Exim bank ineligible recruitments

The central bank advised the ministry to review Buhari’s eligibility. However, despite these contradictions, the ministry secured an extension of Buhari’s tenure last July. Photo: FILE

Islamabad:

The federal government has decided to hire a new head of Pakistan’s export-import (Exim) bank amid revelations of a discrepancy in the current chairman’s age that should have made him ineligible for the appointment four years ago.

Sources in the finance ministry told The Express Tribune that a decision has been taken to expedite the process for the appointment of the managing director and chairman of Exim Bank of Pakistan. This decision was taken after it was revealed that the incumbent CEO did not meet the eligibility criteria at the time of his appointment in December 2019, according to officials.

In July last year, the federal cabinet had extended the tenure of the Exim Bank managing director for a period of six months or until re-appointment, whichever is later. But the Treasury Department is now considering ending the president’s presence in the office, the sources said.

The advertisement for the appointment of Managing Director of EXIM Bank had been published in newspapers in May 2019. The age limit was kept at 55 as shown in the advertisement.

The records of the Ministry of Finance and the State Bank of Pakistan showed that there was a clear discrepancy in the age record mentioned in two different passports. The chairman, Syed Irfran Bukhari, is a dual citizen of Canada and Pakistan, the Ministry of Finance confirmed to The Express Tribune.

In December 2019, the Ministry of Finance issued the notification for the appointment of Buhari as head of the bank, subject to the approval of the central bank.

The documents showed the central bank highlighted the “discrepancy” in the applicant’s age in a letter sent to the Treasury in February 2020.

“While assessing the fitness and suitability of Irfan Bukhari for the subject post, a discrepancy has been noted in his date of birth. In National Identity Card Overseas Pakistanis (NICOP), date of birth is 08-05-1964, while in Canadian passport and FPT Proforma, his date of birth is 08-05-1962,” according to SBP’s letter to the ministry Finance.

The central bank clearly told the finance ministry that his age was above the eligibility criterion and “contrary to the job advertisement where the maximum age requirement for the post is 55 years”.

The central bank advised the ministry to review Buhari’s eligibility. However, despite these contradictions, the ministry secured an extension to Buhari’s tenure last July.

When contacted, Ministry of Finance Spokesman Qamar Abbasi confirmed that Buhari was a dual citizen and held Pakistani and Canadian citizenship.

The spokesman said that at the time of the appointment, according to the NICOP file, the president was 54 years and 11 months old. Abbasi said Buhari was selected based on his date of birth as listed in NICOP, which was cross-referenced by NADRA.

Reading

EXIM will go live soon

But the documents indicate that Buhari started the process of preparing documents to meet the age limit criteria after his selection.

The date of birth on his Canadian passport was May 8, 1962, which he obtained in August 2019. This made him ineligible for the position.

However, the Pakistani passport was issued on January 13, 2020 – weeks after he was notified by the Exim Bank chairman, and listed his date of birth as May 8, 1964.

The finance ministry spokesman said a committee comprising additional secretary home finance, additional secretary and additional secretary human resources had shortlisted the candidates.

Abbasi said a selection committee comprising the then finance minister, then commerce minister, former Prime Minister’s Adviser on Institutional Reforms and Austerity, then finance secretary, then establishment secretary and the then additional secretary of the Finance Department had finalized his name. .

The spokesperson further said that as required for such appointments, the SBP has evaluated the proposed appointment against the prescribed Fit Proper Test and cleared it.

But the filing showed the central bank had flagged the age difference.

Pakistan has established Exim bank as a Development Finance Institution and it is wholly owned by the federal government. Exim bank’s mandate is to promote exports and support the implementation of import substitution projects.

The sources said the Ministry of Finance at the time had sought clarifications from Buhari following the central bank’s objection. Four years ago, the president had assured to set the record straight with the Canadian authorities and the Punjab provincial authorities, the sources said. But then the matter was not followed up. The spokesman said the Federal Cabinet approved the reappointment of Buhari on the recommendation of the Department of Finance in July last year.

Published in The Express Tribune, February 22^n.d2024.

Like Businesses on Facebook, follow @TribuneBiz on Twitter to stay updated and join the conversation.