Govt appoints new Bait-ul-Mal chief
ISLAMABAD – The Federal Government has appointed Amir Fida Paracha as Managing Director, Pakistan Bait-ul-Mal.
According to the notification issued by the Ministry of Poverty Alleviation & Social Safety, Amir Fida Paracha has been appointed as Managing Director for a period of three years with immediate effect. The said appointment shall be on an honorary basis, the notification said. It is worth to mention here that Amir Fida Paracha is the leader of Pakistan People’s Party, the coalition partner in the incumbent government. Earlier the cabinet through circulation has approved the summary for the appointment of Amir Fida Paracha as new MD Pakistan Bait-ul-Mal, official source told The Nation. Pursuant to the Cabinet decision, Malik Zaheer Abbas was de-notified as Managing Director (MD), Pakistan Bait-ul-Mal (PBM). Consequently, the post of PBM’s MD fell vacant and required to be filled by a suitable candidate.