The Mukesh Ambani-led Reliance Industries on Thursday rejected a report appearing in Pakistan's Daily Times newspaper that suggested that former PML-Q leader and one-time Musharraf loyalist Makhdoom Faisal Saleh Hayat, who is slated to become that country's next finance minister, was its money manager

In a statement, a Reliance Industries spokesman said: "Our name has been incorrectly mentioned in the story and we would request you to kindly drop any reference to us in the same."

Earlier, the Daily Times had reported that Pakistan Prime Minister Yousuf Raza Gilani may soon appoint Makhdoom Faisal Saleh Hayat as the country's finance minister.

It said that Hayat was expected to take oath within the next 48 hours, as he has already had separate talks both Gilani and President Asif Ali Zardari.

The Pakistani paper had also claimed that Hayat is managing a massive hedge fund in Dubai of over one billion dollars which is apparently owned by India's Ambanis.

It said that the hedge fund was called New Silk Route Partners (NRS) and is 1.4 billion US dollars fund owned by the Ambanis with some local partners in the United Arab Emirates (UAE).(ANI)