Veteran economist and former State Bank of Pakistan (SBP) governor – Dr Shamshad Akhtar has been elected as first ever female chairperson of Pakistan Stock Exchange (PSC).
Dr Shamshad Akhtar was appointed as an independent director on PSX Board of Governors last month and has now been elected as PSX’s first female chairperson.
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“For the first time in the 73-year history of Pakistan Stock Exchange (PSX), a woman Chairperson has been elected on the Board of Directors. In the first meeting of the newly elected PSX Board held on May 4, 2021, Dr Shamshad Akhtar has been unanimously elected as the PSX Board Chairperson,” read the press-release issued by PSX.
Shamshad Akhtar had previously served as 14th Governor of the State Bank of Pakistan and Caretaker Federal Minister of Finance, Revenue, Statistics, Planning, Industries, Production, Commerce and Textile, Privatization.
She has also worked with the World Bank’s Resident Mission in Pakistan as a country economist, along with Asian Development Bank as a senior advisor to Haruhiko Kuroda (former president ADB).
Additionally, Dr Shamshad Akhtar was appointed as the 10th Executive Secretary of UNESCAP in Bangkok in 2013. Meanwhile, in 2020 last year she as appointed by United Nations Secretary-General António Guterres to serve on the Advisory Committee for the 2021 Food Systems Summit, chaired by Inger Andersen.
For her services across various international institutions, Dr Shamshad Akhtar was conferred Best Central Bank Governor for Asia 2007 by the Euromoney Institutional Investor.
In 2008, she was listed amongst the top ten women leaders in Asia by The Wall Street Journal.
Expressing her views on the development, Dr Shamshad Akhtar expressed gratitude and reaffirmed her commitment towards working for Pakistan in this capacity.
“It is a proud moment for me to represent the Pakistan Stock Exchange as its Chairperson,” said Dr Shamshad Akhtar.
“I look forward to our joint endeavors to further transform PSX as a premier institution so it can play a critical role in raising its market capitalization through deepening of debt and equity markets, broadening its investor and product base and service efficiently all its clients upholding high standards of governance,” she added.
Meanwhile, Farrukh H. Khan – CEO PSX, has also praised Dr Shamshad Akhtar’s appointment.
We are particularly excited and proud to have someone of the caliber of Dr. Akhtar, to be the Chairperson of PSX. Her understanding of capital markets and global experience will be invaluable in the development of capital markets and PSX, said the PSX CEO.
