ISLAMABAD- Pakistan on Friday appointed former finance ministry official Tariq Bajwa as the new governor of its central bank in a move likely to raise concerns that the independence of the State Bank of Pakistan is being eroded.
His appointment comes days after Finance Minister Ishaq Dar sparred with the central bank over the rupee's unexpected 3.1 percent plunge against the dollar on Wednesday.
Bajwa recently retired as the top bureaucrat at the ministry and has worked closely with Dar in the past.
"The President of Pakistan is pleased to appoint Tariq Bajwa as Governor State Bank of Pakistan (SBP) for a period of three years from the date he assumes office," the finance ministry said on its official Twitter feed.