Three financial czars to be changed this month

ISLAMABAD: Ruling out the possibility of granting any extension in tenures of key positions at the Finance Ministry, FBR and NBP, the government has decided to make fresh appointments after getting approval of Prime Minister Nawaz Sharif before his departure to Davos for attending the annual meeting of the World Economic Forum (WEF), The News has learnt.

The prime minister is going to attend the annual meeting of WEF scheduled to be held at Davos from January 17 to 20, 2017. “Before his departure, the summaries for appointment of federal secretary finance and chairman FBR will be approved by the premier probably by the end of the next week,” talking to The News here on Thursday.

Federal Secretary Finance Dr Waqar Masood will be retiring from the service during January 2017 as he had served on key position during his career. It was honour for Dr Sahib that he managed to demonstrate success on completion of the last IMF programme.

Several contenders are in the race for this important slot including incumbent Secretary Economic Affairs Division (EAD) Tariq Bajwa, Federal Secretary for Commerce Azmat Ali Ranjha, Federal Secretary Ministry of Communication and Chairman NHA Shahid Tarar and representative of Pakistan into IMF’s Executive Board Shahid Mehmood who is currently posted at Washington DC, and Secretary Ministry of Water & Power Younas Dagha.

Another important post will fall vacant from January 19, 2017 as the incumbent Chairman FBR Nisar Mohammad Khan will be retiring on January 18 this month. 

New chairman may be a DMG officer or the one belonging to tax machinery. The name of Khawaja Tanvir, Dr Irshad, Rehmat Ullah Wazir and Safdar Ch belonging to IRS group are among contenders. 

Tariq Pasha, acting Secretary Statistics Division and close aide of Finance Minister Ishaq Dar was also named for this top position but he might not be spared by the finance minister at this crucial time when the government was going to complete its term in next one and half year period.

The tenure of President National Bank of Pakistan Syed Iqbal Ashraf will also end this month. Naeemuddin Khan, President Bank of Punjab and Saeed Ahmed Khan, Deputy Governor SBP, are among strong contenders for this slot and the second option will be advertising this post and then head hunting will be done to get the best from the market through open competition.