ISLAMABAD, (DNA) – Following Asad Umar’s removal as Finance Minister, speculations regarding who will occupy the pivotal cabinet position are rife with various names coming to the forefront.

The names that have emerged  regarding who might possibly be appointed as the next Finance Minister include Omar Ayub, Ishrat Hussain, Hafeez Pasha and Salman Shah.

Moroever, former Finance Minister Shaukat Tarin was also on the list. However, he has turned the offer down.

As per sources, former Governor of State Bank of Pakistan Ishrat Hussain, who presently serves as advisor to Prime Minister Imran Khan for institutional reforms & austerity, is a strong contender for the position.

Ishrat Hussain is a renowned economist and enjoys a distinguished reputation within the banking circles.

Earlier on Thursday, Finance Minister Asad Umar announced to quit the Federal Cabinet instead of taking the energy ministry as desired by Prime Minister Imran Khan.

In a social media message, the PTI’s finance guru stated that the prime minister wants him to take charge as energy minister.

However, Umar added that he does not wish to take charge of any other ministry, and would rather not be a part of PM’s cabinet anymore.

“As part of a cabinet reshuffle PM desired that I take the energy minister portfolio instead of finance. However, I have obtained his consent to not take any cabinet position. I strongly believe @ImranKhanPTI is the best hope for Pakistan and inshallah will make a naya pakistan,” .