Jahangir Khan Tareen, the prominent business tycoon, has announced his decision to resign as the chairman of the Istehkam-e-Pakistan Party (IPP) and retire from politics altogether. This decision comes in the aftermath of his recent defeat in the 2024 general elections.

Taking to the social media platform X, formerly Twitter, Tareen expressed his gratitude to all those who supported him during the election and extended his congratulations to his opponents. He emphasized his deep respect for the will of the people of Pakistan and stated that as a result, he has chosen to step down from his position as Chairman of the IPP and exit the political arena entirely.

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Tareen also conveyed his appreciation to all the members of the IPP and wished them the best for the future. He expressed his commitment to continue serving his country to the best of his ability in a private capacity, seeking the prosperity of Pakistan through other means.

Tareen’s decision comes following his defeat in NA-155 and NA-149, constituencies that were traditionally considered his strongholds, where he was defeated by PTI-backed candidates.

I would like to thank everyone who supported me in this election and want to offer my congratulations to my opponents. I have immense respect for the will of the people of Pakistan. Therefore, I have decided to resign from my position as Chairman IPP and step away from politics…

— Jahangir Khan Tareen (@JahangirKTareen) February 12, 2024