KARACHI:
Dr Shamshad Akhtar, former governor of the State Bank of Pakistan (SBP), passed away on Saturday at the age of 71 due to cardiac arrest.
Akhtar was serving as chairwoman of the Pakistan Stock Exchange at the time of her death, giving her a rare role spanning the country’s monetary policy, fiscal management and capital markets.
She served as the 14th SBP governor from 2006 to 2009 and then assumed the role of caretaker Finance Minister during the caretaker governments formed ahead of the 2018 and 2024 general elections.
Born in Hyderabad, Akhtar received her early education in Karachi and Islamabad and was known for her strong academic background.
He graduated in Economics from Punjab University in 1974 and later earned a Master’s degree in Economics from Quaid-e-Azam University, Islamabad. He then earned a master’s degree in Development Economics from the University of Sussex in 1977 and a PhD in Economics from Paisley College of Technology in the United Kingdom in 1980.
Akhtar was also a Fulbright postdoctoral fellow and served as a visiting fellow at the Department of Economics at Harvard University in 1987.
President Asif Ali Zardari expressed deep sorrow over the demise of former State Bank of Pakistan Governor Shamshad Akhtar and paid tribute to her lifelong commitment to public service and her role in strengthening economic governance and financial management in the country.
Chief of Army Staff (COAS) and Chief of Defense Forces (CDS) Field Marshal Syed Asim Munir also expressed deep grief and sadness over the demise of Dr Shamshad Akhtar and extended his condolences to the bereaved family.
In his message, he prayed to Almighty Allah to rest the soul of the deceased in eternal peace and grant patience to the bereaved family to bear this irreparable loss. He said that Dr. Shamshad Akhtar rendered invaluable services to Pakistan in the field of economics.
Prime Minister Shehbaz Sharif expressed deep grief and sadness over the sad demise of former State Bank of Pakistan (SBP) Governor Shamshad Akhtar.
