Finance secretary appointed executive director to WB

ISLAMABAD: Prime Minister Imran Khan has approved incumbent Secretary Finance Naveed Kamran Baloch as Executive Director (ED) to the World Bank (WB) for three years, it is learnt.

Now the government will have to find out suitable candidate for the position of Secretary Finance that would become vacant after assumption of newly nominated ED to the World Bank. Different names are under consideration for the slot of Secretary Finance including Zafar Hasan, Federal Secretary Communication, Ahmed Nawaz Sukhera, Secretary Cabinet Division, Umar Hameed, Secretary National Food Security and existing Special Secretary Finance Mohsin Mushtaq Chandna.

“Yes, the PM has approved a summary for nomination of Naveed Kamran Baloch as next Pakistan’s ED to World Bank and he will join his posting next month,” top official sources confirmed to The News here on Wednesday.

There was a close contest among two contenders for this posting including Principal Secretary to PM Azam Khan and incumbent Secretary Finance Naveed Kamran Baloch. Now finally the government has approved nomination of Secretary Finance who will join as ED to WB after the annual meeting of Bretton Wood Institutions (BWIs) such as the IMF and WB.

The Economic Affairs Division (EAD) had moved the summary to PM with four names including Azam Khan, Naveed Kamran Baloch, Secretary Establishment Ijaz Munir and former Governor SBP Tariq Bajwa. Now the government finally appointed incumbent Secretary Finance to represent Pakistan as ED at the World Bank for next three years.

The tenure of posting of ED/Alternate ED to World Bank and Asian Development Bank reduced by one year from four years to three years in order to bring tenure of Pakistani representatives in line with election cycles for appointment of Executive Director along with members of other jurisdictions of the same constituency.

The incumbent ED to WB Shahid Tarar will return to the country after completion of his tenure. The tenure of Shahid Mehmood at Asian Development Bank will complete next year.