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President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani are reported to have completed their consultations regarding the appointment of new Finance Minister.

Sources privy to the developments told that the government is pondering seriously to give the portfolio to Federal Minister for Privatization Senator Waqar Ahmad Khan.

They said that the Minister also had separate meetings with the President and the Prime Minister, in which they discussed the possibility of assigning him new responsibilities.

The Minister, sources claimed, assured the President and the Prime Minister that he will try to come up with the responsibilities what might be.

According to sources, President and Prime Minister could not reach any consensus on the names of Hafeez Pasha, Makhdoom Shahab-ud-Din and Nasim Beg, however after the meeting of Waqar Ahmad Khan with President and Prime Minister, it is expected to assign the portfolio to Senator Waqar Ahmad Khan.

Final decision in this regard is expected anytime, sources added.