The financial and economic community of Pakistan is in mourning following the sad demise of a towering figure. The State Bank of Pakistan (SBP) Board expressed its profound grief and heartfelt condolences on the passing of Dr. Shamshad Akhtar, a former caretaker finance minister and a respected economist.
A Stalwart of Pakistan's Economic Landscape
Dr. Shamshad Akhtar, who served as the caretaker Federal Minister for Finance, Revenue, and Economic Affairs, passed away after a prolonged illness. Her career was marked by significant contributions to the nation's financial policy and governance. Beyond her ministerial role, she made history as the first woman to lead the State Bank of Pakistan, serving as its Governor from 2006 to 2009. Her expertise was also recognized on international platforms, including her tenure as the UN Under-Secretary-General.
The SBP Board, in its official statement, highlighted her immense services to the country. They noted that her leadership and wisdom left an indelible mark on Pakistan's economic direction. The board members, along with SBP staff, extended their deepest sympathies to her bereaved family, praying for the departed soul to rest in eternal peace and for the family to bear the loss with fortitude.
Legacy of Leadership and Reform
Dr. Akhtar's passing represents the loss of one of Pakistan's most capable and experienced economic minds. Her career was not confined to national borders; she held prestigious positions such as Vice President at the World Bank and Senior Advisor to the President of the Asian Development Bank. Her work was instrumental in shaping financial sector reforms and advocating for sustainable economic policies.
During her time at the helm of the State Bank, she was known for her steadfast approach to monetary policy and financial stability. Colleagues and analysts often cited her deep understanding of global and domestic economic challenges. Her guidance was sought by successive governments, underscoring the respect she commanded across the political spectrum.
A Nation Remembers a Pioneering Economist
The news of her death has prompted an outpouring of tributes from across Pakistan's political, financial, and social spheres. Leaders from various parties, former colleagues, and international associates have all acknowledged her pivotal role. Dr. Shamshad Akhtar was 72 years old at the time of her passing, leaving behind a legacy that will continue to influence economic thought and policy in Pakistan for years to come.
Her journey from a skilled economist to the highest echelons of financial leadership broke barriers and set a powerful example for future generations, especially women aspiring to careers in economics and finance. The condolence message from the SBP Board stands as a formal testament to the high esteem in which she was held by the country's premier financial institution—an institution she once led with distinction.
