Raza Baqir on top of list to be posted as State Bank Governor: sources

ISLAMABAD: The name of Dr Raza Baqir has been on the top of the list of candidates after State Bank of Pakistan governor Tariq Bajwa tendered his resignation from the high office of the central bank, quoting sources ARY News reported on Saturday.

Dr Raza Baqir is presently serving as the International Monetary Fund’s resident director for Egypt.

Dr Baqir has also served as the IMF mission chief for Romania and Bulgaria and worked at the IMF for over 16 years apart of working at at the World Bank and other international monetary institutions.

According to reports names of, Ashfaque Hassan Khan, Dr Waqar Masood and Dr Wajid Rana also being tipped for the State Bank top office.

Dr Ashfaque Hassan is a member of the government’s Economic Advisory Council and the principal and dean of the School of Social Sciences and Humanities at NUST.

According to sources, the matter has been at the consultation level and a final decision yet to made.

The Governor State Bank of Pakistan (SBP) Tariq Bajwa tendered his resignation on Friday.

Federal government also relieved the Federal Board of Revenue (FBR) Chairman Dr Jahanzeb Khan from his office on Friday night.

According to sources, the names of Dr. Ahmed Mujtaba Memon, Javed Ghani and Fazal Yazdani Khan have been under consideration for appointment as the new chairman of the FBR.

An unsatisfactory economic condition triggered the latest development.

It was learnt that Prime Minister Imran Khan was unhappy with the Governor State Bank due to continuous devaluation of rupee, and with Chairman FBR due to halt in reforms process in the revenue board.

Sources privy to the matter told ARY News that the prime minister had also asked then finance minister Asad Umar to relieve both the officials, but due to the minister’s own resignation, the matter got delayed.