ISLAMABAD: The federal government appointed Tariq Bajwa as the new governor of the State Bank of Pakistan (SBP) as the formal procedure of signature by President Mamnoon Hussain has been completed.
It should be mentioned here that Bajwa has been a Civil Servant who retired last month as finance secretary. Hence, he will be the third bureaucrat to be appointed as head of the central bank.
President Mamnoon Hussain has signed the summary regarding his appointment, said an official of the finance ministry.
The SBP Act of 1956 empowers the President of Pakistan to appoint a governor for a term of three years.
It is pertinent to note here that the seat fell vacant in April this year when Ashraf Mehmood Wathra completed his three-year term but could not win a second term.
Bajwa did his Master in Public Administration from Harvard with a focus on economic subjects. He is the only Pakistani who won prestigious Littauer fellowship.
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