Finance Minister and Pakistan Muslim League-Nawaz leader Miftah Ismail on Sunday has resigned as finance minister.

According to the sources Ismail tendered his resignation during Prime Minister Shehbaz Sharif’s meeting with the PML-N supremo Nawaz Sharif held in London.

The meeting was attended by Ishaq Dar, Maryam Aurangzeb, Miftah Ismail, Malik Muhammad Ahmad Khan and Ahad Cheema.

Miftah later confirmed the development in a tweet.

“In a meeting with Mian Nawaz Sharif and PM Shehbaz Sharif today, I have verbally resigned as Finance Minister. I will tender a formal resignation upon reaching Pakistan. It’s been an honour to serve twice as Finance Minister. Pakistan Paindabad,” he said.

Senior PML-N leader Ishaq Dar would replace Miftah as new finance minister. Dar’s nomination was put forth by PM Shehbaz and former prime minister Nawaz Sharif.

The meeting discussed overall political and economic situation of the country. It was of the opinion that the incumbent government had to steer the country out of the economic crisis caused by the previous government of Pakistan Tehreek-e-Insaf (PTI).

Miftah submitted his resignation to the PML-N supreme leader, saying the ministry was entrusted by the party.

“You have trusted me with this job and I tried to serve with my full capacity to serve the nation,” he said during the meeting.

The PML-N supremo and PM Shehbaz appreciated Ismail’s efforts for carrying out the responsibilities under the most difficult financial situation in the country.

Earlier in the day, Interior Minister Rana Sanaullah during a press conference confirmed that Dar would return to the country next week and would help to manage the country’s economic affairs in “better way”.

Miftah’s term as the finance minister is ending on October 27 as he could only serve for six months as an outsider.

Following the decision, Dar will assume charge as the finance minister and it is likely that he could return to Pakistan with PM Shehbaz and will take oath as finance minister on Tuesday.

In a series of audio clips that surfaced on social media on Sunday, Maryam Nawaz is heard questioning Mitah’s performance.

“Don’t know what Miftah is doing. Everyone is complaining,” she allegedly said to Shehbaz Sharif adding that Miftah was not shouldering the responsibility and uttering things on TV that made so sense.

In the alleged conversation, Maryam and Shahbaz praise Ishaq Dar, who, they concurred had the capacity to control every situation.

There are claims that around 8 gigabytes (GB) of data containing audio recordings has been leaked from the Prime Minister House and made available on the dark net for sale.