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Dr Murtaza assumes charge as acting SBP governor 

Dr Murtaza Syed made acting SBP governor as govt denies extension to Reza Baqir

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Dr Murtaza assumes charge as acting SBP governor 
GNN Media: Representational Photo

Karachi: The federal government has decided to appoint Murtaza Syed as acting Governor of the State Bank of Pakistan (SBP) after Reza Baqir’s three years tenure expired earlier this week. 

Dr Murtaza Syed, Deputy Governor of the SBP, has taken over as acting Governor of the central bank till the appointment of a full-fledged governor. 

According to the SBP Act, at any time when the office of governor is vacant or the governor is incapacitated, the senior most deputy governor shall be the acting governor, until the governor is appointed.

The three-year term of Dr Reza Baqir, Governor SBP expired on May 4 and the federal government decided not to reappoint him for another tenure—which is five-year after the amendment to SBP Act in 2021. 

Dr Reza Baqir issued his statement on social media after completing his tenure. 

“I am confident and hopeful that we as a country will make the right choices to overcome the challenges ahead of us,” the former Governor State Bank tweeted.

As per a brief profile issued by the bank, Dr Syed has a PhD in economics from the Nuffield College at the University of Oxford. 

Dr Syed also published papers on a variety of macroeconomic issues, including fiscal and monetary policy, financial stability, economic crises, investment, demographics, poverty and inequality.  

He also worked for a London-based public policy think tank, the Institute for Fiscal Studies (IFS), where he researched business investment and employment behavior. 

Moreover, he went on to work at the International Monetary Fund (IMF) for around 16 years and had been involved in IMF programs and surveillance of emerging markets and advanced economies, including the Euro-area, Japan, and South Korea. 

After accumulating over two decades of experience in macroeconomic research and policy making, he joined the SBP. 

In the meantime, authorities in the finance ministry informed that the government is considering several names for the slot of SBP Governor. 

Mehak Javed

Mehak Javed is immensely creative and an enthusiastic journalist, contributing in the publication of timely and accurate news. She is a skilled writer along proven history of achievement in the field with several years of professional experience. Mehak is working with GNN since 2020.

Regional

Punjab govt notifies summer vacations for schools from June 1

The Punjab School Education department announces two-month vacations

Published by Faisal Ali Ghumman

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Punjab govt notifies summer vacations for schools from June 1

Lahore: The Punjab government issued notification of summer vacations for school kids on Thursday.

All state and private schools will observe a two-month summer vacation from the beginning of next month.

The vacataions for private and public schools will begin on June 1 and continue till July 31, the Punjab School Education Department said in the notification.

The notication has also advised private schools to spare students at 11am from May 27 to May 31 in the wake of ongoing heatwave.

Similarly, summer vacation in all public and private educational institutions in Sindh will be observed from June 1 to July 31.

Public and private educational institutes in Balochistan's summer zone districts are observing summer vacation from May 15 to July 31.

In Khyber Pakhthunkhwa, summer vacation in the summer zone would be observed from June 1 to August 14 and in the winter zone from July 1 to July 31.

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Pakistan

Will not bow before Imran’s dictation: PM Shehbaz Sharif

"If the PTI was merely concerned about the election, they should have come to the parliament."

Published by Siddra Sumreen

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Will not bow before Imran’s dictation: PM Shehbaz Sharif

Islamabad: Prime Minister Shehbaz Sharif Thursday vowed not to bow before the dictations of ex-Prime Minister Imran Khan and made it clear that the National Assembly would, not anyone else, would decide the timing of the election.

“I want to make it clear to the head of this gang that none of his dictation will be accepted. This House will decide when to hold fair election,” the prime minister said addressing the National Assembly hours after Pakistan Tehreek-e-Insaf Chairman Imran Khan ended his long march here, giving the government a six-day deadline to announce a fresh election.

The prime minister said if the PTI was merely concerned about the election, they should have come to the parliament.

“Imran Niazi should not have any misunderstanding. There are 14 months (to complete the parliament’s term). We are open to talks. Dialogue is the trait of politicians. I can constitute a committee. But, if you think you will pressurize, blackmail or threaten us to leave the government, keep in mind, we will not bow before your pressure or dictation,” he reiterated.  

He accepted that the country was faced with numerous challenges but the coalition government would try its utmost to steer the country out of the issues it had inherited from the previous government.

