ISLAMABAD: Pakistan’s Finance Minister Shaukat Tarin said today he had resigned to concentrate on his private banking business and avoid any conflict of interest.

A banker by profession, Tarin initially joined the cabinet headed by Prime Minister Yousuf Raza Gilani as an advisor, but was elevated to the position of finance minister about 16 months ago.

“I have resigned and this decision of mine is based on principle,” Tarin told the private Dunya television channel. He said he had sent a letter of resignation to the prime minister.

“I have shares in a bank and will now concentrate more on my business,” he said. Tarin said he did not want to give the impression that he was using his official position to promote his private business.