Pakistani governor steps down as term expires

state-bank-of-pakistan-sbp
The State Bank of Pakistan
Photo: SBP/Abbas Ali Khan

Reza Baqir has stepped down as governor of the State Bank of Pakistan (SBP), after the government declined to renew his three-year term.

The government has not yet appointed a permanent replacement. Finance minister Miftah Ismail said in a tweet that, by law, the most senior deputy governor will stand in as governor.

“Therefore Dr Murtaza Syed, an eminently qualified economist with rich IMF experience, will take over as governor SBP,” Ismail said. “I wish him the best in his new role.”

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