ISLAMABAD, Jan 8: Caretaker Prime Minister Mohammedmian Soomro on Tuesday removed finance secretary Ahmad Waqar and replaced him with Dr Waqar Masood, currently working as special secretary at the PM secretariat.

Mr Ahmad Waqar has not been given a new assignment.

Sources said the prime minister was not satisfied with the feedback he had received about the economic understanding of the outgoing finance secretary and the running of the finance ministry in the background of recent build-up of inter-corporate circular debt.

Mr Waqar, who earlier worked as petroleum secretary for almost three years, was elevated to the post of finance secretary a few months ago, replacing Tanvir Ali Agha, who was appointed as Auditor General of Pakistan.

Mr Soomro, who himself is a banker, was not happy with the explanations on economic issues the former finance secretary gave during a meeting.