govt remove chairman of FBR and state bank

[Sine Nomine]

billions of $ been wasted for few thousands jobs and a big ego . with this money we can do too much more for nation . nationalization suck and those whom keeping it alive are pure stupids again . gov should not run any business let alone running loss making business . they got hard taxes and then give to these corrupt loss making white elephants

Aur mazey kee baat in corrupt idaroo mai aesey kai haramzadey hain jin ka apna business raat dugni aur din chugni taraqi kar raha hai.

 

[xyxmt]

Nope Iis Systematically being fully controlled by Army under the "planted" govt. of IK.
Welcome to Reality :

https://www.foreignaffairs.com/articles/pakistan/2018-07-27/pakistans-sham-election

I hope and I wish this is true, like China modal?
we want all the political parties eliminated from their roots.

 

[ziaulislam]

100% sir why only 60%

Current market value of these shares are in negative ..which kinda idiot will pay the money for pia brand only???

 

[Verve]

SBP guy was in with the mafia and played part in the market manipulation with exchange mafia.

FBR guy was incompetent and didn't have balls to go after the tax evaders and failed to root out the rotten apples in FBR.

 

[Mav3rick]

Excelleny Decision Both Of Them Were Favourite Officers Of Ishaq Dar and Shabaz SHarif

Tariq Bajwa Was No Doubt Wrecking Pakistan's Economy Just To Make PTI Look Bad

That makes so much sense, you must be an economics genius.......you can figure out what that makes you if you are wrong, right?

 

[Abdussamad]

If that is true he would have complained when PMLN was borrowing money form the central bank. The thing is simple he was appointed by PMLN and now IMF wants the central bank to be completely independent and this is the first step. Tariq Bajwa is a PMLN chamcha if you would have worked in banking you would have been aware of this.

Although I'm not in banking I was aware of it because it was mentioned on various news sites. But I didn't think this was the reason because PTI has been in power for many months now and if they wanted to do a purge they could have done it much earlier.

 

[Shahzaz ud din]

Dr Reza Baqir likely to become SBP governor
By
News Desk
-
May 4, 2019
0
601

• Dr Baqir is presently serving as IMF’s resident director for Egypt

Dr Reza Baqir has been cited by sources as the frontrunner to become the State Bank of Pakistan governor after Tariq Bajwa tendered his resignation from the high office of the central bank late Friday.

Dr Reza Baqir is presently serving as the International Monetary Fund’s resident director for Egypt.

Dr Baqir has also served as the IMF mission chief for Romania and Bulgaria and has worked at the IMF for over 16 years, besides working at the World Bank and other international monetary institutions.

According to a media report, names of Ashfaque Hassan Khan, Dr Waqar Masood and Dr Wajid Rana have also being tipped for the top slot of SBP.

“The matter has been at the consultation level while a final decision in this regard has not been made as yet,” said sources.

It is pertinent to mention that apart from SBP governor Tariq Bajwa, Federal Board of Revenue (FBR) chairman Dr Jahanzeb Khan had also tendered his resignation on Friday.

According to sources, the names of Dr Ahmed Mujtaba Memon, Javed Ghani and Fazal Yazdani Khan have been under consideration for the position of FBR chairman.

They said that unsatisfactory economic conditions triggered the recent changes.

It was learnt that Prime Minister Imran Khan was unhappy with the State Bank governor due to the continuous devaluation of Pak Rupee, while lack of reforms in the revenue board had also irked the prime minister.

Sources further revealed that the prime minister had earlier asked former finance minister Asad Umar to change the heads of SBP and FBR, but owing to the minister’s own resignation, the matter got delayed.

 

[Abdussamad]

It was learnt that Prime Minister Imran Khan was unhappy with the State Bank governor due to the continuous devaluation of Pak Rupee, while lack of reforms in the revenue board had also irked the prime minister.

So I was right. This has nothing to do with his political sympathies. It has to do with the government's belief in voodoo economics. What will IK do now that the IMF wants a free float of the rupee? No amount of changes at the SBP is going to stop the rupee's slide.

 

[valkyr_96]

Although I'm not in banking I was aware of it because it was mentioned on various news sites. But I didn't think this was the reason because PTI has been in power for many months now and if they wanted to do a purge they could have done it much earlier.

So I was right. This has nothing to do with his political sympathies. It has to do with the government's belief in voodoo economics. What will IK do now that the IMF wants a free float of the rupee? No amount of changes at the SBP is going to stop the rupee's slide.

You can see (if you have the free time) that I have said this many times before that he needed to be removed. I also believe that he was removed not because of his political sympathies and I hope not for the quoted reason of devaluation (Asad Umar would've explained this).

The SBP needs to be independent is setting up the monetary policy. It also needs to be instrumental in moving around money in the economy. As for the reason why he was given time, there is nothing wrong with the person, as a banker he knows how the state bank works. However, he would be incapable in dealing with crisis such as the one we are in.
Here is an interesting list for you compare Pakistan with its neighbours
https://en.wikipedia.org/wiki/List_of_countries_by_exchange_rate_regime#Floating

 

[Baghial]

https://videos.arynews.tv/governor-...xqvH5x20rGoQRjRvHwKHk7XtRuEGXe3KEJ4q2WsUu8WgE

looks like IMF hit man are taking over pakistan

 

[Shahzaz ud din]

Government Appoints New SBP Governor, FBR Chairman
By
admin
-
May 4, 2019

May 04, 2019 (MLN): The government has appointed Dr.Reza Baqir as Governor of State Bank of Pakistan.

According to a notification issued by the Finance Division, Dr.Baqir has been appointed for a period of three years from the date he assumes office.

The terms and conditions of his appointment will be notified later after approval of the President of Pakistan, said the circular.

According to sources, the Government has also appointed Dr.Ahmed Mujtaba Memon as Chairman of the Federal Board of Revenue; however, an official confirmation has not yet been released.

 

[pragmatic_dude]

I hope and I wish this is true, like China modal?
we want all the political parties eliminated from their roots.

Wbat if you get the "China" model but the party in charge is PMLN. Lolololo

 

[xyxmt]

Wbat if you get the "China" model but the party in charge is PMLN. Lolololo

PMLN and PPP has already gone in the history books. I see a best model is forming in coming years, apolitical party whose leadership is just as committed to Pakistan as our armed forces who are guiding the party regarding the activities of its workers and ministers and party (PTI) working with armed forces and security services unlike PPP and PMLN who took it as a insult and turned against army itself.

 

[shah_123]

SBP guy was in with the mafia and played part in the market manipulation with exchange mafia.

FBR guy was incompetent and didn't have balls to go after the tax evaders and failed to root out the rotten apples in FBR.

Mafias replaced by imf mafias ... I salute.the intellect of our PM donkey Raja

 

[War Thunder]

FBR PIA PAK STEEL RAILWAY ARE SOME UNFIX ABLE institutions even if someone fix them for few months they will go back to old track soon .

no thing is unfixable.
Everything can be made to work with the right mindset and effort.