Lamenting the riots and destruction caused by the participants of the PTI long march, the prime minister said the House should choose between the course of development or destruction.

Drawing a comparison between the economic growth of the two neighboring countries, he said in 1990s India copied Pakistan’s economic strategy and excelled with its IT exports touching $200 billion against $1.5 billion of Pakistan.

He said the protestors who also carried weapons to bring to the federal capital, also damaged infrastructure here and burnt down the trees despite the party claiming to be the champion of 10 Billion Tree Tsunami.

He also condemned the killing of a police constable in Lahore, sympathized with the grieved family and also announced an assistance package for the policemen who were martyred or injured in the line of their duty.

He said instead of showing some compassion to the widow or orphaned children of the martyred police constable, the PTI leader taunted him.

Calling it a 126-day theatre, the prime minister said the PTI’s sit-in in 2014 had not only impacted the national economy but also claimed the lives of the security personnel.

He told the House that the law enforcement agencies showed maximum restraint to control the situation only by using teargas or rubber bullet. The government also called in the army troops to aid the civilian setup, he added.

He also lauded the performance of the Islamabad Police, Rangers, FC, Islamabad Traffic Police and other departments concerned to protect the lives and properties of the people.

The prime minister said the PTI long march, which was led by Imran Khan from Peshawar and accompanied by KPK chief minister, was in fact an attack at the federation which could not be allowed in any civilized society.

The prime minister said after the nation sacrificed thousands of lives and left many others disabled, the slogan of jihad was raised in Peshawar by the PTI.

“Today, the slogans of jihad were raised in Peshawar. Jihad against whom? The nation needs an answer. They used the religion for personal gains which the House should condemn through a resolution to avert the recurrence of such incidents” he commented.

He said despite the dearth of resources, the previous government reduced the oil prices, leaving behind a “landmine” for the incumbent government.   

The prime minister said during the last three and half years, the PTI leadership did nothing to support the poor, closed PKLI, and ended free medical treatment of hepatitis patients.  

“Does it require any more evidence to believe that he is an enemy of Pakistan,” he remarked.

The prime minister also questioned the PTI leader as to why he announced a long march on May 25 despite knowing that it coincided with the sentencing of Kashmiri leader Yasin Malik by an Indian court.

He said the House was unanimous to condemn the sentence to Yasin Malik and shared the grief of his family, besides reiterating Pakistan’s stance to continue supporting the people of Kashmir for their right to self-determination.

He recalled the PTI’s sit-in of 2014 when the institutions including Pakistan Television was attacked and caused the postponement of Chinese President Xi Jinping which also delayed the signing of the China Pakistan Economic Corridor for seven months.

He said the Chinese firm executing Karot Hydropower project had agreed to provide free electricity to the national grid till the finalization of the Commercial Operations Date which would save Rs4 billion to the national kitty.

He said the previous government wasted three and half years in mere attacking the national institutions including the judiciary and hurling allegations ignoring the sufferings of the people.

“How long this drama will continue? How long this disturbed nation will tolerate it,” he questioned adding the country could not afford the history of the 2014 sit-in to be repeated.

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Pakistan

Riots in Islamabad: Police register cases against PTI leaders including Imran Khan, Asad Umar

Riots in Islamabad: Police register cases against PTI leaders including Imran Khan, Asad Umar

Published by Faisal Ali Ghumman

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Riots in Islamabad: Police register cases against PTI leaders including Imran Khan, Asad Umar

Islamabad: The Islamabad police Thursday booked senior PTI leaders including chairman Imran Khan in a case for the riots that ocurred in the federal capital during the “Azadi March” on Wednesday.

Police also registered cases against PTI leaders Asad Umar, Imran Ismail, Raja Khurram Nawaz, Ali Amin Gandapur, and Ali Nawaz Awan.

The police registered two separate cases at the Kohsar Police Station for "rioting and arson".

The first FIR was registered at the complaint of a sub-inspector (SI) named Asif Raza, while the second one was filed on behalf of SI Ghulam Sarwar. 

The cases have been registered against 150 people out of which 39 have been arrested. They also mention the burning of the metro bus stations at Islamabad's Jinnah Avenue, damaging a government vehicle at the Express Chowk, and breaking the glass windows of Geo News and Jang office. 

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