KARACHI:
Former State Bank of Pakistan (SBP) Governor Dr Shamshad Akhtar died on Saturday at the age of 71 following a cardiac arrest.
Akhtar was chairwoman of the Pakistan Stock Exchange at the time of her death, giving her a rare role in the country’s monetary policy, fiscal management and capital markets.
She served as the 14th governor of the SBP from 2006 to 2009, then assumed the role of acting finance minister during the caretaker governments formed before 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.
She received a bachelor’s degree in economics from the University of the Punjab in 1974 and then a master’s degree in economics from Quaid-e-Azam University, Islamabad. She then received a master’s degree in development economics from the University of Sussex in 1977 and a doctorate in economics from the United Kingdom’s Paisley College of Technology in 1980.
Akhtar was also a Fulbright postdoctoral fellow and visiting scholar in the Department of Economics at Harvard University in 1987.
President Asif Ali Zardari has expressed deep sadness over the death of former State Bank of Pakistan Governor Shamshad Akhtar, paying tribute to his lifelong commitment to public service and his role in strengthening the country’s economic governance and financial management.
Chief of Army Staff (COAS) and Chief of Defense Forces (CDS) Field Marshal Syed Asim Munir also expressed deep sorrow and sadness over the demise of Dr Shamshad Akhtar and offered condolences to the bereaved family.
In his message, he prayed to Allah Almighty to rest the soul of the deceased in eternal peace and grant the bereaved family patience to bear this irreparable loss. He said that Dr Shamshad Akhtar had rendered invaluable services to Pakistan in the economic field.
Prime Minister Shehbaz Sharif has expressed deep sadness over the sad demise of former State Bank of Pakistan (SBP) Governor Shamshad Akhtar.
