Former SBP governor Shamshad Akhtar passes away at 71

KARACHI: Former Governor of the State Bank of Pakistan, Dr Shamshad Akhtar, passed away on Saturday at the age of 71 after suffering a cardiac arrest, ARY News reported.

Dr Akhtar was born in Hyderabad, Sindh, in 1954. She served as the 14th Governor of the State Bank of Pakistan and was the first woman to hold the prestigious position. She also served as Pakistan’s caretaker federal minister for finance during two tenures—from June to August 2018, and again from 2023 to 2024.

In addition to her public service, she held key leadership roles in the corporate sector, including serving as chairperson of the Pakistan Stock Exchange and Sui Southern Gas Company (SSGC).

According to records of the Election Commission of Pakistan, prior to assuming her role as caretaker finance minister in 2023, Dr Akhtar declared her net assets at Rs2.94 billion.

Dr Shamshad Akhtar was widely respected for her contributions to Pakistan’s financial sector and economic governance.

President Asif Ali Zardari has expressed deep sorrow and grief over the passing of former Governor State Bank of Pakistan Shamshad Akhtar.

In a condolence message, the President paid tribute to her services in the field of economics and financial management, noting her contribution to strengthening economic governance in the country.

The President prayed for the elevation of the departed soul’s ranks and extended his heartfelt condolences to the bereaved family.