Riaz Riazuddin Appointed as Acting Governor of SBP

Federal Government is reluctant to extend the services of current Governor State Bank of Pakistan (SBP) Ashraf Mehmood Wathra for a second 3-year term. In his place, the Federal Government has appointed Mr. Riaz Riazuddin as acting Governor State Bank of Pakistan (SBP) for a period of three months.

Sources in SBP said that Ashraf Mehmood Wathra’s 3 year service term was completed on April 28, 2017. Furthermore, Federal Minister Finance Senator Ishaq Dar is not willing to hire him as Governor SBP for next three years.

As per SBP law, any governor can serve 2 terms consecutively and Ashraf Mehmood Wathra technically was eligible to serve the 2nd term as well.

Ashraf Wathra’s Stint at SBP

Ashraf Mehmood Wathra’s period at SBP has come to be known as one which maintained a low interest rate regime in Pakistan. After his joining in April 2014, the policy rate was at 10 pc, which was further brought down to as low as 5.75 pc during his stint as Governor SBP.

Riaz Riazuddin will work as acting governor SBP for 3 months or till the time the government appoints a full-time Governor SBP.

It should be mentioned that the Governor SBP’s position is a constitutionally protected post. Once someone has been appointed and notified in the position, only the Prime Minister has the authority to remove them from their office.

Riaz Riazuddin, the acting governor, is an academician and carrier officer of SBP. Riazuddin brings around 20 years of central banking experience to his new position as acting Governor SBP. Before joining SBP in 1994, he served at Applied Economics Research Centre (AERC), and University of Karachi as Assistant Professor/Research Economist.

  • PM SAHAB :
    Youngster Ko Q Nahi Mouqa Dete :
    Youngster BANKER Bhi Hai Jo At Least Kisi Bank Mian 10 Years Laga Chucky hai :
    Wo In Se Zaida Thinking Power Rakhty hai, Or Bohat Achi Soch K Sath, Policies K Sath, Revenue Main Bhi Izafa Karwa k dengy :

    • Qualification of a Governor is not of being young or old.The appointee must have proper knowledge that how to safeguard the interest of the country and its reserves.In Zardari time and even now the FC is carelessly transferred through Money gram or Western Union.On the other hand I “heard” that any Pakistani going abroad on a tourist or Business trip can take in his pocket US$10000/- which is too high amount for a country like Pakistan.Put it this way the country is financially not stable at all because from the last 10 years the corrupt thugs are running and they are getting rich by hours in DUBAI,UK,FRANCE on the name of fake democracy.

  • “Riaz Riazuddin, the acting governor, is an academician and carrier officer of SBP” its not “carrier” but career…………………………propakistani team you need to improve your English proof reading capabilities……..

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