Tarin will also resign from his Senate seat.

In a statement, Tarin said that he had made the decision on the advice of friends and family. He added that his health had not been well for the past two years.

Tarin was elected to the Senate from Khyber Paktunkhwa on a PTI ticket in 2021. He went on to serve as the finance minister from October 2021 to April 2022, when Imran Khan’s government was removed through a no-confidenc vote.

A career banker, he worked for the Citi Bank for 22 years ultimately retiring as its country manager in Thailand.

He served as the minister of finance from 2008 to 2019, as part of PM Yousaf Raza Gilani’s cabinet. He ultimately resigned over allegations of conflict of interest.

An alleged audio involving him, Taimur Jhagra and Mohsin Leghari had been leaked in 2022, where they were apparently discussing Pakistan’s deal with the International Monetary Fund.