Former SBP Governor Dr Shamshad Akhter Passes Away. Chairperson Stock Exchange Dr. Shamshad Akhtar has passed away. She was also the Chairperson of SSGC, former Governor State Bank and Finance Minister.
According to the Stock Exchange spokesperson, Shamshad Akhtar passed away due to cardiac arrest. President Asif Ali Zardari has expressed deep sorrow and grief over the death of former Governor State Bank Shamshad Akhtar.
Heartfelt condolences to family of eminent economist & top-notch professional, Dr Shamshad Akhter, who served Pakistan with distinction in various important capacities at home & abroad! For her, service to Pakistan was paramount, not driven by any personal ambition: she was… pic.twitter.com/9t6xn272lW
— Mushahid Hussain Sayed (@Mushahid) December 27, 2025
In a statement, he paid tribute to Shamshad Akhtar’s services in the field of economy and financial management. The President also prayed for the elevation of the deceased’s rank and for patience for the bereaved family.
Federal Finance Minister Senator Muhammad Aurangzeb also expressed deep sorrow and grief over the death of former Finance Minister and former Governor State Bank Dr. Shamshad Akhtar.
Federal Minister for Finance, Senator Muhammad Aurangzeb, has expressed deep sorrow and grief over the passing of former Federal Minister for Finance and former Governor of the State Bank of Pakistan, Dr. Shamshad Akhtar. He stated that Dr. Shamshad Akhtar was a dignified,…
— Ministry of Finance, Government of Pakistan (@Financegovpk) December 27, 2025
In a statement, Senator Muhammad Aurangzeb said that Dr. Shamshad Akhtar was a distinguished, principled and thoughtful voice in the economic history of Pakistan. The late was a top-notch economist and a brilliant human being whom he held in high regard both personally and professionally.
Dr. Shamshad Akhtar served with utmost integrity and dedication in various high positions in the management of the country’s economy. Her national services will always be remembered with respect.
It is pertinent to mention that earlier this year in February, Former Supreme Court Judge Azmat Saeed Sheikh passed away.
Educational Background
Shamshad Akhtar was born in Hyderabad in 1954 and received her early education in Karachi and Islamabad. She completed her BA in Economics from the University of the Punjab in 1974 and her MSc in Economics from Quaid-e-Azam University, Islamabad. She completed her MA in Development Economics from the University of Sussex in 1977 and her PhD in Economics from Paisley College of Technology, UK in 1980. She is a Fulbright Scholar (Postdoctoral Fellowship) and was a Visiting Fellow in Economics at Harvard University in 1987.
Career Overview
Dr. Shamshad Akhtar assumed office as the 14th Governor of the State Bank of Pakistan on 2 January 2006, becoming the first female Governor of the State Bank.
Shamshad Akhtar worked as an economist with the World Bank’s Resident Mission in Pakistan for ten years. She was also associated with the Planning Department in both the federal and Sindh governments.
Shamshad Akhtar started her career at the Asian Development Bank in 1990 and after serving as a Senior and Central Specialist in the Finance Sector, became a Manager there in 1998. She also served as the Asian Development Bank’s Coordinator for the APEC Finance Ministers Group from 1998 to 2001.
He served on several committees of the bank, including the Reorganization Committee, Appeals Committee, and Oversight Committee, etc.
