Senior economist takes over as Pakistan’s central bank governor

The file photo shows new governor of State Bank of Pakistan. (State Bank of Pakistan/Twitter)
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Updated 28 August 2022
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Senior economist takes over as Pakistan’s central bank governor

  • Jameel Ahmad has been appointed to manage the State Bank of Pakistan for the next five years
  • Ahmad has taken over as the new governor at a time when Pakistan is facing huge economic challenges

ISLAMABAD: A senior Pakistani economist, Jameel Ahmad, has formally taken charge as the country’s central bank governor for the next five years after his appointment was approved by the president earlier this month, said the bank in a social media post on Saturday.

Ahmad has started performing his duties as the top official of the State Bank of Pakistan (SBP) at a time when the country is witnessing tough economic challenges, including soaring inflation.

The SBP governor’s post was vacant since its former occupant, Reza Baqir, left in May.

“Mr. Jameel Ahmad has assumed the charge of Governor, State Bank of Pakistan, after his appointment by the President of Pakistan for a period of 5 years in pursuance of Section 11 A (1) of SBP Act 1956,” the bank announced in a Twitter post.

 

 

According to Ahmad’s profile shared by the central bank, he has spent over 31 years at various positions at the SBP and the Saudi central bank.

“Mr. Jameel Ahmad has extensive experience of working at senior positions at SBP in areas of Monetary Policy and Operations, Treasury, Banking Policy & Regulation, Banking Supervision, Development Finance, Payment Systems and Financial Resource Management,” said a central bank notification.

Speaking to Arab News after Ahmad’s appoint earlier in August, financial analysts said the new central bank governor would be facing several challenges, including taming high inflation and shoring up forex reserves.

“The top most challenge the governor of central bank would face is to control inflation as in July 2022 it was recorded at 24.9 percent and it is expected that it would remain high in August,” Tahir Abbas, research head at the Karachi-based Arif Habib Limited brokerage firm, said.

“The second challenge would be to build up the country’s forex reserves that are at very low level, [barely enough] to cater imports of less than two months,” he continued. “The third challenge would be setting a monetary policy that enables to counter inflation by avoiding recession.”

Abbas said Ahmad would also need to review the schemes announced by the central bank, including Roshan Digital Account, to reverse the withdrawal trend by offering attractive rates.


US freezes visa processing for 75 countries, media reports Pakistan included

Updated 14 January 2026
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US freezes visa processing for 75 countries, media reports Pakistan included

  • State Department announces indefinite pause on immigrant visas starting Jan 21
  • Move underscores Trump’s hard-line immigration push despite close Pakistan-US ties

ISLAMABAD: The United States will pause immigrant visa processing for applicants from 75 countries starting Jan. 21, the State Department said on Wednesday, with Fox News and other media outlets reporting that Pakistan is among the countries affected by the indefinite suspension.

The move comes as the Trump administration presses ahead with a broad immigration crackdown, with Pakistan included among the affected countries despite strong ongoing diplomatic engagement between Islamabad and Washington on economic cooperation, regional diplomacy and security matters.

Fox News, citing an internal State Department memo, said US embassies had been instructed to refuse immigrant visas under existing law while Washington reassesses screening and vetting procedures. The report said the pause would apply indefinitely and covers countries across Asia, Africa, the Middle East, Europe and Latin America.

“The State Department will pause immigrant visa processing from 75 countries whose migrants take welfare from the American people at unacceptable rates. The freeze will remain active until the US can ensure that new immigrants will not extract wealth from the American people,” the Department of State said in a post on X.

According to Fox News and Pakistan news outlets like Dawn, the list of affected countries includes Pakistan, Afghanistan, Bangladesh, Iran, Iraq, Egypt, Nigeria, Russia, Somalia, Brazil and Thailand, among others. 

“The suspension could delay travel, study, and work plans for thousands of Pakistanis who annually seek US visas. Pakistani consulates in the US are expected to provide guidance to affected applicants in the coming days,” Dawn reported.

A State Department spokesman declined comment when Arab News reached out via email to confirm if Pakistan was on the list. 

The Department has not publicly released the full list of countries or clarified which visa categories would be affected, nor has it provided a timeline for when processing could resume.

Trump has made immigration enforcement a central pillar of his agenda since returning to office last year, reviving and expanding the use of the “public charge” provision of US immigration law to restrict entry by migrants deemed likely to rely on public benefits.

During his previous term as president, Trump imposed sweeping travel restrictions on several Muslim-majority countries, a policy widely referred to as a “Muslim ban,” which was challenged in US courts before a revised version was upheld by the Supreme Court. That policy was later rescinded under the President Joe Biden administration.

The latest visa freeze marks a renewed hardening of US immigration policy, raising uncertainty for migrants from affected countries as Washington reassesses its screening and vetting procedures. 

The freeze on visas comes amid an intensifying crackdown on immigration enforcement by the Trump administration. In Minneapolis last week, a US Immigration and Customs Enforcement (ICE) agent shot and killed 37-year-old Renee Good, a US citizen, during a federal operation, an incident that has drawn nationwide protests and scrutiny of ICE tactics. Family members and local officials have challenged the federal account of the shooting, even as Department of Homeland Security officials defended the agent’s actions. The case has prompted resignations by federal prosecutors and heightened debate over the conduct of immigration enforcement under the current administration.