Finance Ministry initiates process for NBP President’s appointment
The Ministry of Finance has taken a significant step by moving a
summary for the appointment of the president of the National Bank of Pakistan
(NBP) for a three-year term.
The summary presented three names for consideration, with Rehmat
Ali Hasnie proposed as the principal candidate, Muhammad Abdullah Ahmed as first
alternative, and Mudassir Husain Khan as second alternative for the top
position in NBP.
The Ministry of Finance's summary outlined that the president of
the National Bank of Pakistan is appointed by the federal government in
consultation with the State Bank of Pakistan for a term of three years, as
specified under Section 11(3)(a) of the Banks (Nationalization) Act, 1974.
The position of NBP president was advertised in national dailies
on February 09, 2023, resulting in the receipt of 105 applications by the
closing date, February 24, 2023. The shortlisting committee, led by the finance
secretary, scrutinized the applications and shortlisted 45 eligible candidates
along with their CVs. The State Bank of Pakistan reviewed and cleared 15
candidates, who are professional bankers.
On June 2, 2023, the shortlisting committee awarded marks to the
candidates based on their qualifications and experience. The selection
committee subsequently convened on July 08, 2023, to interview the 15
candidates cleared by the SBP. However, two committee members, Dr. Aisha Ghaus
Pasha, Minister of State for Finance and Revenue, and Tariq Bajwa, SAPM (F)/
Domain Expert, did not attend the meeting.
Out of the 15 candidates, 11 participated in the interviews,
with six appearing in person and five joining via Zoom video link. The
selection committee evaluated the candidates based on their professional
knowledge, expertise, leadership qualities, communication skills, and aptitude
for the job. Consequently, the committee unanimously recommended a panel of
three candidates in order of merit for appointment to the position of president/CEO.
Source: The News