The nation is in mourning following the passing of Dr. Shamshad Akhtar, a towering figure in Pakistan's economic and financial landscape. The former Governor of the State Bank of Pakistan (SBP) and federal minister for finance, revenue, and economic affairs breathed her last on Saturday. She was 72 years old.
A Trailblazing Career in Economics and Finance
Dr. Shamshad Akhtar's career was marked by a series of groundbreaking achievements. She made history by becoming the first woman to lead the State Bank of Pakistan, serving as its 14th Governor from 2006 to 2009. Her tenure at the central bank is widely regarded as a period of significant stability and reform. Her expertise was not confined to Pakistan; she also served as the Vice President of the Middle East and North Africa (MENA) Region at the World Bank, showcasing her command on the global stage.
Her contributions to public service continued upon her return to Pakistan. Dr. Akhtar took on the critical role of Federal Minister for Finance, Revenue, and Economic Affairs in the caretaker cabinet in 2023. Prior to this, she had also served as the Federal Minister for Planning, Development, and Special Initiatives. Her deep understanding of macroeconomic challenges made her a respected voice in policy circles, both domestically and internationally.
Nationwide Tributes and Condolences
The news of her demise has triggered an outpouring of grief from the highest levels of government and the financial community. President Asif Ali Zardari and Prime Minister Shehbaz Sharif led the nation in expressing profound sorrow. In their separate condolence messages, they praised Dr. Akhtar's immense contributions to the country's economy and her role as a pioneering woman in a field often dominated by men.
Prime Minister Shehbaz Sharif highlighted her "remarkable services" for Pakistan's financial and economic stability. He noted that her passing is a "great loss to the country" and that her work in key positions left a lasting, positive impact. The current Governor of the State Bank of Pakistan, Jameel Ahmad, also expressed his deep condolences, acknowledging her legacy as the first female governor of the institution.
Leaving Behind a Lasting Legacy
Dr. Shamshad Akhtar's legacy is multifaceted. She was not just a bureaucrat or a minister; she was a visionary economist who helped steer Pakistan through complex financial times. Her work in shaping monetary policy, advocating for fiscal discipline, and representing Pakistan at global financial institutions has left an indelible mark.
More than her professional accomplishments, she served as a powerful role model for women across Pakistan and the region, proving that expertise and dedication can break through the highest glass ceilings. Her career path from the State Bank to the World Bank and back to the federal cabinet is a testament to a life dedicated to public service and economic development.
As the country bids farewell to one of its most distinguished economic minds, her policies, reforms, and pioneering spirit will continue to influence Pakistan's journey toward economic resilience and prosperity for years to come. Her death creates a void in the nation's economic leadership that will be deeply felt.
