A sense of insecurity
Primary financial institutions of the nation are being run by a collection of temporary and adhoc post holders
The move towards adhoc arrangements at the top of virtually all national financial institutions is troubling. The offices of public accounts, revenue and currency are all being run by temporary appointments. In the case of the Auditor General of Pakistan, a constitutional post, an almost farcical situation has arisen. The post fell vacant on the retirement of acting AGP Haque Nawaz who had been in-post for just 18 days. This vital position is responsible for keeping the accounts of state and the certification of incomes and expenditures made by the federal government. Without an AGP a vast swathe of the financial business of the government comes to a grinding halt — and there is a budget due within the month, the last of the PML-N government before the general election in 2018. Even this brief appointment was marred by a bureaucratic gaffe — the notification of the appointment of Mr Nawaz was erroneous. A parlous state of affairs indeed.
SBP to issue commemorative coin in Edhi’s memory from March 31
Currently, there is no governor of the State Bank of Pakistan, the outgoing governor, Ashraf Mahmood Wathra, having retired on 28th April. The relevant legislation covering the appointment is the SBP Act which says that the governor has to be appointed immediately by somebody on an acting basis and anyway within three months. There have been recommendations forwarded for consideration for both AGP and the governorship of the SBP which require presidential approval. Thus far there is nothing but a ringing silence in respect of both. Turning to the Federal Board of Revenue (FBR) this is another position being ‘looked after’ by a temporary post holder — Dr Mohammed Irshad who is contracted until 30th June after which there is a void.
SBP rules to throttle terror financing
Taken all together the primary financial institutions of the nation are being run by a collection of temporary and adhoc post holders whose powers are limited both by the temporary nature of their positions as well as their short duration. They are caretakers rather than substantive holders of the positions they occupy. For a government that likes to present itself as a competent and prudent fiscal manager this hardly bodes well. There are competent candidates to fill these positions. An early resolution would be welcome.
Published in The Express Tribune, May 3rd, 2017.
SBP to issue commemorative coin in Edhi’s memory from March 31
Currently, there is no governor of the State Bank of Pakistan, the outgoing governor, Ashraf Mahmood Wathra, having retired on 28th April. The relevant legislation covering the appointment is the SBP Act which says that the governor has to be appointed immediately by somebody on an acting basis and anyway within three months. There have been recommendations forwarded for consideration for both AGP and the governorship of the SBP which require presidential approval. Thus far there is nothing but a ringing silence in respect of both. Turning to the Federal Board of Revenue (FBR) this is another position being ‘looked after’ by a temporary post holder — Dr Mohammed Irshad who is contracted until 30th June after which there is a void.
SBP rules to throttle terror financing
Taken all together the primary financial institutions of the nation are being run by a collection of temporary and adhoc post holders whose powers are limited both by the temporary nature of their positions as well as their short duration. They are caretakers rather than substantive holders of the positions they occupy. For a government that likes to present itself as a competent and prudent fiscal manager this hardly bodes well. There are competent candidates to fill these positions. An early resolution would be welcome.
Published in The Express Tribune, May 3rd, 2017.