Pakistan's former finance minister, Shaukat Aziz, has been sworn in as the country's new prime minister.

Mr. Aziz told reporters after the ceremony the transfer of power is an indication of a stable political culture in Pakistan.

Mr. Aziz, who entered government after a long career in banking, is seen as a trusted ally of President Pervez Musharraf, who put him in charge of Pakistan's finances after seizing power in 1999.

Prime Minister Aziz was elected Friday by a majority vote of the National Assembly, despite an opposition boycott. He is expected to announce his Cabinet by Wednesday.

The 55-year-old prime minister has been credited with reforming an economy that was crippled by international sanctions imposed after Pakistan tested nuclear weapons in 1998.