently has 105 members, including 14 prospective members from around the world. The br ...

(AIIB), Ex-Officio Member of the Board of Governors (since 2017) *

World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...

, Ex-Officio Member of the Board of Governors (since 2017).Board of Governors

References

{{DEFAULTSORT:Ismail, Miftah Living people Duquesne University alumni Wharton School of the University of Pennsylvania alumni Nawaz Sharif administration Pakistani economists Pakistani business executives Pakistani prisoners and detainees Pakistan Muslim League (N) politicians Finance Ministers of Pakistan Pakistani people of Gujarati descent 1965 births