In April 2022, Pakistan experienced significant political changes. Following a vote of no confidence amidst a constitutional crisis, opposition parties nominated Sharif as the candidate for Prime Minister, leading to the ousting of incumbent Prime Minister Imran Khan. Sharif was elected as Prime Minister on April 11, 2022, and took the oath of office the same day. The oath was administered by Senate Chairman Sadiq Sanjrani, as President Arif Alvi was on medical leave.

Sharif's government, representing the Pakistan Democratic Movement, faced a severe economic crisis, considered the worst since Pakistan's independence. His administration sought relief through a deal with the International Monetary Fund (IMF) and aimed to improve relations with the United States. However, the response to these efforts was limited. Meanwhile, Chinese Foreign Minister Qin Gang expressed concerns about Pakistan's internal instability, despite China's continued economic support for Pakistan, reflecting the complexities and challenges of Sharif's tenure in navigating economic difficulties and international relationships.

In 2023, Kakar was selected to be the Caretaker Prime Minister of Pakistan, a decision agreed upon by both the outgoing opposition leader and Prime Minister Shehbaz Sharif. President Arif Alvi ratified this nomination, officially appointing Kakar as Pakistan's 8th Caretaker Prime Minister. His oath-taking ceremony coincided with Pakistan's 76th Independence Day on August 14, 2023. On this notable day, Kakar also stepped down from his Senate position, and his resignation was promptly accepted by Senate Chairman Sadiq Sanjrani.