Mr Bakhtiar has been active in Pakistan’s political arena from the late 1990s and still remains a major player. He was elected to the Provincial Assembly of the Punjab as a candidate of Pakistan Muslim League from Constituency PP-236 in 1997 Pakistani general election. He received 19,736 votes and defeated Makhdoom Ashfaq Ahmad, a candidate of Pakistan Peoples Party. He was elected to the NationalAssembly of Pakistan as a candidate of Pakistan Muslim League from Constituency NA-194 in 2002 Pakistani general election. He received 70,116 votes and defeated Makhdoom Shahabuddin. In the same election, he also ran for the seat of the Provincial Assembly of the Punjab as a candidate of PML-Q from Constituency PP-291 but was unsuccessful. On 4 September 2004, he was inducted into the federal cabinet of Prime Minister Shaukat Aziz and was appointed as Minister of State for Foreign Affairs. He continued to serve as Minister of State for Foreign Affairs until 15 November 2007. He ran for the seat of the National Assembly as a candidate of PML-Q from Constituency NA-194 in 2008 Pakistani general election, but was unsuccessful. He received 42,442 votes and lost the seat to Makhdoom Shahabuddin. He was re-elected to the National Assembly as an independent candidate from Constituency NA-194 in 2013 Pakistani general election. He received 64,272 votes and defeated Makhdoom Shahabuddin. In the same election, he also ran for the seat of the National Assembly as an independent candidate from Constituency NA-195 but was unsuccessful. He received 46,897 votes and lost the seat to Mustafa Mehmood. In the same election, he was re-elected to the Provincial Assembly of the Punjab as an independent candidate from Constituency PP-289. He received 25,898 votes and defeated Mian Muhammad Aslam Advocate. Following the election, he abandoned his Punjab Assembly seat in favor of the National Assembly seat. On 23 May 2013, he joined PML-N. In 2017 he was made In March 2018, he became business partner of Jahangir Khan Tareen after they together purchased a sugar mill for Rs 27 billion. This triggered speculation that he might join PTI soon. On 9 April 2018, Bakhtiar, together with seven other PML-N parliamentarians, quit the PML-N and formed a new group under the name of "Junoobi Punjab Sooba Mahaaz". The group accused PML-N for ignoring the southern part of Punjab and demanded the creation of separate province for southern Punjab. On 30 April, he resigned from his National Assembly seat in protest. On 9 May 2018, Junoobi Punjab Sooba Mahaaz merged with Pakistan Tehreek-e-Insaf. Subsequently, Bakhtiar joined PTI. He was re-elected to the National Assembly as a candidate of PTI from Constituency NA-177 in 2018 Pakistani general election. On 18 August, Imran Khan formally announced his federal cabinet structure and Bakhtiar was named as Minister for Water Resources. However, on 20 August 2018, he was sworn in as Federal Minister for Planning, Development and Reforms in the federal cabinet of Prime Minister Imran Khan. On 19 November 2019, He was appointed as Federal Minister for National Food Security and Research and served in that position until a perceived conflict of interest due to his sugar business, after which he resigned on April 6th, 2020.. He was appointed Minister of Economic Affairs after a cabinet reshuffle on the 6th of April, 2020.