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Amidst IMF Talks, Govt Removes SBP Governor, ‘Mediocre’ FBR Chairman

The Pakistan Tehreek-e-Insaf (PTI) government removed State Bank of Pakistan (SBP) governor Tariq Bajwa and Federal Board of Revenue (FBR) Chairman Jahanzeb Khan in a series of rapid developments in Islamabad.

Tariq Bajwa confirmed that he was asked to resign to while he was in Islamabad to hold meetings with the International Monetary Fund (IMF) representatives. Advisor to the Prime Minister on Finance Hafeez Shaikh said the talks with IMF talks are progressing and positive results will be visible in the near future.

When asked whether removal of Bajwa during a crucial time send a negative message to participants, Hafeez said: “I hope the markets are going to look at our actions and decide. They have to see the totality of the actions and our policies.”

A replacement of the SBP governor is expected to be announced on Saturday (today), while there are details about the spot of FBR chief. Dawn reports that both the dignitaries had no prior idea about their removal and had already scheduled meetings for the coming days.

Both Bajwa and Khan are Grade 22 officers of the Pakistan Adminis­trative Service, though the former was appointed after his retirement.

Sources within the finance ministry told Dawn that Prime Minister Imran Khan believed Jahanzeb Khan was a ‘mediocre’ person and was largely responsible for the poor performance of FBR.

They also said that finance advisor also agreed with Khan and was willing to bring members of his own team to look after the country’s finances.

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