SBP governor: Ministerial committee to finalise names

ISLAMABAD: After receiving a summary from the Ministry of Finance, Prime Minister Shehbaz Sharif has constituted a ministerial committee for recommending names to the federal cabinet for Governor State Bank of Pakistan (SBP) for a term of five years.

The Ministry of Finance has moved the official summary to Prime Minister’s Office and proposed a list of six candidates, including Saeed Ahmed, former President National Bank of Pakistan, Asim Hussain, former IMF official, Syed Murtaza, Acting Governor SBP, and Zafar Masud, President Bank of Punjab. The name of Deputy Governor SBP Mohammad Jamil and Ashraf Khan, former Governor SBP, are also included in the summary as potential candidates for the top position in the SBP.

“Now Prime Minister Shehbaz Sharif has constituted a ministerial committee to recommend names to the federal cabinet, which is scheduled to meet today for granting approval to the name of governor SBP for a term of five years,” a top official of the Finance Ministry confirmed while talking to The News here on Monday.

The Pakistan Democratic Movement-led government is going to approve the name of governor SBP probably on Tuesday (today) as the federal cabinet is scheduled to meet under the chairmanship of PM Shehbaz Sharif. The PMLN has recommended three names including Asim Hussain, Saeed Ahmed and Murtaza Syed. The other mainstream ally of ruling PDM coalition, Pakistan Peoples Party Parliamentarians (PPPP) recommended the names of Ashraf Khan and President Bank of Punjab Zafar Masud.

Zafar Masud had also served as Director General Central Directorate of National Savings (CDNS) during his career. He is among couple of those fortunate who had survived an aircraft crash near the Karachi airport a couple of years ago when the Covid-19 pandemic was at its peak.

Asim Hussain, Zafar Masud and Acting Governor SBP are among the three strong contenders for the top position of Governor SBP.