IMF man to head State Bank of Pakistan

[maximuswarrior]

See I have set standards very high, if you think that chur changars like nawaz/zardari/fazal/imran etc., are my leaders, you are seriously mistaken.

Okay he didn't put Pakistan into the position where we are right now, but he could have made right decisions --- installing an incompetent person over the people of biggest province of Pakistan and he is still not ready not rectify his blunder, so why blame us?

The corrupt setup (bureaucracy/govt institutes) is the main problem --- Instead of going after this rotten setup, he went after people's wealth like hungry dogs jump on the food, this was his biggest blunder. ----- He should have kept Awaam on his side, but he turned out to be just another politician.

And look at his team, I mean a mirasi like ch Fawad is running the affairs of science and technology ---- He had outsourced economy to outsiders ------- Why blame us ???

I also have high standards and believe me I fully support your views. However, I learnt something in life. Perfectionism doesn’t work in real life and I have experienced this first hand. You have to make compromises and even deal with the devil at times.

Now we can criticize IK for his selection etc. and by all means feel free to do so. However, a lot of other things are not his doing. The economy is one such very important thing.

If we compare Imran Khan’s team to Nawaz Sharif’s or Zardari’s teams there is a day and night difference. Probably not ideal and perfect, but still better. In fact much better.

 

[Pakistani Fighter]

IMF man to head State Bank of Pakistan

BY STAFF REPORT , (LAST UPDATED 10 SECONDS AGO)

–IMF’s resident director for Egypt Dr Reza Baqir appointed as governor of central bank for three years

–Dr Ahmed Mujtaba Memon, Javed Ghani being considered for position of FBR chairman


ISLAMABAD: The Finance Ministry has appointed Dr Reza Baqir – a Pakistani economist working for the International Monetary Fund (IMF) – as the governor of the central bank for three years, as the Pakistan Tehreek-e-Insaf (PTI) government seeks to finalise a bailout package from the global lender.


A Harvard and Berkeley university alumnus, Dr Baqir has been with the IMF since 2000 and was serving as the Fund’s senior resident representative in Egypt. He has previously served as the head of the IMF Mission for Romania, and as Head of the Fund’s Debt Policy Division. He has also worked with the World Bank, the Massachusetts Institute of Technology (MIT) and the Union Bank of Switzerland.


The notification for Dr Baqir’s appointment was issued late on Friday night.

Both the new head of the SBP and Adviser to the PM on Finance Dr Abdul Hafeez Shaikh are from the Bretton Woods institutions — the World Bank and the IMF. Dr Shaikh has also worked with the World Bank.


Informed sources said that the decision to remove the heads of two important economic policy-making institutions — SBP and the Federal Board of Revenue (FBR) — was taken after Dr Shaikh expressed the desire to bring his own team.

The departures of former governor SBP Tariq Bajwa and FBR chairman Jahanzeb Khan come only weeks after Finance Minister Asad Umar was asked to step down amid vital bailout negotiations with the IMF, suggesting the government wanted to overhaul its financial team amid weakening growth rates and soaring inflation.

Sources further said that consultations were still underway over candidates for the post of the FBR chairman. The names of Dr Ahmed Mujtaba Memon, who is currently an additional secretary in the Finance Division, and Javed Ghani, member Customs policy, were being considered for the role of the FBR chairman, sources said.

It was learnt that Prime Minister Imran Khan was unhappy with the former SBP governor due to the continuous devaluation of Pakistani Rupee. However, the prime minister does not have the powers to remove the governor of the central bank except in certain circumstances that are defined in the SBP Act of 1956.

Bajwa was holding a statutory position for a period of three years that would have ended on July 6, 2020.

There had been resentment in the federal cabinet over the decision to continue with the people who had served with former finance minister Ishaq Dar.

The PML-N government appointed Tariq Bajwa as the SBP governor on July 7, 2017. The SBP Act of 1956 empowers the president of Pakistan to appoint a governor for a term of three years.

Bajwa retired from civil service in June 2017 as the finance secretary and was the third bureaucrat to be appointed as the head of the central bank. He is the only Pakistani to have won the prestigious Littauer Fellowship. He earned the reputation of being a competent and upright officer during his civil service career. He was among a handful of officers whose reputation remained clean despite serving as the FBR chairman for two and a half years.

The new SBP governor will face the immediate challenge of negotiating a bailout package with his previous employer and implement its conditions on the monetary policy and exchange rates.

https://www.pakistantoday.com.pk/2019/05/04/dr-reza-baqir-likely-to-become-sbp-governor-sources/

China setting up its Military Base, Americans building Towers and Firing Range in thier embassies and now IMF man as Governor State Bank of Pakistan.
Niazi has sold us out

 

[maximuswarrior]

China setting up its Military Base, Americans building Towers and Firing Range in thier embassies and now IMF man as Governor State Bank of Pakistan.
Niazi has sold us out

How is China building a military base a bad thing? Stop believing in American and Indian propaganda. You know very well that CPEC requires a security component. Stop maligning our ally China. China won’t drop bombs on Pakistan. They are here to invest and on a win win basis.

