As Governor of the State Bank of Pakistan, Dr Akhtar played
a historic role in strengthening monetary governance and safeguarding
macroeconomic stability during a period of global uncertainty and domestic
pressures. She believed deeply in rule-based policymaking, central bank
independence, and prudent regulation—principles she defended with quiet
firmness rather than public theatrics. Under her stewardship, the SBP emerged
as a more credible, resilient, and professionally anchored institution.
Her contribution did not end there. As Chairperson of the
Pakistan Stock Exchange, she brought the same clarity of purpose and ethical
rigor to capital markets. At a time when speculation often overshadowed
substance, Dr Akhtar consistently advocated transparency, investor confidence,
and long-term market development. She understood that markets thrive not on
hype, but on trust—and she worked tirelessly to nurture that trust.
On a personal level, Dr Shamshad Akhtar commanded respect
without demanding it. She carried herself with grace, intellectual humility,
and an unshakeable sense of responsibility to the public good. She inspired
younger professionals—especially women—by demonstrating that excellence, not
patronage, is the true currency of leadership. Her presence reassured
colleagues that professionalism still had a place in Pakistan’s policy circles.
Dr Akhtar’s legacy will endure in the institutions she
strengthened and the standards she set. In a system often vulnerable to
expediency, she stood for consistency. In an environment prone to excess, she
represented restraint. Pakistan has lost not just a former central bank
governor or market regulator, but a guardian of financial discipline.
May her soul rest in peace. Her contributions will be
remembered long after the noise of the moment fades, etched quietly but firmly
into the country’s economic history.
