SBP governor getting higher salary than lawmakers, Senate told

ISLAMABAD: A rumpus was witnessed in the Senate when members of the Upper House raised the matter that the State Bank of Pakistan (SBP) governor is getting a salary of Rs4 mln/month, ARY News reported.

The Senate resumed its session with Chairman Sadiq Sanjrani in the chair on Friday. During the question hour, Senators said it has been revealed that the SBP governor, who is a grade-8 employee, is getting Rs4 mln monthly salary.

We are getting a monthly salary of Rs160,000 and a grade 8 employee of the SBP is getting Rs4 a monthly salary, the Senators asked.

Caretaker finance minister Shamshad Akhtar responding to the concern said salaries in the private banking sector have gone up a lot.

“Salaries in State Bank are higher than Finance Ministry and Senate,” Shamshad Akhtar admits. The salary structure of the central bank is different from others across the world, she added.

Ms. Akhtar said SBP gave a policy to increase salaries if pension rule was being abolished.

PPP Senator Raza Rabbani said Senate the rates of electricity and gas are being increased at the request of the IMF while on the other hand, the ‘royal’ expenses of the government are not reducing.

“Classes have also been created in Elite,” the senator argued.