ISLAMABAD: Dr Ishrat Hussain, the former governor of State Bank of Pakistan, has confirmed that he is stepping down as adviser to the prime minister, saying he had accepted the portfolio for a term of three years only.

“I wish to confirm that I have submitted my resignation as adviser to the prime minister and requested him to relieve me of my responsibilities with effect from September 1, 2021,” a message he disseminated to journalists said.

He stated that during these three years he planned and executed the reforms to ease the burden on the exchequer by reducing the number of organisational entities from 441 to 307, restructuring top 10 loss-making state owned enterprises such as PIA, Railways, Pakistan Steel Mills and key institutions of governance such as FBR and SECP.

He said he had joined the government with the understanding that he would serve for three years and would seek retirement once he attain the age of 80. “Having reached that age and completed three years, I have requested the prime minister to relieve me of my official responsibilities with effect from September 1, 2021,” he stated.

Published in Dawn, July 31st, 2021