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Bloomberg
Pakistan’s government removed the governor of the central bank and the head of the tax authority amid the nation’s bailout negotiations with the International Monetary Fund.
Tariq Bajwa, chief of the State Bank of Pakistan, and Federal Board of Revenue Chairman Mohammad Jehanzeb Khan were fired because of their “performance,†Firdous Ashiq Awan, a special assistant to Prime Minister Imran Khan said by phone on Saturday. The removal of the two comes weeks after Finance Minister Asad Umar was asked to resign.
Former cricket star Khan faces growing criticism from economists and opposition parties for mishandling the economy and delaying the IMF bailout since coming to power in August in a controversial national election. While Khan has secured loans from friendly nations, the economy continued to falter amid balance-of-payments crisis and a depleted treasury.
Khan appointed Abdul Hafeez Shaikh as his finance adviser two weeks ago after forcing the then finance minister Umar to resign in a cabinet reshuffle. Shaikh is now leading a team that is negotiating the 13th IMF support program since the 1980s. While the talks with the IMF stalled twice in the past over various disagreements, such as the exchange rate policy, Shaikh said he wants to develop a “reasonable†IMF plan.
It seems Shaikh “wants like-minded people in his team to implement the IMF-led reform process,†Mohammed Sohail, chief executive of Topline Securities Pakistan Ltd., said from Karachi.