A report revealed that the assailant belongs to Tehreek-e-Labaik Party, the new ultra-religious group.
The 59-year-old Iqbal is a USA -educated politician long associated with the party Sharif previously led, the Pakistan Muslim League-Nawaz (PML-N).
The medical superintendent of the Services Hospital, Dr Ameer, has said Iqbal is in stable condition and the minister will be kept under observation for 24 hours.
Following the attack on Interior Minister Ahsan Iqbal, Punjab Police has made a decision to review security protocols of every VIP of the government. "We are interrogating him to find out whether he acted alone or at the behest of someone", he said.
The suspect then claimed that he hurled the shoe at him because he was not happy with the PML-N government to change the clause from the Constitution related to the finality of the Prophet. "I am personally overseeing the investigation". He said the 22-year-old gunman fired at the minister at close range.
The bullet wounded Iqbal in his shoulder.
"Police are investigating the matter further", the DC's letter to the Punjab chief secretary read. However, Azeem had managed to escape after the incident and was arrested Monday morning. "Allah Almighty has been very kind".
"We are not sure whether it has got anything to do with the motive".
Iqbal is a senior member of the governing Pakistan Muslim League (Nawaz).
The attack was swiftly condemned by the global community as Pakistanis voiced fears it represented an attempt to weaken democracy ahead of the federal elections, widely expected to be held late this summer. In a statement issued by President House, he prayed for early recovery of the federal minister and also sympathized with the family.
The poll will pit the PML-N against the Pakistan Tehreek-e-Insaf party (PTI) led by former cricket star Imran Khan.
Terming the incident as "sad", Malala, who is pursuing a degree in Philosophy, Politics and Economics at the Oxford University was quoted by Geo TV as saying, "I wish that every Pakistani [person] remains safe and that no one's life is in danger".