Pak’s investment banker appointed new US envoy

Islamabad, March 8: Pakistan has appointed investment banking expert Ali Jahangir Siddiqui as its next ambassador to the US, government sources said on Thursday.

Siddiqui, son of prominent businessman and banker Jahangir Siddiqui, will replace Aizaz Ahmad Chaudhry.

Chaudhry’s tenure is due to expire and the government hasn’t offered him an extension.

Sources in the government said that Prime Minister Shahid Khaqan Abbasi after consultations approved the appointment and Siddiqui is expected to take up responsibilities next month after completion of formalities.

His appointment comes at a time of fresh strain in ties between Islamabad and Washington after the US successfully moved the Financial Action Task Force (FATF) to place Pakistan on the global terror financing watch-list. Siddiqui was appointed as the special assistant to the Prime Minister on economic and business matters in August last.

He had also served as chairman of JS Bank Ltd, which was founded by his stockbroker-turnedbanker father Jahangir Siddiqui.

He separated from business after his appointment as the special assistant.

Siddiqui has no direct experience of diplomacy as he served at different positions in various business and commercial entities in Pakistan and abroad.