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KARACHI, Dec 27 (APP): Former Governor of the State Bank of Pakistan, Dr. Shamshad Akhtar, has passed away due to cardiac arrest on Saturday.
She was currently serving as the Chairperson of the Stock Exchange and the SECP and was fulfilling her responsibilities at the Stock Exchange.
Dr. Shamshad Akhtar was counted among the country’s prominent economists and served with distinction in various national and international institutions, including the State Bank.
She was widely regarded as one of Pakistan’s most accomplished economists, with a distinguished national and international career spanning several decades.
Dr Akhtar served as the first woman SBP governor, assuming office on January 2, 2006, for a three-year term. She was the 14th governor of the central bank since its establishment in July 1948 and played a pivotal role in strengthening Pakistan’s economic governance, financial sector reforms and international economic engagement.
Separately, she served twice as federal finance minister in caretaker governments — first in 2018 and later from 2023 to 2024 — holding multiple key economic portfolios during periods of political transition.
On March 23, 2024, Dr Akhtar was awarded the Nishan-e-Imtiaz, Pakistan’s highest civil award, in recognition of her outstanding services in the field of economics and public finance.
The funeral prayers of the deceased will be offered on December 28, after Zohr prayers.