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Dr Reza Baqir has assumed the charge of the State Bank of Pakistan governor, the central bank .
President Arif Alvi appointed him to post for a period of three years in pursuance of Section 10(3) of the State Bank of Pakistan Act 1956.
“In pursuance of section 10 (3) of the State Bank of Pakistan Act, 1956, the President of Pakistan is pleased to appoint Dr Reza Baqir as Governor SBP for a period of three years from the date he assumes office,” said a Finance Ministry notification.
Baqir has eighteen years of experience with the International Monetary Fund (IMF) and two years with the World Bank. He was the head of the IMF’s office in Egypt and senior resident representative since August 2017.
He has also held positions as the IMF mission chief for Romania and Bulgaria, the division chief of the IMF’s Debt Policy Division, the head of the IMF delegation to the Paris Club, the deputy division chief of the IMF’s Emerging Markets Division and the IMF resident representative to the Philippines.
Meanwhile, Dr Ahmed Mujtaba Memon has also been appointed the new chairman of the Federal Board of Revenue (FBR). He was currently an additional secretary in the Finance Division.
Dr Raza Baqir has replaced Tariq Bajwa as governor SBP whereas Dr Ahmed Mujtaba Memon has been made FBR chairman in place of Jahanzeb Khan.