The incumbent acting Chairman Mehmood Alam is being transferred and posted as Secretary Federal Ombudsman.

On Saturday, the prime minister replaced Secretary Finance Dr Waqar Masood with Secretary Economic Affairs Division (EAD), Abdul Wajid Rana.

The removal of Dr Waqar Masood as Secretary Finance, materialised on the same day the Monetary Policy was announced by the Governor State Bank of Pakistan (SBP) Yasin Anwar and amid rumours that Dr Hafeez Sheikh has been unable to convince the PPP Co-Chairman, who is also President of Pakistan, Asif Ali Zardari to give him a Senate seat in the forthcoming March elections. The monetary policy held the federal government responsible for current inflationary pressure attributed to massive government borrowing.

Dr Waqar Masood has been transferred and posted as Secretary EAD. Wajid Rana has already worked in Finance Ministry at a top position. When contacted, Dr Waqar Masood said transfer was a routine matter in the government service. However, the new acting Chairman FBR and incumbent Chairman were not available for confirmation of their new assignments.
(MUSHTAQ GHUMMAN)