Governor of State Bank Of Pakistan resigned
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Plz Wait for detail Thanx :)
Governor of State Bank Of Pakistan resigned
- Thread starter Ammad Hafeez
- Start date
Ammad Hafeez
Minister (2k+ posts)
SBP governor seen on his way out, search starts for replacement >> Now SBP resigned..
SBP governor seen on his way out, search starts for replacement>>Now SBP resigned..
Wednesday, June 02, 2010
By By Amir Zia
KARACHI: State Bank of Pakistan (SBP) Governor Syed Salim Raza is seen on his way out without completing his three-year term and the government has already started a hunt for his replacement, senior government and SBP officials said on Tuesday.
Raza, who took charge of the central banks top slot in January 2009, retires from his office in February 2011, but the government sources say that he wants to quit early after being unable to get an extension in service under the State Bank of Pakistan Act that does not allow a person exceeding the age of 65 years to hold this position.
Raza wanted an extension, which is not possible under the SBP Act, said a senior government official on the condition of anonymity. Therefore, he plans to quit early. It is now the question of when he leaves not of whether he will.
However, the spokesman for the central bank denied reports that Raza was on his way out. I have no knowledge (about the possible change), said SBP spokesperson Syed Wasimuddin. He (Raza) came to the office today. As far as I know that the third quarterly report on the state of Pakistans economy has been issued under his signatures.
But the SBP insiders say that the matter was not that simple.
Another senior SBP official, who also asked not to be named, said that for the last couple of months, the governor was avoiding attending important official meetings and engagements. Instead, he is sending his deputy to represent the bank.
His body language and the lack of interest in the affairs of the bank say a lot.
Sources in the SBP say that Razas very appointment had been made in violation to the SBP Act and remains controversial from the day one.
The SBP Act states in its Section 10, Clause 3 that the The Governor shall be appointed by the President for a term of three years Provided that the Governor shall be eligible for re-appointment for another term of three years.
The act further states, No person shall hold the office of the Governor after attaining the age of sixty-five years.
The senior SBP official said that Razas appointment remain in violation of the act as he cannot even complete his first term of three years in the office because of his age. The government appears reluctant to grant more favours to Syed sahib because it would create a political uproar.
Raza is seen being close to President Asif Ali Zardari and has allegedly been involved in managing his wealth when he was associated with the Citibank.
Zardari returned the favour when he became president, appointing him as the SBP governor in violation of the SBP Act.
Government sources say that several big shots of Pakistans financial world have started active lobbying to get the top slot, which includes husband of a Pakistan Peoples Party (PPP) lawmaker, a former Citibank official and a deputy governor of the central bank.
The SBP officials say that reports of governors exit compound the confidence of crisis.
This situation should not linger on. The sooner the new governor, with a long-term mandate takes charge, the better, the SBP official added.
SBP governor seen on his way out, search starts for replacement>>Now SBP resigned..
Wednesday, June 02, 2010
By By Amir Zia
KARACHI: State Bank of Pakistan (SBP) Governor Syed Salim Raza is seen on his way out without completing his three-year term and the government has already started a hunt for his replacement, senior government and SBP officials said on Tuesday.
Raza, who took charge of the central banks top slot in January 2009, retires from his office in February 2011, but the government sources say that he wants to quit early after being unable to get an extension in service under the State Bank of Pakistan Act that does not allow a person exceeding the age of 65 years to hold this position.
Raza wanted an extension, which is not possible under the SBP Act, said a senior government official on the condition of anonymity. Therefore, he plans to quit early. It is now the question of when he leaves not of whether he will.
However, the spokesman for the central bank denied reports that Raza was on his way out. I have no knowledge (about the possible change), said SBP spokesperson Syed Wasimuddin. He (Raza) came to the office today. As far as I know that the third quarterly report on the state of Pakistans economy has been issued under his signatures.
But the SBP insiders say that the matter was not that simple.
Another senior SBP official, who also asked not to be named, said that for the last couple of months, the governor was avoiding attending important official meetings and engagements. Instead, he is sending his deputy to represent the bank.
