Masood Shaikh made acting NBP president

ISLAMABAD: The government on Thursday notified Masood Karim Shaikh as Acting President National Bank of Pakistan (NBP) till the appointment of the regular president of the biggest nationalised bank of the country, an official notification  issued by the Finance Division states.

Meanwhile, the government will also give additional acting charge of Federal Secretary Finance to Dr Shujaat, who is currently holding the portfolio of Special Secretary Finance as Dr Waqar Masood, incumbent Secretary Finance, will be retiring today (Friday) after reaching the age of superannuation.

In the absence of PM Nawaz Sharif in the country, who is currently attending the World Economic Forum (WEF) in Davos, the government had to appoint the acting in-charge on the post of chairman FBR and now secretary finance's post would also get an acting in-charge till the return of the premier to the country.

After the premier’s return from abroad, the government will make regular appointments on these posts. However, in the case of NBP, the government had already advertised the vacant post of President/CEO as the former President Syed Iqbal Ashraf had completed his term. The government appointed Masood Karim Shaikh as the acting NBP president till the regular president is appointed.

According to an official notification (No F.1 (9) Bkg- III/2017-136) issued by Deputy Secretary Banking, Ministry of Finance Mr. Masood Karim Shaikh, Senior Executive Vice President/Group Chief, International Banking Group, National Bank of Pakistan (NBP), Head Office, Karachi, will look after the work of President/CEO with effect from January 21, 2017 till appointment of regular President/CEO of the Bank under Banks (Nationalization) Act, 1974.

The finance ministry had sought the seniority list from the NBP management early this week and now finally decided that Masood Karim Shaikh should be given the acting charge of the NBP.