Four government-owned bank heads have been removed because they were appointed illegally.
Information Minister Fawad Chaudhry said on Wednesday that they were removed after the approval of the cabinet. Former finance minister Ishaq Dar had approved these illegal appointments, he said.
These include National Bank Chairperson Saeed Ahmed, First Women Bank President Tahira Raza, Zarai Taraqiati Bank President, and CEO Syed Talat Mehmood and SME Bank President Ehsanul Haq Khan.
Four regulators have also been removed. These include deputy governors of State Bank Jameel Ahmed and Shamsul Hassan, and Vadiyya Khalil, Dr Muhammad Saleem and Shehzad Ansar from Competition Commission.
“Only the federal government can make these appointments,” he said. Dar had filed a petition asking for this right to be delegated to him.
Prime Minister Imran Khan chaired the cabinet meeting on Thursday.
During the cabinet meeting, Finance Minister Asad Umar told members about the Saudi delegation’s visit to Pakistan. The meeting was also briefed on the IMF delegation’s visit.
The Saudis expressed their interest in investing in Pakistan, the cabinet members were told.
Petroleum Minister Ghulam Sarwar Khan said that Saudia Arabia is keen on investment in all sectors. They will open a “state of the art” refinery in Gwadar. “The discussions on the capacity and interest rates will be held. The provincial government will be taken on board.”
Khan said that the Chinese government has no concerns over investment from other countries. “We are open to all investment,” he said.
Chaudhry remarked that a board of investment from the UAE will also visit Pakistan. “The UAE is also keen on investing in Pakistan,” he said.
During the meeting, the amendments in the Finance Bill were put before the prime minister for approval. It was decided that the government should proceed with its economic reform agenda.
A task force has been made to turn PM into a “centre of excellence”. It will be headed by Shafqat Mehmood and comprises Shireen Mazari and Abdul Razak Dawood.
Pervez Khattak will head another task force to see the utilisation of 2,467 government properties in Khyber Pakhtunkhwa and Punjab.