KARACHI: For the first time in the 73 years history of the Pakistan Stock Exchange (PSX), a woman chairperson has been elected to the board of directors.
In the first meeting of the newly elected PSX Board held on Wednesday, Dr Shamshad was unanimously elected as the PSX board chairperson.
A veteran of Pakistan’s financial markets, Dr Shamshad Akhtar has served on various key roles, including caretaker finance minister. Prior to that, she served as the 14th governor of the State Bank of Pakistan (SBP), the first woman to assume this position. She also served as a senior adviser to then secretary general of the United Nations (UN), Ban Ki-moon, vice president of the World Bank (WB) and spearheaded the capital market development reforms during her tenure at the Asian Development Bank (ADB) in the 1990s.
On being elected to the post, Dr Akhtar commented, “I look forward to our joint endeavors to further transform PSX as a premier institution so it can play a critical role in raising its market capitalisation through deepening of debt and equity markets, broadening its investor and product base and service efficiently all its clients upholding high standards of governance”.
On the other hand, PSX CEO Farrukh H. Khan welcomed the appointment saying, “We are particularly excited and proud to have someone of the caliber of Dr Akhtar to be the chairperson of PSX. Her understanding of capital markets and global experience will be invaluable in the development of capital markets and PSX. The fact that she is the first woman to chair PSX adds to our pride and excitement in welcoming her”.