KARACHI:
The former Governor of State Bank of Pakistan (SBP) Dr. Shamshad Akhtar died on Saturday at the age of 71 due to cardiac arrest.
Akhtar was serving as chairman of the Pakistan Stock Exchange at the time of her death, giving her a rare role spanning the country’s monetary policy, financial management and capital markets.
She served as the 14th SBP Governor from 2006 to 2009 and later 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 his early education in Karachi and Islamabad and was known for his strong academic background.
She graduated with a BA in Economics from the University of Punjab in 1974 and later obtained an MSc in Economics from Quaid-e-Azam University, Islamabad. She obtained an MA in Development Economics from the University of Sussex in 1977 and a PhD in Economics from the UK’s Paisley College of Technology in 1980.
Akhtar was also a Fulbright postdoctoral fellow and served as a visiting fellow at Harvard University’s Department of Economics in 1987.
President Asif Ali Zardari expressed deep sorrow over the demise of former State Bank 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 sorrow and grief over Dr. Shamshad Akhtar’s demise and extended condolences to the bereaved family.
In his message, he prayed to Allah Almighty to rest the departed soul in eternal peace and grant the bereaved family patience 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 sorrow and grief over the sad demise of former State Bank of Pakistan (SBP) Governor Shamshad Akhtar.
