ISLAMABAD - Upon the retirement of Federal Board of Revenue (FBR) Chairman Nisar Muhammad on Tuesday, Finance Minister Ishaq Dar has assigned Dr Muhammad Irshad, Member (Operations-Inland Revenue) to look after the tasks of the FBR chairman till the appointment of a regular chairman.

Nisar has retired on reaching the age of superannuation. Dr Irshad – a BS-22 officer of the Inland Revenue Service - will look after the work of FBR chairman in addition to his own duties as FBR member. This would ensure smooth functioning of FBR in the interim period.

Meanwhile, Finance Secretary Dr Waqar Masood would also retire on January 20. The government is likely to appoint new Finance secretary and FBR chairman after Prime Minister Nawaz Sharif would return to the country from Davos.

The government is considering several names for the slot of Finance secretary including Economic Affairs Division Secretary Tariq Bajwa, Commerce Secretary Azmat Ranjha and Shahid Mehmood, who is currently serving as an adviser to the International Monetary Fund’s (IMF) executive director. However, the prime minister will take the final decision with the consultation of the finance minister.

Apart from Finance secretary and FBR chairman, other key posts of the economic ministries and divisions would also vacated within this year. Finance Special Secretary Dr Shujaat Ali would retire on May 28, 2017. Similarly, Economic Affairs Division Secretary Tariq Bajwa’s career would end on June 18, 2017. Three-year contract of State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra would expire on April 29, 2017. Securities and Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi’s contract would expire on December 19, 2017. The presidents of the National Bank of Pakistan (NBP) and Zarai Tariqiati Bank Limited (ZTBL) would also retire within this year.

The age of Auditor General of Pakistan (AGP) Rana Asad Amin would reach 65 years on April 8 2017. He was appointed as AGP in June 2015.