The State Bank of Pakistan (SBP) governor’s pay should no longer be set by the bank’s board and should instead be subject to government approval, according to a recommendation issued by the Senate Standing Committee on Finance. In order to formalize this idea, Senator Anusha Rehman advocated for legislation.
Concerns were also expressed regarding a Rs380 million pay hike for Securities and Exchange Commission of Pakistan (SECP) officers, according to information that came to light on Wednesday. According to information provided to the committee, the SBP Governor’s monthly salary, exclusive of additional benefits and allowances, was Rs4 million as of October 2023. The Governor has been called by the committee to provide an explanation of the specifics of the compensation package.
The committee was also made aware of a bill that would regulate virtual assets.
