The Senate Standing Committee on Finance, chaired by Senator Muhammad Abdul Qadir, requested details of the salaries and allowances of the Governor and Deputy Governor of the State Bank of Pakistan (SBP).
Officials informed the committee that in 2019, the SBP Governor’s monthly salary was set at Rs. 2.5 million. In October 2023, the SBP Board revised the figure upward, fixing the Governor’s salary at Rs. 4 million. The committee was also briefed that former SBP Governor Dr. Reza Baqir drew a monthly salary of Rs. 2.5 million during his tenure.
Senator Anusha Rehman emphasized that the Governor’s authority to unilaterally determine his own salary should be reviewed. “Even the President and Prime Minister do not fix their own salaries and privileges,” she remarked.
Responding to questions, the SBP Executive Director stated that details of the current salary packages could be better explained by the Finance Secretary in the upcoming session.
The committee instructed that the SBP Governor and Finance Secretary must present the full salary and allowances package in the next meeting.
The committee directed both the SBP Governor and the Finance Secretary to appear at the next meeting to provide a comprehensive briefing on the current compensation packages.
