The State Bank of Pakistan’s (SBP) Governor and three Deputy Governors received a combined Rs182.53 million in salaries and benefits in FY26, up 92 percent from Rs93.97 million in the previous financial year, according to the central bank’s annual financial statements.

The increase amounted to Rs88.55 million in a single year, taking the four officials’ combined remuneration to nearly double its FY25 level.

Payments to non-executive members of the SBP Board of Directors rose 125 percent to Rs25.16 million in FY26 from Rs11.15 million a year earlier.

The external member of the Monetary Policy Committee received Rs8.43 million during the year, compared with Rs7.62 million in FY25.

Meanwhile, total salaries and benefits for SBP staff increased by Rs91.18 million, or 8.4 percent, to approximately Rs1.16 billion.

The combined increase in remuneration for senior management, non-executive directors, the external Monetary Policy Committee member and staff amounted to around Rs193.5 million during FY26.

The increases came as the central bank’s profit declined 20 percent to Rs1,992 billion, down from Rs2,499 billion in FY25. The year-on-year drop amounted to Rs507 billion.

During FY26, the SBP continued managing the exchange rate through its policy tools and worked on expanding digital banking and promoting a cashless economy. The rollout of new banknotes, however, remained pending, while concerns over banking services continued.

The central bank defines key management personnel as officials responsible for planning, directing and controlling its operations, including Board members, the Governor, Deputy Governors and other executives.

The President appoints the SBP Governor, while the federal government appoints Deputy Governors. The appointing authority determines the fees paid to non-executive members of the Board.