Prime Minister Shahid Khaqan Abbasi recommended the PML-N leader’s appointment, which was approved by President Mamnoon Hussian.
Miftah was administered the oath by the president at a ceremony attended by PML-N leaders, cabinet members and other top-level officials.
He will present the PML-N government’s last budget in the National Assembly today.
The new finance minister succeeds Ishaq Dar, who has been declared a proclaimed offender over failure to stand trial for corruption charges. He has been abroad in connection with treatment since October 2017.
The incumbent government is going to make a history by presenting its sixth consecutive Federal Budget for the year 2018-19, with an estimated outlay of around Rs 5.5 trillion.
It will be a hallmark of the incumbent PML-N government to have presented six consecutive budgets during the five years of its democratic tenure from 2013-2018.
The National Assembly has been summoned to meet on Friday, at 4:30 pm for presentation of the federal budget, official notification said. However, the time could be extended a bit in view of the government’s pre-budget meeting and completion of quorum of the House.
Hours before the Federal Budget 2018-19, Adviser to Prime Minister Miftah Ismail was appointed as the new federal minister for Finance, Revenue and Economic Affairs