Shamshad Akhtar
{{Short description|Pakistani politician, diplomat and banker}}
{{Use Pakistani English|date=April 2022}}
{{Use dmy dates|date=April 2022}}
{{Infobox officeholder
| name = Shamshad Akhtar
| image = Shamshad Akhtar - World Economic Forum on the Middle East 2010.jpg
| caption = Akhtar at the World Economic Forum in October 2010
| office = Minister of Finance
| term_start = 17 August 2023
| term_end = 4 March 2024
| president = Arif Alvi
| primeminister = Anwaar ul Haq Kakar
| predecessor = Ishaq Dar
| successor = Muhammad Aurangzeb
| term_start1 = 5 June 2018
| term_end1 = 18 August 2018
| predecessor1 = Miftah Ismail
| successor1 = Asad Umar
| office2 = Executive Secretary of United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP)
| primeminister2 =
| term_start2 = 10 December 2013
| term_end2 = 2018
| predecessor2 = Noeleen Heyzer
| successor2 = Armida Salsiah Alisjahbana
| order3 = 14th Governor of the State Bank of Pakistan
| office3 =
| primeminister3 = Yousaf Raza Gillani
| term_start3 = 2 December 2006
| term_end3 = 1 January 2009
| predecessor3 = Ishrat Hussain
| successor3 = Syed Salim Raza
| office4 = Vice President of World Bank for Middle East and North Africa
| primeminister4 =
| term_start4 = 1 January 2009
| term_end4 = 6 July 2009
| predecessor4 =
| successor4 =
| birth_date = {{Birth year and age|1954}}
| birth_place = Hyderabad, Sindh, Dominion of Pakistan
| death_date =
| death_place =
| party = Independent
| spouse =
| children =
| alma_mater = University of the West of Scotland (PhD)
University of Sussex (MA)
Quaid-i-Azam University (MSc)
University of the Punjab (BA)
| term_start5 =
| term_end5 =
| office5 =
| primeminister1 = Nasirul Mulk
| primeminister5 =
| president1 = Mamnoon Hussain
| status = Caretaker
}}
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.{{Cite web |date=2023-08-17 |title=Caretaker cabinet of PM Anwaar-ul-Haq Kakar sworn in |url=https://www.geo.tv/latest/505506-caretaker-pm-kakars-cabinet-sworn-in |access-date=2023-08-18 |website=Geo.tv |language=en}}{{Cite web |date=2 February 2014 |title=Biography of Executive Secretary Shamshad Akhtar |url=https://www.unescap.org/executive-secretary/biography |url-status=dead |archive-url=https://web.archive.org/web/20170117025431/https://www.unescap.org/executive-secretary/biography |archive-date=17 January 2017 |access-date=2022-04-11 |website=United Nations ESCAP website}}
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.{{Cite news|url=https://tribune.com.pk/story/643908/former-sbp-governor-appointed-executive-secretary-unescap|title=Former SBP governor appointed Executive Secretary UNESCAP|newspaper=The Express Tribune (newspaper)|date=2013-12-10|language=en-US|access-date=2022-04-11}}
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.{{Cite news|url=https://www.dawn.com/news/168428|title=Dr Shamshad named first SBP woman governor|date=2005-12-04|newspaper=Dawn (newspaper)|access-date=2022-04-11}}
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.{{Cite web|url=https://www.sbp.org.pk/about/governors/profile.htm|title=Profile of Shamshad Akhtar|website=State Bank of Pakistan website|access-date=2022-04-11}}
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.{{Cite web|url=https://blogs.worldbank.org/team/shamshad-akhtar|title=Shamshad Akhtar profile|date=2010-10-25|website=World Bank Blogs|access-date=2022-04-11}}
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.[https://www.un.org/sg/en/content/sg/personnel-appointments/2020-06-29/advisory-committee-and-scientific-group-for-the-2021-food-systems-summit] United Nations, press release of June 29, 2020.
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 {{PKRConvert|2.94|b}}.{{Cite book |title=The Gazette of Pakistan - Extra |publisher=Printing Corporation of Pakistan |year=2023 |publication-date=6 November 2023 |url=http://www.pcp.gov.pk/SiteImage/Downloads/2054(23)(23)Ex.%20Gaz.%20(III)%20ECP%20Assets.pdf |archive-url=https://web.archive.org/web/20240229073031/http://www.pcp.gov.pk/SiteImage/Downloads/2054%2823%29%2823%29Ex.%20Gaz.%20%28III%29%20ECP%20Assets.pdf |archive-date=29 February 2024 |pages=10–13}} Among the mentioned assets are {{PKRConvert|2.8|b}} in Naya Pakistan Certificates, {{PKRConvert|109|m}} in Pakistani treasury bills, shares of Pakistan State Oil worth Rs. 0.3 million, and residential plots in DHA. Akhtar also has more than {{PKRConvert|27|m}} deposited in different banks.{{Cite web |title=PM Kakar declares assets worth Rs48m |url=https://www.thenews.com.pk/latest/1129656-pm-kakar-declares-assets-worth-rs48m-finmin-akhtar-over-rs28bn |access-date=2024-02-29 |website=The News International |language=en}}
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.{{Cite news|url=https://www.dawn.com/news/329353/dr-akhtar-among-top-ten-women-in-asia|title=Dr Akhtar among top ten women in Asia|date=2008-11-11|newspaper=Dawn (newspaper)|access-date=2022-04-11}}
References
{{Reflist}}
External links
- [https://web.archive.org/web/20051125014145/http://www.sbp.gov.pk/ Official website of State Bank of Pakistan]
- [https://web.archive.org/web/20071030013114/http://www.dhartipakistan.com/2007/10/25/shamshad-akhtar-state-bank-of-pakistan-award/ Shamshad awarded “Best Central Bank Governor in Asia” prize]
- [https://archive.today/20130117102131/http://www.allvoices.com/news/1884646/s/24132775-shamshad-visits-native-village-for-first-time Shamshad visits native village for first time]
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{{succession box | before = Ishrat Husain| title = Governor of State Bank of Pakistan|years=| after = Syed Salim Raza }}
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{{Finance Minister of Pakistan}}
{{Governors of the State Bank of Pakistan|state=collapsed}}
{{Mulk Cabinet}}
{{Kakar Cabinet}}
{{Authority control}}
{{DEFAULTSORT:Akhtar, Shamshad}}
Category:Harvard Kennedy School alumni
Category:Governors of the State Bank of Pakistan
Category:Ministers of finance of Pakistan
Category:Alumni of the University of the West of Scotland
Category:People from Hyderabad District, Pakistan
Category:People from Naushahro Feroze District
Category:Alumni of the University of Sussex
Category:University of the Punjab alumni
Category:Quaid-i-Azam University alumni
Category:Under-Secretaries-General of the United Nations
Category:Pakistani expatriates in the United Kingdom
Category:Pakistani expatriates in the United States