The appointment came after the federal government accepted the resignation of Yaseen Anwar – last governor.
The appointment came after the federal government accepted the resignation of Yaseen Anwar – the outgoing governor.
According to the SBP spokesperson, Anwar had resigned for personal reasons.
“He wanted to give more time to his family after his son was seriously injured in a road accident,” Siddiqui said.
Sources, however, said Anwar decided to quit after he found himself unable to get along with Finance Minister Ishaq Dar.
He resigned from the post after he was assured he would not be barred from leaving the country, sources added. Anwar’s family is settled in Singapore.
Anwar was appointed SBP governor in July 2011 after former SBP governor Shahid Kardar stepped down from the position amidst rumours that he had developed differences with the ministry of finance.
Kardar’s predecessor, Saleem Raza, had also resigned after only 16 months in office.
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The primary function of a central bank everywhere in the world is Monetary Policy. Therefore, the position of Governor of central bank should be filled up with some professional economist (at least PhD) with experience in any IFI like World Bank, IMF, Islamic Development Bank, Asian Development Bank etc. But the Babus sitting in Ministry of Finance want someone with low competency so that s/he can never stand against the MOF !
Promoting the existing Deputy Governors was a better option rather than appointing an outsider who is not familiar with the organizational culture. There are existing 3 DGs among which one was considered favourable by the sources.