Tariq Bajwa says left SBP to avoid conflict with govt
31
KARACHI: Tariq Bajwa, the outgoing governor of the State Bank of Pakistan (SBP), has said that he has resigned from the office to avoid confrontation with the government.
Mr Bajwa was replying to a question on a private news channel on Saturday night that as to why he quit his office before completing his three-year term. He said a confrontation between the government and the central bank was not in the interest of the country. “So, I preferred to tender my resignation instead of approaching courts,” he added.
Mr Bajwa said that the country’s interests were more important than his job. He said he would go to the office on Monday and return after relinquishing the charge.
On Friday evening, Mr Bajwa was asked to resign while he was in Islamabad for talks with the International Monetary Fund.
Published in Dawn, May 5th, 2019
Read more
On DawnNews
Comments (31) Closed
May 05, 2019 10:04am
Graceful conduct. The same cannot be said of the Government.
Recommend
0
May 05, 2019 10:08am
Premier has given him chance but it look like he fails the opportunity therefore no need to stir any contraversey.
Recommend
0
May 05, 2019 10:37am
Only for number scoring and maligning incumbent government. What were his major contributions when he was in office? He knew that Pakistan suffered from cost cost pushed inflation and high government borrowing but kept on increasing interest rate. His act can be termed imprudent, if he was sincerer to Pakistan, why did't he abstained from increasing interest rate? May be because IMF pressure!
Recommend
0
May 05, 2019 10:42am
Bureaucrat turned Governor - now gone - the nation lives in hope - the economist who will take charge hopefully will bring some much needed stability - the Rupee, exchange rate and interest rates do need proper attention.
Recommend
0
May 05, 2019 10:57am
He was the one who helped Dar to hide details of Pakistanis accounts in Switzerland by sitting on the report for years and transferring two bank employees who wrote the report. His assets should be checked as he was one of the favourite Sharifs .
Recommend
0
May 05, 2019 11:00am
What a great timings for ouster of the people when negotionating With IMF. Long live PMIk of Naya Palistan
Recommend
0
May 05, 2019 11:26am
How come 'suddenly' conflict of interest began after nine months?
Recommend
0
May 05, 2019 11:30am
Sorry Mr.Tariq Bajwa, you are civil servant, you are PML N worker, your tenure in Punjab, you help them, and this is granted post to you as a reward in SBP, where US$ 200 millions Switzerland scandel ? this job SBP job was not for you, you are well aware about US$ rate ? this job is not for you qualification, this job need MBA, from world renewed university. We thanks for your leaving, there are no remittance and country economy are in bad shape. You and FBR chairman are both nonqualified for these job, poor praying for you both gone.
Recommend
0
May 05, 2019 11:30am
Few of the worse action he took was:
1: Not persuing Swiss offer of getting money from corrupts keeping in Switzerland. Well, he did not even try, rather created hindrance.
2: Devaluation of rupee. He should have told govt to increase tarrifs many fold on certain imports and ban some, to curb imports. Also, to give incentives to exporters instead of rupee devaluation.
3: Increasindg interest rate was also bad decision.
There was perception that instead of Pakistan, he was working for PMLN to make present govt unsuccessful and get maligned.
Recommend
0
May 05, 2019 11:38am
What is actually happening, behind the scenes, nobody knows.
Recommend
0
May 05, 2019 11:40am
We don't know the real story from both sides therefore it's fruitless to comment, however no one is asked to step down if things are moving competently unless someone is strongly refuting which is against the remaining members who are benefiting personally....
Recommend
0
May 05, 2019 12:24pm
He was pmln appointee anyways. Should had resigned on July 25 itself.
Recommend
0
May 05, 2019 12:30pm
A sensible person.
Recommend
0
May 05, 2019 12:31pm
@Tariq, really? do you think the premier had given him chance?
Recommend
0
May 05, 2019 12:32pm
As soon as IMF talks were over the State Bank head removed apparently on his resistance to make PKR float freely and increase further discount rate. Niow IMF employee will run state Bank on the wishes of IMF. This is the extreme slavery the Pakistan has been put into. Now FBR head will also be appointed by IMF to apply more taxes on salaries class and others that will wreck havoc on commoners like us. What ahs happened to Pakistan? Which direction it has adopted.
Recommend
0
May 05, 2019 12:33pm
Its shame that good people who resisted pressure on common people by disallowing the free float of PKR are being removed and instead the iMF employee are being installed. FBR is next in line apparently the fBr chief also resisted the application of further taxes so IMF employee will now happily apply the taxes and burden us. How low we can get.
Recommend
0
May 05, 2019 12:50pm
He should now be investigated for not pursuing 200 billion dollars stash in Switzerland when the Swiss were willing to cooperate.
Recommend
0
May 05, 2019 01:02pm
Those who know Tariq Bajwa well know that his appointment as SBP Governor was never on merit in the first place. This man should be ashamed of himself
Recommend
0
May 05, 2019 01:04pm
He resigned because the decisions taken for IMF loans were not in favour of general public. He felt he would do injustice to common man by taking such steps which will affect common man. Good gesture.
Recommend
0
May 05, 2019 01:23pm
Respect.
Recommend
0
May 05, 2019 01:36pm
@Kamran, Government is doing what's in interest of the country. They are trying to get us out of a mess left by previous governments. Be greatful.
Recommend
0
May 05, 2019 02:00pm
Good to hear People hv grace and concern for country. Side by side govt should work on tax reforms rather stress on Borrowing on International donors terms.
Recommend
0
May 05, 2019 03:08pm
@Islamabad Morning, This is how naya Pakistan must work.
Recommend
0
May 05, 2019 04:11pm
Is Mr. Bajwa an economist? Nothing against him; in fact am sure he must be a very upright and professional bureaucrat. But can one think of any other country where someone with his resume would run the State Bank of a country?
Recommend
0
May 05, 2019 05:31pm
He did the right thing.
Recommend
0
May 05, 2019 10:30pm
Sir Tariq bajwa what about swiz 200 Arab dollar deal which was sabotage by you & Ishaaq daar according rauf klasra?
Recommend
0
May 06, 2019 03:34am
The offer was so good that i cannot resist.
Recommend
0
May 06, 2019 04:41am
Professional conduct.
Recommend
0
May 06, 2019 05:51am
Without any monetary policy education or experience he should not have been appointed in the first place.
Recommend
0
May 06, 2019 07:16am
why didnt he limit borrowing when he could? he was Ishaq Dars yesman
Recommend
0
May 06, 2019 02:42pm
Great, true, brave, powerful and penetrating statement by the former State Bank Governor, Islamic Republic of Pakistan. Keep it up and hang on tough.
Recommend
0
