Pakistan\u2019s government removed the governor of the central bank and the head of the tax authority amid the nation\u2019s bailout negotiations with the International Monetary Fund.<\/p>\n\n\n\n
Tariq Bajwa, chief of the State Bank\n of Pakistan, and Federal Board of Revenue Chairman Mohammad Jehanzeb \nKhan were fired because of their \u201cperformance,\u201d Firdous Ashiq Awan, a \nspecial assistant to Prime Minister Imran Khan said by phone on \nSaturday. The removal of the two comes weeks after Finance Minister Asad\n Umar was asked to resign.<\/p>\n\n\n\n
Former cricket star Khan faces growing\n criticism from economists and opposition parties for mishandling the \neconomy and delaying the IMF bailout since coming to power in August in a\n controversial national election. While Khan has secured loans from \nfriendly nations such as Saudi Arabia, the United Arab Emirates and \nChina to help boost foreign reserves, the economy continued to falter \namid balance-of-payments crisis and a depleted treasury.<\/p>\n\n\n\n
Khan \nappointed Abdul Hafeez Shaikh as his finance adviser two weeks ago after\n forcing the then finance minister Umar to resign in a cabinet \nreshuffle. Shaikh is now leading a team that is negotiating the 13th IMF\n support program since the 1980s. While the talks with the IMF stalled \ntwice in the past over various disagreements, such as the exchange rate \npolicy, Shaikh said Friday he wants to develop a \u201creasonable\u201d IMF plan.<\/p>\n\n\n\n
It\n seems Shaikh \u201cwants like-minded people in his team to implement the \nIMF-led reform process,\u201d Mohammed Sohail, chief executive of Topline \nSecurities Pakistan Ltd., said from Karachi. \u201cYou need to take bitter \npills like increasing taxes, energy prices and privatization. These \nthings haven\u2019t been done yet. They are the toughest ones and need a \nstrong will and bold measures.\u201d<\/p>\n\n\n\n
Awan said the Prime Minister will\n choose from three people proposed by the finance ministry for the \ngovernor\u2019s position by Monday, while Shaikh will appoint the tax chief. \nState Bank of Pakistan\u2019s Bajwa said he was in Islamabad for talks with \nthe visiting IMF team.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Pakistan\u2019s government removed the governor of the central bank and the head of the tax authority amid the nation\u2019s 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 \u201cperformance,\u201d Firdous Ashiq Awan, a special […]<\/p>\n","protected":false},"author":1,"featured_media":60672,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-60671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/60671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=60671"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/60671\/revisions"}],"predecessor-version":[{"id":60673,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/60671\/revisions\/60673"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/60672"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=60671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=60671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=60671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}