KARACHI: Pakistan Muslim League Nawaz (PMLN) led coalition government has formally decided not to extend another term to governor State Bank of Pakistan (SBP) Syed Raza. Baqir .
Finance minister, Mifta Ismael , on Tuesday conveyed to Raza Baqir that the new government was not interested in granting him another term as governor SBP.
Raza Baqir’s tenure spanning over three years is going to expire on May 4,2022 .
Pakistan Tehreek e Insaf (PTI) government had appointed Mr Raza as governor SBP in 2019 for a period of three years
Mr Raza had been in the limelight as chief of Pakistan’s central bank. He faced serious credibility issues as governor SBP. Imran Khan trusted him and defended him even in the worst times when he was under criticism from different political parties . However, soon after takeover as governor SNP in April last , the new coalition government in Pakistan had decided to replace Mr Raza from his office with some body who may not be controversial . Mr Raza’ policy of jacking up high interest rate had earned him bad repute .
