Ahsan Iqbal, pictured in October 2017, was attacked whereas leaving a public assembly Sunday.
Confirming the incident, Pakistan Muslim League-Nawaz (PML-N) leader Tallal Chaudhry said Iqbal was out of danger.
Iqbal, who was shot in the arm on Sunday evening, was shifted to the Intensive Care Unit (ICU) after his surgery was completed.
District Police Officer (DPO) Imran Kishwar had told reporters that the suspect had managed to slip into the gathering carrying a 30-bore weapon, which he later pulled out and fired at the minister.
According to the doctors, Iqbal's bone was fractured after a bullet pierced through his right shoulder.
District police officer Irman Kishwar told CNN, "As he got out of a auto, a young man shot him".
The Punjab government today constituted a joint investigation team (JIT) to probe the attack on Iqbal.
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Labor already faces a byelection for the seat of Perth, with Tim Hammond announcing last week he would resign for family reasons. Sharkie resigned following the High Court's decision to render Gallagher ineligible to hold office on Wednesday.
"We know the motive of this attack but I want to tell that this is a very risky game being played against the Pakistan Muslim League-Nawaz (PML-N)", Information Minister Marrium Aurengzeb said adding that "this politics of hatred" should be stopped now.
The suspected shooter was later taken into custody.
Amidst criticism of the accord reached with the protesters, Interior Minister Iqbal had said that while the agreement that ended the Faizabad sit-in had not been "desirable", the government had been left with little choice in the matter.
"The moment Hussain opened the fire on the minister the PML-N workers present there subdued him", he said. He is one of the most senior members of the ruling party.
Both the party's leader and Pakistan's prime minister have condemned the attack, which comes just months ahead of an expected election.
The vote will only be Pakistan's second-ever democratic transition, and with the PMLN in disarray since Prime Minister Nawaz Sharif was ousted by the Supreme Court over graft allegations last summer, there has been growing speculation it could be delayed. Considered the brains behind the party's development agenda, he previously headed up the planning ministry.