• The summary submitted by the Finance Division for the selection of the new Governor of the SBP was tabled by the federal cabinet.
• Instead of acting on the summary, the cabinet chose to create a six-person committee to examine the shortlisted candidates.
• Murtaza Syed, the senior-most deputy governor of the central bank, was appointed interim governor after Dr. Reza Baqir’s death.

The summary submitted by the Finance Division for the selection of the new Governor of the State Bank of Pakistan (SBP) was tabled by the federal cabinet on Wednesday.

Shehbaz Sharif, the prime minister, presided over the federal cabinet meeting.

Instead of acting on the summary provided by the Finance Division, the cabinet chose to create a six-person committee to examine the shortlisted candidates.

For the selection of a new State Bank of Pakistan Governor, the Ministry of Finance had sent the Prime Minister’s Secretariat six candidates (SBP).

The names included former IMF official Aasim M. Husain, DMG officer Dr. Saeed Ahmed, Bank of Punjab (BoP) President Zafar Masood, SBP Acting Governor Dr. Murtaza Syed, former SBP Deputy Governor Muhammad Jameel, and former SBP Governor Muhammad Ashraf Khan.

It is important to note that Dr. Murtaza Syed, the senior-most deputy governor of the central bank, was appointed interim governor when Dr. Reza Baqir’s three-year term, which expired on May 4, came to an end.

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