 

[God Parshuram]

Okay. Break is over for you - go back to your rickshaw pulling.

Your have great prediction ability like your breathers. I appreciate it.

 

[Crusher]

See I have set standards very high, if you think that chur changars like nawaz/zardari/fazal/imran etc., are my leaders, you are seriously mistaken.

...............................

I like it, that is also my mindset, I don't consider any politician, bureaucrat or general in pakistan as "leader", After Gen. Zia death we only got midgets, unintelligent stupids, liars and cowards in all power circles of pakistan. If we had a leader in the last 31 years after 1988 then we wouldn't have 80,000 deaths in terrorist related events. The midgets in power circles of pakistan have been only undoing pakistan's achievements of pre-1988.

 

[Arsalan 345]

imf man for head state bank of pakistan? he will provide details about chinese investment in pakistan.wow what a decision lol.

 

[Taimoor Khan]

So let me get it straight.

The government/establishment haven't been able to bring back a single penny of looted money which runs into billions of dollars, and now for few billions from IMF, they are practically handing over the country economy to the economic hitmen of the west?

 

[El Sidd]

So let me get it straight.

The government/establishment haven't been able to bring back a single penny of looted money which runs into billions of dollars, and now for few billions from IMF, they are practically handing over the country economy to the economic hitmen of the west?

I want to ask you a question. My stays are getting shorter and shorter here so i will go straight to the point.

With IMF installed. FATF is next as Indo-Iranian interests lie in having us black listed.

What is the counter to this for Pakistan.

Thanks.

 

[Crusher]

So let me get it straight.

The government/establishment haven't been able to bring back a single penny of looted money which runs into billions of dollars, and now for few billions from IMF, they are practically handing over the country economy to the economic hitmen of the west?

Clearly it is self-made lie for public consumption that 200 billion dollars black money of pakistan is parked outside of pakistan, only a stupid idiot will believe it when the whole pakistan economy is worth 280 billion dollars only.

I am sure as we say in punjabi kay bund tak vi zor la layn na even then also they will not be able to bring even 200 million dollars (not billions) from outside, no western country would let outflow of billions of dollars money from their country in the name of repatriation of black money to pakistan. This government/establishment has just set the wrong priorities for themselves. They should be working on creating wealth rather than on bringing back some imaginary looted wealth parked outside of pakistan.

 

[ejaz007]

Finance Minister from WB.

Governor SBP from IMF.

There goes your national interest.

 

[LeGenD]

Good joke.
Decisions like appointing a lazy man Usman Buzdar on the people of biggest province of Pakistan, handing over economy to imf.

Why don't he handover his own position to someone from Scandinavian?

This man has always been filled with ego right from his playing days, he never admits his failures and blunders.

You lightened my mood, bro.

In these trying times, sense of humor is welcome.

 

[Taimoor Khan]

I want to ask you a question. My stays are getting shorter and shorter here so i will go straight to the point.

With IMF installed. FATF is next as Indo-Iranian interests lie in having us black listed.

What is the counter to this for Pakistan.

Thanks.

Saudi model or Chinese.

Let me remind you, it was Ishaq Dar on the floor of the house mentioned 200 billion is parked outside. Even if quarter of it is looted money, dont need to be a rocket scientist to know where the priority should be. IMF or to bring back the looted money? If Saudis can recover 100 billions in just matter of months, here we have a setup which is in power for months now and absolutely no progress is made.

I do have serious concerns and take both this issues connected with each other (IMF and zero progress in recovering lotted money).

Alarms bells are ringing.

 

[313ghazi]

Guys can someone explain to me please. Is this man employed by GoP and IMF at the same time? If so surely we have laws against conflict of interest?

 

[Taimoor Khan]

Clearly it is self-made lie for public consumption that 200 billion dollars black money of pakistan is parked outside of pakistan, only a stupid idiot will believe it when the whole pakistan economy is worth 280 billion dollars only.

I am sure as we say in punjabi kay bund tak vi zor la layn na even then also they will not be able to bring even 200 million dollars (not billions) from outside, no western country would let outflow of billions of dollars money from their country in the name of repatriation of black money to pakistan. This government/establishment has just set the wrong priorities for themselves. They should be working on creating wealth rather than on bringing back some imaginary looted wealth parked outside of pakistan.

You are argue with numbers and even ignore Ishaq Dar statement about 200 billion dollars parked outside on the floor of the parliament, but to say the no black money is stashed outside, is a stupidity of highest order.

 

[Enigma SIG]

Incompetents have no business to run the affairs of our country. ---- khadim-e-aala was many times better than this posti Usman Buzdar.

When you have morons like Usman Buzdar, public will definitely look back -- He was supposed to perform better. This guy is kinda relative of Mamnoon Hussain and Qaim Ali Shah.

You don't need one man to run a huge province; you build institutions under them to do the job.
The faster Noonies and Peepees figure this out; the better for the country.