Shaukat Tarin

{{Infobox officeholder

| honorific-prefix =

| name = Shaukat Tarin
{{nq|شوکت ترین}}

| honorific-suffix =

| image = Shaukat Tarin.png

| imagesize =

| smallimage =

| alt =

| caption = Tarin in October 2021

| order1 =

| office = Minister of Finance, Revenue & Economic Affairs

| primeminister = Imran Khan

| president = Arif Alvi

| term_start = 27 December 2021

| term_end = 10 April 2022

| predecessor = Hammad Azhar

| successor = Miftah Ismail

| term_start1 = 16 April 2021

| term_end1 = 17 October 2021

| primeminister1 = Imran Khan

| president1 = Arif Alvi

| predecessor1 = Hammad Azhar

| successor1 = Himself as Advisor

| term_start2 = 8 October 2008

| term_end2 = 22 February 2010

| primeminister2 = Yusuf Raza Gillani

| president2 = Asif Ali Zardari

| predecessor2 = Naveed Qamar

| successor2 = Naveed Qamar {{small|(and he was succeeded by Abdul Hafeez Shaikh)}}

| office3 = Member of Finance, Revenue & Economic Affairs Committee

| term_start3 = 18 April 2019

| primeminister3 = Imran Khan

| order4 = President of the

| office4 = Union Bank (Pakistan)

| term_start4 = 2000

| term_end4 = 2006 Karachi Stock Exchange

| order5 = Chairman of the

| office5 = Karachi Stock Exchange

| term_start5 = 2002

| term_end5 = 2008

| alongside5 = Sadeq Sayeed

| primeminister5 = Shaukat Aziz

| office6 = Advisor to Prime Minister on Finance and Revenue

| term_start6 = 17 October 2021

| term_end6 = 27 December 2021

| primeminister6 = Imran Khan

| birth_date = {{birth date and age|df=y|1 October 1953}}

| birth_place = Multan, Punjab, Pakistan

| death_date =

| death_place =

| birthname = Shaukat Fayyaz Ahmed Tarin

| nationality = Pakistani

| otherparty = {{flagicon image|Flag of the Pakistan Tehreek-e-Insaf.svg}} PTI (2007-2023)

| spouse = Razalia Tarin

| partner =

| relations = Jahangir Tareen (cousin){{Cite web|url=https://www.dawn.com/news/1615694|title=Ex-PPP minister Shaukat Tarin to head economic advisory board|first=Syed Irfan|last=Raza|date=1 April 2021|website=DAWN.COM}}

Azmat Tarin (brother)

Col. Dr. Jamshaid Tarin (father)

| children = 3

| residence = Karachi

| alma_mater = University of the Punjab (MBA), Forman Christian College University

| occupation =

| profession = Banker

| cabinet =

| office7 = Member of the Senate of Pakistan

| term_start7 = 20 December 2021

| primeminister7 = Shahid Khaqan Abbasi
Imran Khan
Shehbaz Sharif

| president7 = Arif Alvi

| term_end7 = 10 December 2023

}}

Shaukat Fayyaz Ahmed Tarin ({{langx|ur|{{nq|شوکت ترین}}}}; born 1 October 1953) is a former Pakistani Senator and banker who served as Finance Minister of Pakistan from 2008 to 2010 in the Gillani cabinet also and worked with the help of the Pakistan People’s Party's cabinet members.

On 27 December 2021, he was appointed the Finance Minister of Pakistan again, replacing the recently appointed Hammad Azhar after a cabinet reshuffle by Prime Minister of Islamic Republic of Pakistan Imran Khan.{{Cite web|date=2021-04-16|title=Shaukat Tareen appointed as new finance minister as PM reshuffles cabinet|url=https://dailytimes.com.pk/746347/shaukat-tareen-appointed-as-new-finance-minister-as-pm-reshuffles-cabinet/|access-date=2021-04-25|website=Daily Times|language=en-US}}{{Cite web|last=Wasim|first=Amir|date=2021-04-16|title=Hammad Azhar given energy ministry, Shaukat Tarin made finance minister in latest cabinet reshuffle|url=https://www.dawn.com/news/1618558|access-date=2021-04-25|website=DAWN.COM|language=en}} He is the Member of the Senate of Pakistan since March 2018.

