Dr Shamshad Akhtar Appointed Chairperson of PSX Board

Dr Shamshad Akhtar Appointed Chairperson of PSX Board

Islamabad: Former Governor of the State Bank of Pakistan (SBP) and former Caretaker Finance Minister, Dr. Shamshad Akhtar, has been appointed as the Chairperson of the Pakistan Stock Exchange Limited Board of Directors.

In a statement released by PSX on Tuesday, it was announced, "Please be informed that Dr. Shamshad Akhtar, an Independent Director, has been appointed as the Chairperson of the Board of Directors of Pakistan Stock Exchange Limited for the Board’s term of three years that commenced on April 19, 2024."

Dr. Shamshad Akhtar, a prominent figure in the finance sector, shared insights into Pakistan's economy, projecting a growth rate of 2-2.5% for the current year.

The appointment process for directors of PSX is governed by the Companies Act, 2017, the Securities Exchanges (Licensing and Operations) Regulations, 2016, and the Articles of Association of PSX. The regulations stipulate that at least one-third of the total directors on the Board must be independent. The formation of the Board adheres to all applicable regulations concerning listed companies. As a self-listed securities exchange and a leading regulator of listed companies, PSX ensures compliance with all relevant laws, rules, and regulations.

Dr. Shamshad Akhtar's appointment marks a significant milestone as she becomes the first female Chairperson of the PSX Board.

Prior to her appointment as caretaker finance minister in August of last year, Dr. Shamshad Akhtar served in the position until the general elections in February. She made history as the first woman to lead the SBP, serving as its governor from January 2, 2006, for a three-year term. Before her tenure at SBP, Dr. Akhtar held significant roles at the Asian Development Bank (ADB), including Director General and Deputy Director General of the Southeast Asia Department. Additionally, she held the position of Director for the Governance, Finance, and Trade Division for the East and Central Asia Department of ADB.