KARACHI (WebDesk) Renowned economist and former State Bank of Pakistan (SBP) governor Dr Shamshad Akhtar passed away on Saturday at the age of 71 due to cardiac arrest. Dr Akhtar made history as the first woman to lead the SBP when she assumed charge on Jan 2, 2006, becoming the 14th governor of the central bank.
She also served as finance minister in the caretaker governments before the 2018 and 2024 general elections, and held prominent positions internationally — including vice president of the World Bank for the Middle East and North Africa, and executive secretary of the United Nations ESCAP. Prior to her SBP tenure, she worked with the Asian Development Bank, serving as director general for its Southeast Asia Department and earlier as director of the Governance, Finance and Trade Division for East and Central Asia.
President Asif Ali Zardari expressed deep sorrow and paid tribute to her distinguished services, acknowledging her role in strengthening Pakistan’s economic governance. Born in Hyderabad, she received her early education in Karachi and Islamabad and completed degrees in economics from the University of Punjab, Quaid-i-Azam University, University of Sussex, and a PhD from Paisley College of Technology in the United Kingdom.
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