Finance Ministry Sends Six Names To PM For New State Bank Governor.

Finance Ministry has sent six names to the Prime Minister's Secretariat for the appointment of State Bank Governor, it has been learnt on Monday.

The names proposed for Governor State Bank include Dr. Saeed Ahmed Sabak, President National Bank, Asim Meraj Hussain, Murtaza Syed, acting Governor SBP, Zafar Masood, Muhammad, Jameel Deputy Governor State Bank and Muhammad Ashraf Khan, former Governor State Bank.

The cabinet will approve one of the names in a meeting on Tuesday, sources said According to sources, Zafar Masood is most likely to be appointed new Governor State Bank.

Dr Murtaza Saeed is currently serving as acting Governor of State Bank of Pakistan.

The position of central bank governor fell vacant on May 4 after the Pakistan Muslim League-Nawaz (PML-N) led coalition government decided against giving a second term to Dr Reza Baqir.

However, the government has failed to appoint a new governor of the State Bank of Pakistan despite interviewing six candidates due to the divisions within its ranks, violating a law that binds it to appoint the governor within one month.

The central bank has been without a permanent governor for the last over two months, particularly at a time when Pakistan's economy is facing serious challenges and the central bank has the responsibility to control inflation.

The SBP governor is a co-signatory of the Letter of Intent that is a prerequisite for...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT