ISLAMABAD: Prime Minister Imran Khan has approved the appointment of Naveed Kamran Baloch, who is currently serving as Secretary Finance, as Executive Director (ED) to the World Bank (WB).
“Yes, the PM has approved a summary for the nomination of Naveed Kamran Baloch as next Pakistan’s ED to World Bank and he will join his posting next month,” top official sources confirmed to media.
Reportedly, there was a close contest among two contenders for the post of ED, including Principal Secretary to PM Azam Khan and incumbent Secretary Finance Naveed Kamran Baloch.
The government, however, has approved the nomination of Secretary Finance who will join as ED to World Bank after the annual meeting of Bretton Wood Institutions (BWIs) such as the IMF and WB.
The Economic Affairs Division (EAD) had moved the summary to PM with four names including Azam Khan, Naveed Kamran Baloch, Secretary Establishment Ijaz Munir, and former Governor State Bank (SBP) Tariq Bajwa.
The newly appointed ED will represent Pakistan at the World Bank for the next three years. The tenure of posting of ED/Alternate ED to World Bank and Asian Development Bank reduced by one year from four years to three years in order to bring tenure of Pakistani representatives in line with election cycles for the appointment of Executive Director along with members of other jurisdictions of the same constituency.
The incumbent ED to WB Shahid Tarar will return to the country after completion of his tenure.
Different names are under consideration for the vacant slot of secretary finance, including Zafar Hasan, Federal Secretary Communication, Ahmed Nawaz Sukhera, Secretary Cabinet Division, Umar Hameed, Secretary National Food Security, and existing Special Secretary Finance Mohsin Mushtaq Chandna.
