Pakistan’s political and economic leadership on Saturday expressed deep sorrow over the passing of Dr Shamshad Akhtar, former governor of the State Bank of Pakistan (SBP) and caretaker federal minister for finance, hailing her as a towering figure in the country’s economic history and a globally respected technocrat. Dr Shamshad, 70, passed away suddenly, according to family sources. She was not suffering from any serious illness. Her funeral prayers will be offered after Asr on Sunday (today) at Sultan Mosque, DHA, Karachi. President Asif Ali Zardari, in a condolence message shared by his spokesperson, expressed profound grief over her demise and paid tribute to her distinguished services in economics and financial management. He prayed for the elevation of the departed soul’s ranks and extended heartfelt condolences to the bereaved family. Prime Minister Shehbaz Sharif described Dr Shamshad as a renowned economist and devoted public servant who made outstanding contributions to strengthening Pakistan’s financial architecture.  “She served the nation with distinction. My heartfelt condolences and prayers are with her family,” he said. Former caretaker prime minister Anwaar ul Haq Kakar said Pakistan had lost “an exceptional mind,” praising her clarity of thought, intellectual rigour and rare integrity in public service. Tributes also poured in from across the political spectrum and international institutions. Senator Sherry Rehman called her an “excellent, upright technocrat” who commanded respect in all quarters. Advisor to Finance Minister Khurram Schehzad described her as “an institution in herself,” noting her contributions at the World Bank, United Nations and Pakistan’s economic institutions, and recalled her mentorship and guidance with deep gratitude. International organisations also paid tribute. The Asian Development Bank (ADB) said Dr Shamshad’s leadership and policy contributions had left a lasting impact on development in the region, while UK High Commissioner Jane Marriott described her as “a true great of Pakistan” whose work was critical in stabilising the country’s economy. Dr Shamshad Akhtar was a globally respected economist and diplomat. She served as United Nations Under-Secretary-General and Executive Secretary of ESCAP, led UN-wide coordination for the post-2015 development agenda and acted as the UN Sherpa for the G20. At the World Bank, she served as Vice President for the Middle East and North Africa, leading the institution’s response to the Arab Spring, and spent 15 years at the Asian Development Bank in senior roles. Her tenure as SBP governor earned her international recognition, including consecutive “Asia’s Best Central Bank Governor” awards from Emerging Markets and The Banker. In June 2024, she was appointed chairperson of the Pakistan Stock Exchange Board, becoming the first woman to lead the country’s capital market. An accomplished academic, Dr Shamshad was a Fulbright Fellow at Harvard University and held a PhD and Master’s degree in Development Economics from the UK, along with an MSc in Economics from Quaid-e-Azam University. With her passing, Pakistan has lost a rare blend of intellect, integrity and global stature — a public servant whose legacy will continue to guide the country’s economic discourse for years to come.