Ishaq Dar accepts SBP chief Yaseen Anwar's resignation

ISLAMABAD: Minister for Finance Ishaq Dar has accepted the resignation of Governor State Bank of Pakistan (SBP) Yaseen Anwar, Geo News reported.

An official notification issued here confirmed Anwar’s resignation takes effect from January 31, 2014.

“Anwar had tendered his resignation a while ago and Minister for Finance will relieve him soon”, a top government official said.
Sources said Finance Minister Ishaq Dar was not comfortable with the outgoing governor of the central bank.

According to one of the close aides of the finance minister the finance minister was solely fighting on fiscal as well as monetary front of the economy.

A weak governor had failed in controlling the rising inflation and protecting the dwindling foreign exchange reserves.

During the tenure of the PPP led regime, it was the governor of central bank who had advised the then government not to go to the IMF that led to depletion of reserves, a heavy price.

But the governor had always defended his stance by saying that no crisis had erupted as many economists had argued at that time.

The governor was also not happy with the recent appointments in the central bank. A deputy governor had recently been appointed. However, a highly placed official close to the governor rejected the report of the resignation.