The Senate Standing Committee on Finance has raised questions about the salary of the State Bank of Pakistan (SBP) Governor. At a meeting chaired by Senator Muhammad Abdul Qadir, members asked for full details of the salaries and allowances of the Governor and Deputy Governor.
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Officials told the committee that in 2019 the SBP Governor’s monthly salary was Rs. 2.5 million, and in October 2023 it was increased by the SBP Board to Rs. 4 million. It was also revealed that former Governor Dr. Reza Baqir had received Rs. 2.5 million per month during his tenure.
Senator Anusha Rehman said that the Governor’s power to decide his own salary must be reviewed, adding that even the President and Prime Minister do not set their own pay.
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The SBP Executive Director explained that the Finance Secretary would be in a better position to provide the exact details of the current packages. The committee directed that both the SBP Governor and Finance Secretary appear in the next meeting to give a full briefing on salaries and allowances.
