Federal Finance and Revenue Minister Mufta Ismail announced on Tuesday that the government has decided to extend Dr Raza Bakir's term as Governor of the State Bank of Pakistan (SBP), his three-year term ending tomorrow (Wednesday). Used to be.
The Finance Minister said on Twitter that the SBP Governor has been apprised of the government's decision.
The three-year term of Governor SBP Dr Raza Bakir ends tomorrow. I have spoken to him and told him about the decision of the government. I would like to thank Raza for his services to Pakistan. He is an exceptionally capable person and we have worked together in our short time. I wish him well.
- Mufta Ismail (iftMiftahIsmail)
"I would like to thank Raza for his services to Pakistan. He is an exceptionally capable man and we have worked together in our short time. I wish him all the best," the minister said. Said in a tweet.
Dr. Bakir was appointed as the Governor of SBP for a term of 3 years on May 4, 2019, replacing Tariq Bajwa.
As per the SBP Act, whenever the office of the Governor becomes vacant or the Governor becomes incapacitated, the senior-most Lieutenant Governor shall be the acting Governor until the Governor is appointed.
As the government is yet to announce a new governor, Dr Murtaza Syed, who is currently the senior-most deputy governor, will take over as the acting governor.
According to sources, the top three candidates. These include Noor Ahmed, Pakistan's executive director at the Asian Development Bank (ADB), Aurangzeb Khan, chairman of Habib Bank Ltd, and Asim M Hussain. The final decision in this regard will be taken by Prime Minister Shahbaz Sharif.
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