Cabinet drops summary for selection of SBP governor

The federal cabinet dropped a summary from the agenda for the selection of the SBP governor in its meeting held under the chairmanship of Shehbaz Sharif

By Our Correspondent

July 28, 2022

The State Bank of Pakistan building in Karachi. File photo

ISLAMABAD: The federal cabinet dropped a summary from the agenda for the selection of State Bank of Pakistan (SBP) governor in its meeting held on Wednesday under the chairmanship of Prime Minister Shehbaz Sharif.

Top official sources confirmed to The News here on Wednesday that the federal cabinet did not grant approval to selection of the SBP governor.

The Ministry of Finance had proposed the names of six potential candidates, including Asim Hussain, a former IMF official, Dr Saeed, an SBP official who is currently serving as Adviser to Executive Director IMF based in Washington, DC, acting Governor SBP Murtaza Syed, Ashraf Khan, Mohammad Jamil and Zafar Masud.

The sources said that the summary was a part of the agenda of federal cabinet but it was withdrawn at the last moment.

When contacted, one top official said that the summary was dropped from the cabinet agenda in today’s meeting. The official said that hectic lobbying continues for the top position.