Pakistan's First Female Central Bank Governor Dies At 71

NEW DELHI, Dec 28 (Bernama) -- Pakistan paid glowing tributes to its distinguished economist and the country's first female central bank chief, Shamshad Akhtar, who passed away on Saturday at the age of 71.

"She made outstanding contributions to strengthening Pakistan's financial architecture," Prime Minister Shehbaz Sharif said in a message.

Akhtar was governor of the State Bank of Pakistan (SBP) from 2006 to 2009.

She was appointed finance minister in the caretaker administrations before the 2018 and 2024 national elections and served as United Nations under-secretary-general and the 10th executive secretary of the Economic and Social Commission for Asia and the Pacific (ESCAP) between 2014 and 2018.

She also worked with the World Bank and the Asian Development Bank in various roles.

UN Deputy Secretary General Amina Mohammed paid tribute to her contributions.

"She was a dear friend, colleague and exceptional leader. Her unwavering commitment to sustainable development and regional cooperation left an indelible mark on the UN and the people she served," Amina said in a post on X.

Pakistan Finance Minister Muhammad Aurangzeb described her as "a dignified, principled, and insightful voice" in the nation's economic history.

"Dr Shamshad Akhtar served the country with integrity and dedication in various senior positions related to the management of the national economy, and that her contributions to the nation will always be remembered with respect," Aurangzeb said.

Tributes poured in from diplomats, top government officials, former ministerial colleagues and the business community.

"A true great of Pakistan, striving to make Pakistan and the world better. Her work as Caretaker Minister was critical to deliver a key economic deal to stabilise Pakistan," Jane Marriott, British high commissioner in Islamabad, said in a post on X.

She served as chairperson of the Pakistan Stock Exchange at the time of her passing.

She was not known to be suffering from any serious illness, and her death was due to a cardiac arrest, according to reports in the Pakistani media.

Her funeral prayers and burial will be held in Karachi city on Sunday.

Akhtar was born in 1954 in Hyderabad, Pakistan's Sindh province.

She was a postdoctoral US Fulbright Fellow at Harvard University; she holds a PhD in economics from Scotland's Paisley College of Technology, a master's degree in development economics from the UK's University of Sussex, and an MSc in economics from Quaid-e-Azam University in Islamabad.

-- BERNAMA