Bar on Dual Nationals a Hindrance in Appointment of SBP Governor: Miftah

Finance Minister Miftah Ismail Saturday said that the bar on the appointment of dual nationals as the State Bank of Pakistan (SBP) Governor has delayed the appointment to the key post. The finance minister, who was speaking on Dunya News program Aaj Kamran Khan Kay Sath, said that he has offered the position of the governor to four to five individuals but all of them rejected the opportunity. The minister explained that most top bankers suitable for the post usually have dual nationality which means that they cannot be appointed due to the bar on the appointment of dual nationals. The minister also expressed his reservation regarding the bar on those over the age of 65 years from holding the office of the governor. However, without giving any particular time frame, the minister said that the appointment will be made soon. Under the State Bank of Pakistan Act, 1956 a dual national cannot be appointed as the SBP Governor. Similarly, under the Act, no person can hold the office of the governor or deputy governor after attaining the age of sixty-five years. It is pertinent to mention here that after the three-year term of Dr. Reza Baqir as the central bank governor expired on May 4, Dr. Murtaza Syed, the senior-most deputy governor of the central bank, assumed the office as acting governor.