Pak PM appoints new FM in major reshuffle

Pakistani Prime Minister Imran Khan made a sweeping cabinet reshuffle on Thursday night after only seven months in power and appointed Abdul Hafeez Shaikh as de facto finance minister to steer the country through worsening economic turmoil. Pakistan is on the brink of signing up for it 13th International Monetary Fund (IMF) bailout since the late 1980s in a bid to stave off a balance of payments crisis and ease ballooning current account and fiscal deficits. Khan's government inherited a wobbly economy but the former cricketer has come under intense criticism for failing to fulfil his promises that he would steady the ship and bring prosperity to Pakistan. Khan late on Thursday announced 10 ministerial appointments in a shakeup that included the departure of Finance Minister Asad Umar, who has been a close ally to Khan for many years.