Federal Minister for Finance and Revenue Miftah Ismail announced on Tuesday that the government has decided against extending the term of Dr Reza Baqir as State Bank of Pakistan’s (SBP) Governor, with his three-year term set to expire tomorrow (Wednesday).
Taking to Twitter, the finance minister said that the SBP Governor has been informed of the government’s decision.
“I want to thank Reza for his service to Pakistan. He is an exceptionally qualified man & we worked well during our brief time together. I wish him the very best,” the minister said in his tweet.
Dr Baqir was appointed as SBP Governor on May 4, 2019, for a period of 3 years and replaced Tariq Bajwa.
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Since the government is yet to make an announcement regarding the new Governor, Dr Murtaza Syed, who is currently the senior-most Deputy Governor, will assume the charge as the Acting Governor.