The coalition government, just weeks before the end of its term, has decided to fill key vacant positions in various financial institutions, including the presidency of two state-owned banks.
The positions to be filled include those in the National Bank of Pakistan, the Zarai Taraqiati Bank Limited, and the Competition Commission of Pakistan. The names for the deputy governor of the State Bank of Pakistan (SBP) have yet to be finalised, said sources in the finance ministry.
In the first phase, the government has submitted a summary to fill four vacant positions of members of the Commission of Pakistan (CCP). The antitrust watchdog has been non-functional due to these vacancies, and its chairperson, Rahat Kunain, has also completed her term, leaving the fifth position vacant. The finance ministry has circulated a summary for the approval of the federal cabinet regarding the appointment of CCP members. The cabinet’s decision is expected on Saturday.
The government has proposed the names of Kabir Ahmed Sidhu, Salman Amin, Abdul Rashid Sheikh, and Captain (retired) Saeed Ahmad Nawaz as CCP members. Alternate names include Muhammad Aslam Hayat, Riaz Ahmad Memon, Mohammad Haroon Zamir Khan, Nadia Nabi, Muhammad Anwar Sheikh, Jam Umair Ahmad, Tariq Bakhtawar, and Nauman Afzal Tariq.
Delays in filling these positions have rendered the CCP ineffective. The notifications for the new members are expected next week, according to sources.
design: Ibrahim Yahya
The coalition government has chosen to fill these posts shortly before the end of its term. The delay in appointments, however, was due to a lack of consensus among the coalition partners. While it was understood that each political party would have the freedom to bring in candidates of its choice for the ministries they control, this principle has not been strictly followed, and candidates from different parties have been accommodated, said the source.
The finance ministry is now acting with unusual haste in making these appointments, moving summaries after regular working hours and on weekends.
Sources indicate that the government may appoint Rehmat Ali Hasnie as the President of the National Bank of Pakistan (NBP). The Pakistan Peoples Party (PPP) has recommended his name, while the Pakistan Muslim League-Nawaz (PML-N) has considered Javed Qureshi and Adnan Alley Agha. Rehmat Hasnie has been “looking after” the affairs of the NBP as the acting president since May 2022. Sources say, the summary for the appointment of the new NBP president may be circulated for cabinet approval in the next few days, with Rehmat’s name along with two other nominees.
The government is also finalising the appointment of a president for Zarai Taraqiati Bank Limited (ZTBL), a position that has been vacant since November last year. Asad Ullah Habib has been acting as the president for the past eight months. For the President of the Punjab Provincial Cooperative Bank Limited (PPCBL), Tahir Yaqoob Bhatti is the top candidate on the shortlist, said sources.
The government has yet to move a summary for the appointment of a new deputy governor of the State Bank of Pakistan (SBP) to replace Dr Murtaza Syed. By not filling the vacant position within one month, the government has already violated the SBP Act. The amended SBP Act states that deputy governors should be appointed by the federal government, in consultation with the finance minister and the governor, from a panel of three candidates recommended by the governor for each vacancy, in order of merit. The panel of three candidates initially shared by the SBP governor has since been withdrawn. Sima Kamil, another Deputy Governor of the SBP, will also complete her three-year term on August 25th.
An appointment for the position of SBP deputy governor may be finalised next week, although obstacles remain due to age and dual nationality restrictions for the position.
Published in The Express Tribune, July 16th, 2023.
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