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Pakistan government dismisses reports on central bank governor appointment

Pakistan's Ministry of Finance dismissed reports that the government has decided to appoint Atif Bajwa as the new governor of the State Bank of Pakistan, The News International reported June 9, citing a spokesman for the ministry.

The spokesman said the reports were mere speculations and clarified that no proposal for Bajwa's appointment as central bank governor is under consideration. The process for selecting a new governor is underway, the spokesman added.

Bajwa serves as president of Bank Alfalah Ltd.

The government is expected to appoint a new governor for the SBP after approval of the federal budget for 2017-2018, the publication added, citing official sources.

In the meantime, Riaz Riazuddin will continue to serve as acting governor, the spokesman said.