In his reaction to a report published in Saturday’s Dawn under the headline, “SBP governor waits for resignation acceptance to explain reasons”, Mr Kardar implicitly confirmed that he had formally offered to step down, but said that what was reported as the contents of his resignation letter was not correct.

“I strongly deny that these are the contents of my resignation letter,” Mr Kardar said. At the same time, he said it was not appropriate for him to disclose the contents of the resignation letter at this stage.