Search

SBP Governor Reza Baqir's tenure ends as govt decides against extension

Web Desk 09:54 AM | 4 May, 2022
SBP Governor Reza Baqir's tenure ends as govt decides against extension
Source: File photo

ISLAMABAD – Dr Reza Baqir, who was appointed as State Bank of Pakistan’s (SBP) governor in 2019, will get no extension as his three-year tenure expires today (May 4).

Federal Finance Minister Miftah Ismail made the announcement on Tuesday while praising the noted economist.  PML-N leader mentioned that he has spoken to Reza and apprised him of the government’s decision.

“I want to thank Reza for his service to Pakistan. He is an exceptionally qualified man and we worked well during our brief time together. I wish him the very best,” it added.

The development comes days after it was reported that the incumbent government is not willing to reappoint Dr. Reza Baqir as governor of the central bank.

Meanwhile, the President of Pakistan will pick the Governor on the recommendation of the government as per the State Bank Act 2021.

Reports suggest that the Ministry of Finance had proposed the name of Noor Ahmad, Executive Director in the Asian Development Bank (ADB) for appointment as the next central bank governor while the other two names in the panel are Aurangzeb Khan, President of Habib Bank Limited, and a senior IMF official.

Web Desk
Web Desk

Daily Pakistan Global Web Desk

Advertisement

KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on January 28, 2023 (Saturday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 263.9 266.15
Euro EUR 275.75 278.5
UK Pound Sterling GBP 313 316
U.A.E Dirham AED 69.75 70.45
Saudi Riyal SAR 67.25 67.9
Australian Dollar AUD 178.5 180.9
Bahrain Dinar BHD 644.19 652.19
Canadian Dollar CAD 187.5 189.70
China Yuan CNY 35.71 36.11
Danish Krone DKK 35.38 35.78
Hong Kong Dollar HKD 30.94 31.29
Indian Rupee INR 2.97 3.08
Japanese Yen JPY 2.50 2.54
Kuwaiti Dinar KWD 793.10 802.15
Malaysian Ringgit MYR 57.02 57.62
New Zealand Dollar NZD 156.69 158.69
Norwegians Krone NOK 24.46 24.76
Omani Riyal OMR 629.39 637.39
Qatari Riyal ‎QAR 66.54 67.24
Singapore Dollar SGD 184.38 186.38
Swedish Korona SEK 25.31 23.81
Swiss Franc CHF 263.01 265.51
Thai Bhat THB 7.38 7.53

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs209,600 on Saturday. The price of 10 grams of 24k gold was recorded at Rs174,990.

Likewise, 10 grams of 22k gold were being traded for Rs157,300 while a single tola of 22-karat gold was being sold at Rs 178,500.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 209,600 PKR 2,220
Karachi PKR 209,600 PKR 2,220
Islamabad PKR 209,600 PKR 2,220
Peshawar PKR 209,600 PKR 2,220
Quetta PKR 209,600 PKR 2,220
Sialkot PKR 209,600 PKR 2,220
Attock PKR 209,600 PKR 2,220
Gujranwala PKR 209,600 PKR 2,220
Jehlum PKR 209,600 PKR 2,220
Multan PKR 209,600 PKR 2,220
Bahawalpur PKR 209,600 PKR 2,220
Gujrat PKR 209,600 PKR 2,220
Nawabshah PKR 209,600 PKR 2,220
Chakwal PKR 209,600 PKR 2,220
Hyderabad PKR 209,600 PKR 2,220
Nowshehra PKR 209,600 PKR 2,220
Sargodha PKR 209,600 PKR 2,220
Faisalabad PKR 209,600 PKR 2,220
Mirpur PKR 209,600 PKR 2,220

Advertisement

Follow us on Facebook

Follow us on Twitter

Sign up for Newsletter