After the unexpected removal of State Bank of Pakistan (SBP) Governor, Tariq Bajwa, now International Monetary Funds’ current Senior Resident Representative for Arab Republic of Egypt, ‘Dr. Reza Baqir’ has assumed charge of new State Bank Governor.
Earlier on Sunday (May 5) President of Pakistan, Dr. Arif Alvi appointed him for a period of three years, under Section 10(3) of the State Bank of Pakistan Act 1956, said an official statement. “The President of Pakistan is pleased to appoint Dr. Reza Baqir as Governor State Bank of Pakistan for a period of three years from the date he assumes office,” a subsequent notification read.
A Harvard and Berkeley University of California alumnus, Dr. Baqir has been with the IMF since 2000. He has previously served as the head of the IMF Mission for Romania, and as Head of the Fund’s Debt Policy Division.
Baqir’s appointment comes a day after Governor Tariq Bajwa on Friday (May 3) stepped down from his post after Prime Minister Imran Khan sought his resignation. As per reports, Khan had refused to own the Asset Declaration Scheme, and had claimed that the scheme was prepared on the instructions of the prime minister. PM Office sources said the FBR chairperson’s refusal to own the scheme had irked the prime minister.
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