Federal Minister for Finance and Revenue Miftah Ismail on Tuesday hinted at replacing SBP Governor Dr Reza Baqir as his three-year term will expire on May 4.
Taking to Twitter, the finance minister revealed that SBP chief Dr Reza Baqir’s term will expire tomorrow, adding that he had spoken to Baqir and told him about the decision.
“I have spoken to Reza Baqir and told him of the government’s decision,” he wrote, acknowledging his efforts during these three years.
Who is Reza Baqir?
Reza Baqir is a Pakistani economist who is the 20th and current Governor of the State Bank of Pakistan, a position he held since 2019.
Reza Baqir was born to a Punjabi family in Vehari. His father Chaudhary Sharif Baqir was a very well known Barrister of Law and joined the PPP in 1988 and ran for the seat of National Assembly. Baqir received his early education from Aitchison College, Lahore. He graduated from Harvard University magna cum laude, and later obtained a PhD in economics at the University of California, Berkeley.
President Arif Alvi on May 5 2019, appointed Baqir as the governor for a period of three years in pursuance of Section 10(3) of the State Bank of Pakistan Act 1956. Prior to this appointment, Dr Reza Baqir had 18 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 also held positions as IMF Mission Chief for Romania and Bulgaria, Division Chief of the IMF’s Debt Policy Division, Head of the IMF delegation to the Paris Club, Deputy Division Chief of the IMF’s Emerging Markets Division, IMF Resident Representative to the Philippines, and numerous other positions.
