The Governor State Bank of Pakistan, Mr. Saleem Raza, has resigned from his post. Yet another such an important resignation after the law minister is a big blow to the government, just a few days ahead of the budget for the financial year 2010-11. The statement in the resignation declares that his personal engagements leave him unable to continue with the responsibility, but it must be kept in mind that he is having problems with the government for the last few months and verbally, his resignation was at the authority's table for the last one month.
The resignation indicates some serious problems between the State Bank and the government. Saleem Raza made a press statement a few days ago, in which he held responsible the Government for the surge of inflation and price hike in the country. He also had some reservations about the promises made by the government to the IMF. A certain flow of top resignations for the last few months, has put a big question mark on the performance of the PPP government.
It is also reported that the government was negotiating with Saleem Raza to stop him from resigning, but the efforts could not be fruitful. The president, Asif Zardari has finally accepted his resignation.