Shamshad Akhtar is a Pakistani development economist, United Nations diplomat, banker and politician who served as the caretaker finance minister of Pakistan from 2023 to 2024 as well as from 5 June 2018 to 18 August 2018.
Prior to that, she served as the 14th Governor of the State Bank of Pakistan, the first woman to assume this position. She also served as a senior adviser to the then Secretary-General of the United Nations, Ban Ki-moon and as Vice-President of the World Bank.
In December 2013, Akhtar was selected by the UN Secretary-General as Under-Secretary-General and the 10th Chief Secretary of the Monetary and Social Commission for Asia and the Pacific (ESCAP).
Since 17 August 2023, she has been serving as care taker Federal Minister of Finance.
Early life and education
Shamshad Akhtar was born in Hyderabad, Sindh, Pakistan.
She moved to the United Kingdom on a Commonwealth Scholarship to study at the University of Sussex, receiving an M.A. in development economics in 1977. She moved to the University of the West of Scotland (then Paisley College of Technology) where she was awarded a PhD in Economics in 1980.
Career
Akhtar started her career in 1980 with the Planning Commission in Islamabad but moved few months later to work with the World Bank's Resident Mission in Pakistan as a country economist. She left in 1986 for a year-long sabbatical to attend John F. Kennedy School of Government at Harvard University as a postdoctoral researcher under the Fulbright Program.
In 2005, she moved back to Pakistan to serve as the 14th Governor of the State Bank of Pakistan, a position she retained until January 2009.
In 2009, Akhtar re-joined the Asian Development Bank as a senior advisor to Haruhiko Kuroda. She moved to Washington, D.C. to be able to work at the World Bank and served as the Vice President, World Bank Middle East and North Africa region. During this period, she spearheaded the bank's response to the Arab Spring political campaign and the Arab regional integration strategy and its implementation.
In September 2011, she moved to the United Nations to serve as the Assistant Secretary-General for Economic and Social Affairs and Senior Adviser on Economic Development and Finance to the UN Secretary-General Ban Ki-moon.
In December 2013, Akhtar was appointed as the 10th Executive Secretary of UNESCAP in Bangkok.
In 2020, Akhtar was appointed by United Nations Secretary-General António Guterres to serve on the Advisory Committee for the 2021 Food Systems Summit, chaired by Inger Andersen.
In 2023, Akhtar was appointed as caretaker finance minister of Pakistan
Wealth
According to Election Commission of Pakistan, prior to assuming her role as caretaker finance minister in 2023, Akhtar declared her net worth to be Rs. 2.94 billion (US$10 million). Among the mentioned assets are Rs. 2.8 billion (US$9.7 million) in Naya Pakistan Certificates, Rs. 109 million (US$380,000) in Pakistani treasury bills, shares of Pakistan State Oil worth Rs. 0.3 million, and residential plots in DHA. Akhtar also has more than Rs. 27 million (US$94,000) deposited in different banks.
Recognition
- On 23 October 2007, Akhtar was conferred Best Central Bank Governor for Asia 2007 by the Euromoney Institutional Investor.
- On 11 November 2008, Akhtar was named amongst the top ten women leaders in Asia by The Wall Street Journal.
References
- "Caretaker cabinet of PM Anwaar-ul-Haq Kakar sworn in". Geo.tv. 17 August 2023. Retrieved 18 August 2023.
- ^ "Biography of Executive Secretary Shamshad Akhtar". United Nations ESCAP website. 2 February 2014. Archived from the original on 17 January 2017. Retrieved 11 April 2022.
- ^ "Former SBP governor appointed Executive Secretary UNESCAP". The Express Tribune (newspaper). 10 December 2013. Retrieved 11 April 2022.
- ^ "Dr Shamshad named first SBP woman governor". Dawn (newspaper). 4 December 2005. Retrieved 11 April 2022.
- ^ "Profile of Shamshad Akhtar". State Bank of Pakistan website. Retrieved 11 April 2022.
- "Shamshad Akhtar - biography and personal life". 31 August 2021. Retrieved 11 April 2022.
- ^ "Dr Akhtar among top ten women in Asia". Dawn (newspaper). 11 November 2008. Retrieved 11 April 2022.
- ^ "Shamshad Akhtar profile". World Bank Blogs. 25 October 2010. Retrieved 11 April 2022.
- United Nations, press release of June 29, 2020.
- The Gazette of Pakistan - Extra (PDF). Printing Corporation of Pakistan (published 6 November 2023). 2023. pp. 10–13. Archived from the original (PDF) on 29 February 2024.
- "PM Kakar declares assets worth Rs48m". The News International. Retrieved 29 February 2024.
External links
- Official website of State Bank of Pakistan
- Shamshad awarded “Best Central Bank Governor in Asia” prize
- Shamshad visits native village for first time
| Preceded byIshrat Husain | Governor of State Bank of Pakistan | Succeeded bySyed Salim Raza |
| State Bank of Pakistan | |
|---|---|
| Currency | |
| Organization | |
| Subsidiaries | |
| Educational institutes | |
| Products and services | |
| Facilities | |
| Governors |
|
| Mulk Caretaker Cabinet (2018) | |
|---|---|
| Federal Ministers | Nasirul Mulk
|
| Kakar Cabinet | |
|---|---|
| Anwaar ul Haq Kakar | |
| Federal Ministers | |
| Advisors | |
| Special Assistants to PM | |
| Controversies | |
- Harvard Kennedy School alumni
- Governors of the State Bank of Pakistan
- Ministers of finance of Pakistan
- Alumni of the University of the West of Scotland
- People from Hyderabad District, Pakistan
- People from Naushahro Feroze District
- Alumni of the University of Sussex
- Living people
- Muhajir people
- University of the Punjab alumni
- Quaid-i-Azam University alumni
- Under-Secretaries-General of the United Nations
- Pakistani expatriates in the United Kingdom
- Pakistani expatriates in the United States
- Pakistani officials of the United Nations
- 1954 births
- Female finance ministers