ISLAMABAD:
President Dr. Arif Alvi approved appointment of Jameel Ahmad as new governor of National Bank of Pakistan (SBP). He will serve fiveyear term stated in the Ministry of Finance in statement on Friday.
The President gave the go-ahead on advice of Prime Minister Shehbaz Sharif in accordance with Article 48(1) of Constitution and Section 11(A)1 of National Bank of Pakistan Act (1956).
Ahmad was the deputy governor. of Central bank before it is raised.
The SBP has not had a full-time governor since Raza Bakir’s term ended. in May 2022, after which Murtaza Sayed took over as acting governor.
On May 4, it became known that senior- deputy governor of National Bank of Pakistan (SBP) will manage the central bank see you of constant head after tenure of Reza Bakir, who was appointed head of SBP Pakistan Tehreek-e-Insaf (PTI), came to an end.
announcement was made Finance Minister and PML-N leader Miftah Ismail. Mifta said that Dr. Murtaza Syed, former official of The International Monetary Fund (IMF) will be at the helm. “Dr. Murtaza Syed, eminent qualified economist with rich IMF experience will take over as Governor of the SBP. I wish to him best in his new role.”
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The day before, Miftah ruled. out extension to the head of the SBP. “Tomorrow SBP Governor Dr. Reza Bakir 3-year [term] expires. I spoke to him and told him of in governments decision. I want thank Reza for for his service to Pakistan,” Miftah said. in tweet. “He is exclusively qualified man and we worked well during our short time together. I wish he is very best”, he had added.
On July 8, it became known that government It was failed appoint new governor of SBP despite interview six candidates due to divisions within his ranks, violating a law that obliges him to appoint a governor within one month.
Central bank was without a permanent governor for in last over two months, especially at a time when Pakistan economy is facing serious challenges and central bank responsible for controlling inflation.
The Governor of the SBP is a co-signer of letter of Intention, which is a prerequisite for make a deal with International Monetary Fund (IMF).
Belonging six people who were interviewed before, three worked with IMF, including Acting Governor Dr. Murtaza Syed, according to
government sources.
