ISLAMABAD - The government has violated the rules and regulation of the SBP Act 1956 by not appointing Governor of the central bank by due date (October 18), as government bound to appoint SBP within 90 days. According to SBP 1956 Act, the govt has to appoint governor central bank within three months period following the post got vacant. Shahid Hafeez Kardar resigned from the post of governorship of the SBP on July 18, 2011; therefore it was necessary to appoint new chief by today (October 18). Summary regarding appointing new Governor has been sent to the Presidency few days ago and it is the discretionary power of the President to appoint new head of the bank, said a senior official of the Finance Ministry on the condition of anonymity. He declined to comment on the violation of the rules and regulation. It might be mentioned here that it is not for the first time that govt is violating the SBPs rules, as it also happened when Shahid Hafeez Kardar was appointed a SBP chief. However, he said that this process would be completed in next few days, as thorough discussions are underway in this regard. According to the sources, the government in last three months considered several names including Acting Governor SBP Yasin Anwar, M B Abbasi, Ali Reza and Dr Shamshad for the post of Governor SBP. However, sources believed that Anwar Yasin, who had been working as acting governor SBP since July 19, 2011, is the most favourite candidate for the post of SBP chief to be appointed for next three years period.