Tarin, a veteran banker who negotiated an International Monetary Fund loan in 2008, said he had resigned to focus on private business interests.

An official in the office of Prime Minister Yousaf Raza Gilani said Tarin’s resignation had been accepted.

He also added that the prime minister appreciated the contribution of Tarin in turning around the sliding national economy and hoped that he would continue to extend his valuable advice to the government as and when needed.

Government officials had earlier said Tarin was stepping down to focus on his banking interests. In March 2008, a consortium comprising the International Finance Corporation, Bank Muscat, Nomura and Sinthos Capital, led by Tarin and another Pakistani banker, Sadeq Saeed, bought an 86.55 percent stake in Silk Bank for about $213 million.

“He will be leaving soon, maybe as early as this week,” said a government official, who declined to be identified. “He said he needs to focus on his business and that he can’t do both things at the same time.” The News newspaper said new investors in Tarin’s bank wanted him to step down and concentrate on the bank.

— With input from agencies