Miftah Ismail (; born 23 July 1965) is a

Pakistani Pakistanis (, ) are the citizens and nationals of the Islamic Republic of Pakistan. Pakistan is the fifth-most populous country, with a population of over 241.5 million, having the second-largest Muslim population as of 2023. As much as ...

political economist Politics () is the set of activities that are associated with making decisions in groups, or other forms of power relations among individuals, such as the distribution of status or resources. The branch of social science that studies poli ...

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 to the Prime Minister on Finance, Revenue and Economic Affairs, chairman of the

Pakistan Board of Investment Board of Investment (BOI) () 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 Board o ...

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 funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of las ...

. He is the current secretary of the

Awaam Pakistan The Awaam Pakistan (, , , AP) is a political party in Pakistan that was established in 2024 by former Prime Minister Shahid Khaqan Abbasi and former Minister of Finance Miftah Ismail, both of whom had left the Pakistan Muslim League (N) (PML-N). ...

party, a political party he co-founded alongside former Pakistani prime minister

Shahid Khaqan Abbasi Shahid Khaqan Abbasi (born 27 December 1958) is a Pakistani politician and businessman who served as the 18th prime minister of Pakistan, Prime Minister of Pakistan from August 2017 to May 2018. He also currently leads Awaam Pakistan (AP) as ...

Early life and education

He was born on 23 July 1965 in

Karachi Karachi is the capital city of the Administrative units of Pakistan, province of Sindh, Pakistan. It is the List of cities in Pakistan by population, largest city in Pakistan and 12th List of largest cities, largest in the world, with a popul ...

Sindh Sindh ( ; ; , ; abbr. SD, historically romanized as Sind (caliphal province), Sind or Scinde) is a Administrative units of Pakistan, province of Pakistan. Located in the Geography of Pakistan, southeastern region of the country, Sindh is t ...

in a Gujarati family. Ismail received his undergraduate degree in business from

Duquesne University Duquesne University of the Holy Spirit ( ; also known as Duquesne University or Duquesne) is a Private university, private Catholic higher education, Catholic research university in Pittsburgh, Pennsylvania, United States. Founded by members of ...

in 1985, followed by a Ph.D. in

public finance Public finance refers to the monetary resources available to governments and also to the study of finance within government and role of the government in the economy. Within academic settings, public finance is a widely studied subject in man ...

and

political economy Political or comparative economy is a branch of political science and economics studying economic systems (e.g. Marketplace, markets and national economies) and their governance by political systems (e.g. law, institutions, and government). Wi ...

from the

Wharton School The Wharton School ( ) is the business school of the University of Pennsylvania, a private Ivy League research university in Philadelphia. Established in 1881 through a donation from Joseph Wharton, a co-founder of Bethlehem Steel, the Wharton ...

University of Pennsylvania The University of Pennsylvania (Penn or UPenn) is a Private university, private Ivy League research university in Philadelphia, Pennsylvania, United States. One of nine colonial colleges, it was chartered in 1755 through the efforts of f ...

in 1990.

Professional career

Ismail began his career as an economist with the International Monetary Fund in Washington, D.C., in the early 1990s. In 1993, he returned to Pakistan to manage his family's business, Ismail Industries Limited, a confectionary and snack food manufacturer, serving as CEO and Executive Director from 1993 to 2015. Between 2012 and 2022, he held leadership roles in public-sector firms: *Vice Chairman, Punjab Board of Investment & Trade (2012–2013) *Director,

Pakistan International Airlines Pakistan International Airlines, commonly known as PIA, is the flag carrier of Pakistan. With its primary hub at Jinnah International Airport in Karachi, the airline also operates from its secondary hubs at Allama Iqbal International Airport ...

(2013–2014) *Chairman,

Sui Southern Gas Company The Sui Southern Gas Company (SSGC), () formerly known as Sui Gas Transmission Company Limited, is a Pakistani state-owned natural gas supply company based in Karachi, Pakistan. Sui Southern Gas Company is Pakistan's leading integrated gas com ...

(2016–2022)

Academic career

Ismail has served as adjunct faculty at the Institute of Business Administration, Karachi and also as chairman of board at Karachi American School.

Political career

Pakistan Muslim League (N) (2011–2023)

Ismail joined the

Pakistan Muslim League (N) The Pakistan Muslim League (N) or (PML(N)) is a Centre-right politics, centre-right, Conservatism in Pakistan, conservative political party in Pakistan. It is currently the third-largest party in the Senate of Pakistan, Senate and the larges ...

in 2011. During the

2013 Pakistani general election General elections were held in Pakistan on Saturday 11 May 2013 to elect the members of the List of members of the 14th National Assembly of Pakistan, 14th National Assembly of Pakistan, National Assembly and the four Subdivisions of Pakistan, Pr ...

, Ismail served as a member of the election strategy team and the manifesto committee of Pakistan Muslim League (N). In January 2014, he was appointed as the head of Federal Board of Investment and was added as a junior member of then Prime Minister

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

's cabinet. Under his leadership the Board of Investment underwent massive restructuring including winding up of its regional offices. During his tenure, he oversaw significant restructuring and played a key role in formulating new auto sector investment policy. In December 2017, Miftah was appointed as a finance adviser to then-Prime Minister

.Miftah Ismail appointed as Advisor to Prime Minister on Finance, Revenue, Economic Affairs
Business Recorder, Published 26 December 2017, Retrieved 28 December 2017 In April 2018, Ismail took oath as Federal Minister for Finance, Revenue and Economic Affairs in

's cabinet, where he served until 31 May 2018. In September 2022, Ismail was reappointed to as finance minister but resigned in September of the same year, paving the way for the return of

Ishaq Dar Muhammad Ishaq Dar (born 13 May 1950) is a Pakistani accountant and politician who currently serves as the 6th deputy prime minister and 38th foreign minister of Pakistan since 2024. A close aide of the Sharif family, Dar is affiliated with ...

. In June 2023, he was removed by PML(N) as the general secretary of the party, allegedly due to his criticism of Dar's economic policies and dislike by then Chief Organizer of the PML(N),

Maryam Nawaz Maryam Nawaz Sharif (born 28 October 1973) is a Pakistani politician who has served as the 20th chief minister of Punjab since 26 February 2024. She is the first woman to hold the position of chief minister in Pakistan. Born to former Prime ...

. Later, in the same month, he resigned from all senior positions of the PML(N) and party committees.

Awaam Pakistan (2024–present)

In June 2024, Ismail along with former Prime Minister

announced the formation of a new political party named

(“People of Pakistan”), introducing it with the slogan “Badlenge Nizam” (“We will change the system”). Dr. Ismail was appointed the Deputy Convener alongside Abbasi, who served as Convenor of the Organizing Committee. The party was formally registered with the

Election Commission of Pakistan The Election Commission of Pakistan (ECP) is an independent, autonomous, permanent and constitutionally established federal body responsible for organizing and conducting elections to the national parliament, provincial legislatures, local g ...

in January 2025. In media interviews, Ismail stated that the party’s mission was rooted in

populist Populism is a contested concept used to refer to a variety of political stances that emphasize the idea of the " common people" and often position this group in opposition to a perceived elite. It is frequently associated with anti-establis ...

economic reform: advocating “equal economic opportunities,” reducing government size, and empowering the middle class.

Other activities

Asian Infrastructure Investment Bank The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank and international financial institution that aims to collectively improve economic and social outcomes in Asia. It is the world's second largest multi-lateral d ...

(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 Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development ...

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

Writings

Dr. Ismail is a regular economic commentator, writing in both English and Urdu.

References

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