The federal cabinet was informed on November 23 that the President, NBP is appointed by the Federal Government in consultation with State Bank of Pakistan, for a term of three years, as provided under Section 11(3)(a) of Banks (Nationalization) Act 1974. The post of President, NBP was advertised in the national newspapers on September 30, 2018. In response to the advertisement, 98 applications were received which were scrutinized by a committee in its meeting held on October 22, 2018 and comprising Finance Secretary, Special Secretary Finance, Additional Finance Secretary (HRM/CF), Additional Finance Secretary (EF) and Additional Secretary-II, and the Establishment Division. After assessment of the CVs and credentials of all the candidates on the basis of their educational background and quality, relevance, diversity and eminence of their experience, the committee finalized the list for consideration of the Selection Committee.
According to sources, a meeting of the Selection Committee, comprising Minister for Finance, Revenue and Economic Affairs, Adviser to the Prime Minister on Institutional Reforms and Austerity, Adviser to the Prime Minister on Commerce, Textile, Industries & Production and Investment and Special Secretary Finance / Acting Finance Secretary was convened on November 9, 2018 to conduct interviews of the (05) candidates. The State Bank of Pakistan had also been consulted in terms of section 11(3)(a) of the Banks (Nationalization) Act, 1974.
The Selection Committee interviewed the four short-listed candidates, both in person and through video link, while Atif Bajwa did not participate due to personal reasons and requested his name be removed from consideration. The committee assessed the candidates on the basis of their professional knowledge and expertise, leadership qualities and communication skills required for the position of President/ CEO, NBP.
The committee unanimously recommended the following panel of three persons, in the order of merit, for appointment against the post of President/CEO NBP under the Banks (Nationalization) Act, 1974:- (i) Javed Kureishi; (ii) Arif Usmani; and (iii) Wajahat Husain.
Javed Kureishi had, however, stated that for personal reasons, he is compelled to withdraw his name from the process.
Finance Division proposed that Arif Usmani may be appointed as the President/ CEO, NBP for a period of 3 years under Section 11(3)(a) of the Banks (Nationalization) Act, 1974 subject to Fit and Proper Test clearance by the State Bank of Pakistan.
After a brief discussion, the cabinet approved the name of Arif Usmani as President/CEO NBP subject to clearance on the fit and proper criteria from the State Bank of Pakistan.
Comments
Comments are closed.