ISLAMABAD - The federal government on Saturday appointed Dr Reza Baqir as Governor State Bank of Pakistan (SBP) for a period of three years.

Former Governor SBP Tariq Bajwa on Friday stepped down from his position after federal government asked him to resign. The government has appointed Dr Baqir as Governor SBP for next three years. Baqir is a Pakistani by birth and currently serving as the senior resident representative of the IMF in Egypt.  Baqir has remained the IMF’s head of mission to Romania and is working with the global lender since 2000 when he was the head of its debt policy division. His resume includes graduating from Harvard University; a PhD in economics from the University of California, Berkeley; and working with the World Bank, the Massachusetts Institute of Technology and the Union Bank of Switzerland. Sources said that government is also considering few names for the post of Chairman FBR. The government may appoint Dr Ahmad Mujtaba, Additional Secretary Finance and member customs policy Javaid Ghani for the post of Chairman FBR.