KARACHI: Dr. Murtaza Syed, most senior deputy governor of the State Bank of Pakistan (SBP), has taken over the charge as governor of the central bank.
Dr. Murtaza Syed takes over the charge after Dr. Reza Baqir completed his three-year tenure as the governor of the SBP.
“As the term of Governor SBP Dr. Reza Baqir has come to an end, as per law, the senior most deputy governor takes over until,” Finance Minister Miftah Ismail said in a Tweet.
“Therefore, Dr. Murtaza Syed, an eminently qualified economist with rich IMF experience, will take over as Governor SBP,” he added.
Dr. Raza Baqir, who completed his tenure on May 04, 2022, said in a statement: “I completed my 3 years as Governor of our central bank. Allah has been kind to give me the chance to serve my country in public office. To other fellow Pakistanis, especially overseas, I encourage you to consider public service.”
Baqir said during his tenure he initiated many measures to counter the adverse impact of COVID-19. “SBP’s COVID response package and many new facilities for the first time in SBP history, which included TERF, Rozgar payroll loans, hospital financing etc.