On 7 October 2008, he was appointed an adviser to the government and was elevated to the post of finance minister after being elected as a senator from Sindh on 27 July 2009. Tarin resigned from the ministry on 23 February 2010 to "raise equity from the market for Silkbank," which while working at finance ministry was "a clear conflict of interest."Khaleeq Kiani . [https://www.dawn.com/news/959264/pm-accepts-shaukat-tarin-s-resignation "PM accepts Shaukat Tarin’s resignation"] Dawn, 24 February 2010

Before his ministerial role, Tarin served as the country manager of CitiBank N.A Pakistan and did tenures as head of Habib Bank, Union Bank, and twice as chairman of Karachi Stock Exchange. He currently sits on the board of Silkbank.

On 17 October 2021, he was appointed Advisor to Prime Minister on Finance and Revenue.{{cite news|url=https://www.dawn.com/news/1652742|title=Tarin appointed adviser to PM on finance, revenue after constitutional tenure as federal minister ends|date=18 October 2021|access-date=21 October 2021|work=Dawn (newspaper)}} He served as federal minister for finance and revenue till 17 October 2021 because he was unable to be elected as senator.

Early life and education

Tarin came from a Pashtun family that belongs to the Tareen tribe of Pashtuns born to an Pakistan Army Medical Corps doctor in Multan. He got his initial education from Army Cantonment schools all over Pakistan and later got his MBA from University of the Punjab.

He's a cousin of politician Jahangir Tareen.{{Cite web |date=16 April 2021 |title=Pakistan PM Imran Khan appoints Shaukat Tareen as new Finance Minister in cabinet reshuffle |url=https://www.thehindu.com/news/international/pakistan-pm-imran-khan-appoints-shaukat-tareen-as-new-finance-minister-in-cabinet-reshuffle/article34335614.ece |website=The Hindu |quote=He is a cousin of Jehangir Tareen, dubbed as sugar baron due to several sugar mills [...]}}

Banking career

He joined Citibank in 1975 and remained with it for 22 years rising to become its country manager in Thailand.Saad Hasan. [http://www.jang.com.pk/thenews/mar2010-weekly/nos-14-03-2010/dia.htm#4 "I expect 3.5 percent growth rate this year"] The News on Sunday, 14 March 2010

In 1997, then-PM Nawaz Sharif asked Tarin to turn around state-owned Habib Bank, for which he left the $1 million plus job in the United States. He, along with Zubyr Soomro at United Bank and Muhammad Mian Soomro at National Bank of Pakistan, were "successful in bringing the nationalised commercial banks (NCBs) back from virtual extinction."Ikram Sehgal. [http://www.defencejournal.com/2000/jan/elsie.htm "Elsie is not a girl"] Defence Journal, January 2000 edition

He left HBL in 2000 to join Union Bank as its president.[http://www.dawn.com/2008/10/08/top10.htm "Shaukat Tarin gets top finance post"] Dawn, 8 October 2008 As the president of the Union Bank, Tarin was associated with the acquisition by Standard Chartered Bank of a 95.37% interest in Union Bank in September 2006. The amount paid was $487 million, in cash.[http://investors.standardchartered.com/releasedetail.cfm?ReleaseID=210063 "Standard Chartered Acquisition of 95.37% Interest in Union Bank Ltd"] {{Webarchive|url=https://web.archive.org/web/20071206012632/http://investors.standardchartered.com/releasedetail.cfm?releaseid=210063 |date=6 December 2007 }} Standard Chartered, 6 September 2006[http://archives.dawn.com/2006/09/06/ebr3.htm "Standard Chartered acquires Union Bank"] The Dawn, 5 September 2006[http://www.securities.com/Public/company-profile/PK/Standard_Chartered_Bank__Pakistan__Limited_en_2438289.html "Standard Chartered Bank (Pakistan) Limited | EMIS "] securities.com