His body language and the lack of interest in the affairs of the bank say a lot.
Sources in the SBP say that Razas very appointment had been made in violation to the SBP Act and remains controversial from the day one.
The SBP Act states in its Section 10, Clause 3 that the The Governor shall be appointed by the President for a term of three years Provided that the Governor shall be eligible for re-appointment for another term of three years.
The act further states, No person shall hold the office of the Governor after attaining the age of sixty-five years.
The senior SBP official said that Razas appointment remain in violation of the act as he cannot even complete his first term of three years in the office because of his age. The government appears reluctant to grant more favours to Syed sahib because it would create a political uproar.
Raza is seen being close to President Asif Ali Zardari and has allegedly been involved in managing his wealth when he was associated with the Citibank.
Zardari returned the favour when he became president, appointing him as the SBP governor in violation of the SBP Act.
Government sources say that several big shots of Pakistans financial world have started active lobbying to get the top slot, which includes husband of a Pakistan Peoples Party (PPP) lawmaker, a former Citibank official and a deputy governor of the central bank.
The SBP officials say that reports of governors exit compound the confidence of crisis.
This situation should not linger on. The sooner the new governor, with a long-term mandate takes charge, the better, the SBP official added.
Ammad Hafeez
Minister (2k+ posts)
Absolutely right.. Wese bhi Governor Saab ko laat maar k bhaganey ka poar plan toh ho hi Chuka tha.. Wese Punjab mei PPP aur PML N dono ek ho kr kaam krtey hain koi ek Zimedar nai hai Dono hain agar kch hota hai toh..
jalalamardan
Councller (250+ posts)
bank waisey bi khalii tha tho governer ki kya zaroorat thi.
Ammad Hafeez
Minister (2k+ posts)
Governor SBP resigns
Governor SBP resigns
Governor State Bank of Pakistan (SBP) Salim Raza has resigned from office, Geo News reported Wednesday night.
According to official statement, President Asif Ali Zardari has accepted Salim Raza’s resignation. It said the Governor SBP had tendered his resignation due to personal reasons on May 6.
Deputy Governor Shaikh Yasin has been made acting Governor SBP.
http://www.geo.tv/6-3-2010/66059.htm
Governor SBP resigns
Governor State Bank of Pakistan (SBP) Salim Raza has resigned from office, Geo News reported Wednesday night.
According to official statement, President Asif Ali Zardari has accepted Salim Raza’s resignation. It said the Governor SBP had tendered his resignation due to personal reasons on May 6.
Deputy Governor Shaikh Yasin has been made acting Governor SBP.
http://www.geo.tv/6-3-2010/66059.htm
Ammad Hafeez
Minister (2k+ posts)
Governor SBP resigns
Governor SBP resigns
Governor State Bank of Pakistan (SBP) Salim Raza has resigned from office, Geo News reported Wednesday night.
According to official statement, President Asif Ali Zardari has accepted Salim Razas resignation. It said the Governor SBP had tendered his resignation due to personal reasons on May 6.
http://www.geo.tv/6-3-2010/66059.htm
Governor SBP resigns
Governor State Bank of Pakistan (SBP) Salim Raza has resigned from office, Geo News reported Wednesday night.
According to official statement, President Asif Ali Zardari has accepted Salim Razas resignation. It said the Governor SBP had tendered his resignation due to personal reasons on May 6.
http://www.geo.tv/6-3-2010/66059.htm
S
shagi
Guest
What was the actual reason for his resignation ?
Wadaich
Prime Minister (20k+ posts)
Actual Reason!
For last few decades the Governors of STATE BANK, chairmen FBR, Secretary Ministry of Finance, top management of Ministry of Petroleum etc. are appointed by IMF or Neo Cons. When these people advance their agenda to the target, these are pulled back and a fresh face is introduced.
For last few decades the Governors of STATE BANK, chairmen FBR, Secretary Ministry of Finance, top management of Ministry of Petroleum etc. are appointed by IMF or Neo Cons. When these people advance their agenda to the target, these are pulled back and a fresh face is introduced.
Ammad Hafeez
Minister (2k+ posts)
