ISLAMABAD: Government of Pakistan passed the resignation of Tariq Bajwa and appointed Dr. Raza Baqar as the new governor of State Bank.
According to the notification issued by the Finance Division, Raza Baqar’s appointment has been made under Section 10 (3) of the State Bank Act 1, 1956.
Reza Baqar will perform the duties for a period of three years and his term will begin at the time he will handle the post.
According to Center for Economic Research in Pakistan, Raza Baqar has been working as a mission head of the International Financial Fund (IMF) in Romania since January 2016.
In the list on the IMF website, he has been told to be the current senior chairman of the fund for Egypt.
They have been associated with the IMF since 2000 as a Dated Policy Division.
Dr. Reza Baqar graduates from Harvard University and later, in ‘PhD’ in Economics from California University, Barclay.
He has also worked with the World Bank, Massachusetts Institute of Technology and the Union Bank of Switzerland.
It is clear that the government had lasted the Governor State Bank and the Federal Board of Revenue (FBR) chairman from their positions.
Similarly, Tariq Bajwa was also participating in the last round of the debate before finalizing the IMF program.
Tariq Bajwa and Jehanzeb Khan are both grade 22 officers in the Pakistan Administrative Service, although retired officers were posted earlier on this post.
It is believed that the FBR faces the most serious shortfall of its history near the end of the current financial year, which is more than $ 3 billion more than Rs. 50 billion.