Abb Takk News

Tariq Bajwa Appointed Governor SBP

Amir Siyal 

Islamabad (July 7, 2017): The federal government has appointed Tariq Bajwa as the new governor of the State Bank of Pakistan (SBP).

Bajwa, a former finance secretary, will be the third bureaucrat to be appointed as head of the central bank.

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President Mamnoon Hussain approved appointment of Bajwa as SBP Governor.

The notification appointing Bajwa as Governor SBP was issued here.

It is to be mentioned here SBP Act of 1956 empowers the President of Pakistan to appoint a governor for a term of three years. The seat had fallen vacant in April this year when Ashraf Mehmood Wathra completed his three-year term.

Bajwa did his Master’s in Public Administration from Harvard with a focus on economic subjects. He is the only Pakistani who won prestigious Littauer fellowship.

Bajwa has also remained Federal Board of Revenue chairman for two and a half years.

Bajwa was from all-powerful District Management Group, now called the Pakistan Administrative Services. He has been given preference over an economist and a banker.

Two retired bureaucrats, Ghulam Ishaq Khan and Mohammad Yaqoob Malik, have also served as SBP governor. Former SBP governor Dr Ishrat Husain was also from the civil service but he resigned at an early stage of his civil service career.

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