Nawaz's younger brother Shehbaz Sharif, now the Chief Minister of the prosperous Punjab province, will be the new PM of Pakistan.
Sharif's party - Pakistan Muslim League - Nawaz (PML-N) alleged unfair trial and vendetta against the prime minister, with many suggesting the move as the Pakistani military's attempt to win back control of the state.
Hence, an interim prime minister would have to be chosen from among Sharif's confidants who will resign once Shehbaz is elected.
Punjab Chief Minister Shehbaz Sharif has said on Sunday that Nawaz Sharif's services for the country are unforgettable. Addressing the PML-N s parliamentary meeting, Sharif expressed disbelief at the grounds for his dismissal and vowed to continue to struggle for the supremacy of the Constitution.
He said that Nawaz Sharif's disqualification was an insult to the office of the prime minister."If anyone has dared to bring back former dictator Pervaiz Musharraf who on the run after looting 44 billion rupees of the country", CM GB questioned.
"Now that the short but final judgement has been analysed by the legal community, the political class and the citizenry in detail, the implications of it for politics in Pakistan need to be forthrightly addressed", it said.
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The three-term prime minister has a history of rocky relations with Pakistan's powerful military and he has been removed from office three times.
As the verdict was announced in Islamabad opposition supporters erupted in applause, rushing into the street chanting slogans and handing out candies in celebration.
"I do not think there will be any significant change in the political situation", she said and pointed out that Shahbaz has a long political experience and he could overcome the current crisis. He was first ousted on corruption charges in the early 1990s, and later in a military coup in 1999.
Sharif was accused of lying on a wealth declaration by failing to reveal a salary from a Dubai-based company, which he says he never claimed.
At the Saturday meeting, PML-N also made a decision to challenge Nawaz Sharif's disqualification through a review petition in the apex court. He was sworn in as the chief minister of Punjab on February 20, 1997, after being elected to the Assembly for the third time.
Their revelation sent shockwaves across the world, resulting in the resignation of Iceland's Premier Sigmundur David Gunnlaugsson, and put political pressure on then British Prime Minister David Cameron, who later admitted to having a profitable stake in a fund owned by his father.