Media reports say Pakistani lawmakers yesterday elected former petroleum minister Shahid Khaqan Abbasi as the country's new prime minister, replacing ousted veteran leader Nawaz Sharif.

Sharif's ruling Pakistan Muslim League (Nawaz) party used its majority in the National Assembly to install Abbasi, after the Supreme Court last week ordered Nawaz Sharif disqualified from office over failure to disclose a source of income.

Sharif nominated staunch ally Abbasi as interim leader until his brother, Shahbaz, becomes eligible to take over, probably within two months.

The ruling Pakistan Muslim League-Nawaz (PML-N) anointed Shahbaz Sharif but he will first have to be elected to the National Assembly, according to the BBC.

The BBC says Nawaz Sharif stepped down on Friday following a decision by the Supreme Court to disqualify him from office over corruption allegations.

The ruling reportedly came after an investigation into his family's wealth following the leak of the Panama Papers in 2016, which linked Mr. Sharif's children to offshore companies.

The court's ruling stated that Mr. Sharif had been dishonest in not disclosing his earnings from a Dubai-based company in his nomination papers during the 2013 general election.

The court recommended anti-corruption cases against several individuals, including Mr. Sharif, his daughter Maryam and her husband Safdar, Finance Minister Ishaq Dar and others.

If Shahbaz Sharif, 65, is to take over, he must quit as chief minister of Punjab province and then win a by-election into parliament, which should take 45 days.

Pakistan's Dawn newspaper said that Shahbaz Sharif's ascension to the prime minister's office was "considered to be a foregone conclusion".

Nawaz Sharif, in a speech to a PML-N meeting on Saturday, said: “I support Shahbaz Sharif after me but he will take time to contest elections so for the time being I nominate Shahid Khaqan Abbasi.”