ISLAMABAD: In a big development, the PTI government has removed FBR Chairman Jahanzaib Khan and Governor State Bank of Pakistan Tariq Bajwa.
Sources said finally the government has decided to bring the major changes in two important institutions and decided to remove the Chairman Federal Board of Revenue Jahanzaib Khan and Governor State Bank of Pakistan Tariq Bajwa.
Sources said the decision to change the FBR chairman was taken during the tenure of former Finance Minister Asad Umer. The government has removed both of the high officials due to deteriorating financial situation in the country. Notification of transfer from their current position will be issued on Saturday.
Sources revealed that Prime Minister Imran Khan had expressed dissatisfaction over the performance of Federal Board of Revenue regarding tax revenue collections. Advisor to Prime Minister Abdul Hafeez Sheikh was also not satisfied with the performance of chairman Federal Board of Revenue and Governor State Bank of Pakistan.
During the recent interaction with IMF team, the officials of financial institution criticized the role of Federal Board of Revenue regarding broadening tax base and specially performance in revenue collection.
FBR Chairman:
Jahanzaib Khan, in pursuance of Establishment Division’s Notification No. PF(536)/ E-5(PAS) dated 28.08.2018, had taken the charge with effect from August 29, 2018. Dr Jahanzeb Khan regarded as the pride of the erstwhile District Management Group (now renamed as the Pakistan Administrative Service) before his appointment as Chairman of the Federal Board of Revenue (FBR).
Jehanzeb long served under Shahbaz Sharif’s administration in Punjab. He started his career as an assistant commissioner in Punjab and laterserved as the deputy commissioner of Bannu and Abbotabad. Subsequently, he served as the Punjab’s Chairman of Planning and Development and the Additional Chief Secretary for Energy — a post created by Shahbaz Sharif to tackle the previous power supply crisis. He also worked as secretary Health and secretary Livestock in the Punjab government. He also served as Pakistan’s commercial counselor in Paris.
Jehanzeb has been credited with the success of China Pakistan Economic Corridor projects in Punjab in his role as Chairman Planning. He has also served as Secretary Finance in Punjab and was the moving force behind the creation of the Punjab Revenue Authority. Although, he left his mark in Punjab, Jehanzeb actually belongs to Peshawar. He is business friendly and pro reforms, and perhaps for these reasons has been given the tough assignment of FBR Chairman. Government sources said that the FBR needs an outsider to shake it up. Imran Khan wants to double the present revenue to Rs8,000 billion within a couple of years.
SBP Governor:
Mr. Tariq Bajwa was appointed as the Governor SBP by the President of Pakistan on July 7, 2017 for a period of 3 years from the day he assumes the office of the Governor. He assumed his responsibilities on July 7, 2017. A career civil servant by profession, Mr. Bajwa joined the Civil Service of Pakistan in 1981. He has varied experience in his career including field assignments of Assistant Commissioner and Deputy Commissioner, Secretariat positions both in the Federal and Provincial Secretariat, General Manager PIA (1992-1996), Head of Pakistan’s Trade Mission in Los Angeles (1999-2004), Director General Planning and Finance in Earthquake Reconstruction & Rehabilitation Authority (ERRA) and the United Nations Development Programme (UNDP).
Mr. Bajwa served as Secretary Finance, Punjab from 2010 to 2013 and during his tenure he steered the stabilization of the provincial finances, and introduced several reforms including pension reforms. He also contributed as a Director on the Board of Bank of Punjab (2010-2013) during which period the Bank underwent major performance turnaround.
In 2013 he was appointed Chairman, FBR (July 2013 to October, 2015) and under his leadership FBR revenues witnessed significant growth, and the concept of Filer/Non-Filer was introduced. The exercise of withdrawal of Statutory Regulatory Orders was undertaken and slabs of Custom Duties were reduced to four.
Thereafter, he took charge as Secretary, Economic Affairs Division and then as Secretary Finance from where he retired on June 18, 2017. As Secretary Finance, he also served as a Director on the SBP Board during February – June, 2017.
He holds a Master’s degree in Public Administration from Kennedy School of Government, Harvard University – where he was awarded the prestigious Littauer Fellowship – and an LLB from the University of the Punjab, Lahore. He attended National Management Course at National School of Public Policy Lahore in 2009 as well as training at National Institute of Public Administration (NIPA) in 2004. His professional expertise and experience includes public policy formulation and implementation with specialization in public finance and taxation.