By Imran Nasir

ISLAMABAD (TSAT) - Pakistan's new government on Wednesday has announced to not extend the tenure of Reza Baqir as governor of the central bank of Pakistan and asked the Deputy Governor to takes charge until the appointment of a new chief of the State Bank of Pakistan (SBP).

The announcement was made by the country’s Finance Minister Miftah Ismail on Twitter and said he informed Baqir regarding the government’s decision

“As the term of Governor SBP Dr Reza Baqir has come to an end, as per law the senior most Deputy Governor takes over until. Therefore Dr Murtaza Syed, an eminently qualified economist with rich IMF experience, will take over as Governor SBP. I wish him the best in his new role,” the minister tweeted. 

Earlier on Tuesday Ismail said that he spoke with Baqir and informed him about the government decision [to not extend his tenure].

“Tomorrow Governor SBP Dr Reza Baquir’s 3-year expires. I have spoken to him and told him of the government’s decision. I want to thank Reza for his service to Pakistan. He is an exceptionally qualified man & we worked well during our brief time together,” he wrote on the social media platform. 

Earlier some journalists reported that the Finance Ministry has recommended the government extend Baqir tenure, however, later those journalists deleted their tweets. 

Responding to the minister's Tweet, Baqir said he served his country wholeheartedly during his three-year tenure.

“Alhamdulillah tomorrow I complete my 3 years as Governor of our central bank @StateBank_Pak . Allah has been kind to give me the chance to serve my country in public office. To other fellow Pakistanis, especially overseas, I encourage you to consider public service,” he said.

A pro-government journalist Hamid Mir while praised the government decision and replied Ismail “ Thank you for saying goodbye to this exceptionally qualified man.”