Deputy Gov takes SBP charge as Reza Baqir’s tenure ends

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The senior-most deputy governor of the State Bank of Pakistan will steer the central bank till the appointment of a permanent head after the tenure of Reza Baqir, who was appointed the SBP chief by the Pakistan Tehreek-e-Insaf, came to an end on Wednesday.

The announcement was made by Finance Minister and PML-N leader Miftah Ismail in a tweet. Miftah said Dr Murtaza Syed, a former official of the International Monetary Fund will be at the helm. “Dr Murtaza Syed, an eminently qualified economist with rich IMF experience, will take over as Governor SBP. I wish him the best in his new role.”

Dr Murtaza Syed, a PhD in economics from Nuffield College at the University of Oxford, was appointed as deputy governor for a period of three years, in pursuance of Section 10(4) of the State Bank of Pakistan Act 1956 (amended), his profile on the SBP website read. He had assumed his responsibilities on January 27, 2020.

The other two names in the panel are Aurangzeb Khan, President of Habib Bank Limited, and a senior IMF official.