Miftah Ismail, Ishaq Dar come face-to-face on SBP governor’s appointment

Finance Minister Miftah Ismail and ex-finance minister Ishaq Dar have come face-to-face on the appointment of the State Bank of Pakistan (SBP) governor as they suggested different names for the position.

The federal cabinet failed to finalise the name for the appointment on SBP governor’s slot due to the conflict between Miftah Ismail and Ishaq Dar.

Ismail was insisting to appoint a former official of the International Monetary Fund (IMF) Asim Hussain, whereas, Dar urged to appoint Zafar Masud, the President of the Bank of Punjab as the SBP governor.

The conflict has intensified in the federal cabinet meeting held under the chair of Prime Minister Shehbaz Sharif yesterday with the appointment of the SBP governor in the agenda items.

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Following the conflict of opinions between two senior leaders of the ruling Pakistan Muslim League Nawaz (PML-N) the federal cabinet dropped the summary from the agenda items.

A few days ago, the finance ministry forwarded a summary to PM Sharif for the SBP governor’s selection for a term of five years. The premier had constituted a ministerial committee for recommending the names.

The shortlisted names for the SBP governorship included the former IMF official Asim Hussain, Bank of Punjab President Zafar Masud, National Bank of Pakistan Ex-President Saeed Ahmed and Acting Governor SBP Syed Murtaza, whereas, SBP Deputy Governor Mohammad Jamil and former SBP Governor Ashraf Khan were considered as the potential candidates for the top position of the central bank.

Moreover, the coalition government’s ally, Pakistan Peoples Party Parliamentarians (PPPP) also recommended the names of Ashraf Khan and Zafar Masud.