Shaukat Tarin has also been elected twice as chairman of Karachi Stock Exchange (KSE), the last one being in the year 2008.[http://www.dailytimes.com.pk/default.asp?page=2008\01\17\story_17-1-2008_pg5_4 "Shaukat Tarin elected KSE Chairman"] Daily Times, 17 January 2008

Shaukat Tarin was a major stakeholder of Saudi Pak Commercial Bank (SPCB) and formed a consortium, along with senior banker Sadeq Sayeed, International Finance Corporation (IFC), BankMuscat, Nomura Holdings and Sinthos Capital to acquire an 86.55% stake in SPCB from [http://www.saudipak.com/ Saudi Pak Industrial And Agricultural Investment Co. Ltd.] for $213 million in cash on 31 March 2008. Subsequently, Saudi Pak was rebranded as Silkbank Limited on 1 June 2009 with a strategic focus on SME & Consumer financing for increased profitability.[http://www.silkbank.com.pk/html/history.html "History of Silkbank"] {{webarchive|url=https://web.archive.org/web/20120117040439/http://www.silkbank.com.pk/html/history.html |date=17 January 2012 }} Silkbank Website, accessed 4 September 2009[http://www.thenews.com.pk/TodaysPrintDetail.aspx?ID=104123&Cat=3&dt=4/27/2008 "Consortium led by senior bankers Shaukat Tarin and Sadeq Sayeed completes acquisition of SPCB"] The News Website, accessed 11 January 2009 17:07 (GMT +08:00)[http://www.silkbank.com.pk/docs/finanacial_reports/Silkbank_HR_09.pdf Silk Bank | Annual Report 2009] {{webarchive|url=https://web.archive.org/web/20110703073243/http://silkbank.com.pk/docs/finanacial_reports/Silkbank_HR_09.pdf |date=3 July 2011 }}

Political career

Shaukat Tarin was appointed adviser to the finance ministry of Pakistan with a status of federal minister, on 7 October 2008. Prior to this appointment, Tarin was serving as the President of Saudi-Pak Commercial Bank (presently, Silk Bank). On 27 July 2009, he was elected senator unopposed from Sindh and subsequently, he was elevated to finance minister of Pakistan.{{cite news|url=https://nation.com.pk/28-Jul-2009/shaukat-tareen-elected-as-senator|title=Shaukat Tarin elected as Senator|work=The Nation|date=28 July 2009}} As such, he heads the Executive Committee of the National Economic Council (NEC) and the Economic Coordination Committee (ECC).

Tarin resigned from the ministry on 23 February 2010 to "raise equity from the market for Silkbank," which while working at finance ministry was "a clear conflict of interest."

He was appointed Federal Minister for finance and revenue affairs on 16 April 2021. On 20 December 2021, Tarin was elected as a senator from Khyber Pakhtunkhwa{{cite news |title=Finance adviser Shaukat Tarin elected senator on vacant seat from Khyber Pakhtunkhwa |url=https://www.dawn.com/news/1664859/finance-adviser-shaukat-tarin-elected-senator-on-vacant-seat-from-khyber-pakhtunkhwa |work=Dawn |date=20 December 2021}} and onn 27 December 2021, took oath as Federal Minister of Finance and Revenue.{{cite news |title=Shaukat Tarin takes oath as federal minister |url=https://www.thenews.com.pk/latest/920273-shaukat-tarin-to-swear-in-as-finance-minister-again-today |work=The News International (newspaper) |date=27 December 2021}}

Shaukat Tarin served as a member on the economic and finance committee from 18 April 2019 under then Prime Minister Imran Khan. Shaukat Tarin was also the convener of the committee to the Prime Minister.