ISLAMABAD, Sept 1: Dr Waqar Masood has been appointed as the new finance secretary in place of Farrukh Qayyum who had been appointed by former finance minister Ishaq Dar to replace him (Mr Masood) a month before the announcement of the budget.

The former caretaker government had appointed Dr Masood as finance secretary in place of Mr Qayyum who is believed to be close to PML-N leader Ishaq Dar, but was listed as an OSD soon after the induction of the new government.

The decision to appoint Mr Waqar had been taken much earlier but it was not notified until the PML-N formally quit the PPP-led coalition government.

Mr Waqar has also served as the economic affair division’s secretary and special secretary to former prime minister Shaukat Aziz.