Jameel Ahmed, the current Governor of the State Bank of Pakistan, was appointed on August 26, 2022, for a five-year term. Recently, the National Assembly has provided detailed information about the State Bank Governor’s salary, shedding light on his substantial compensation package, and the figures are quite astonishing. Jameel Ahmed is currently drawing a substantial monthly salary of PKR 4.8 million.
When he first assumed office, the state bank governor’s salary was set at PKR 4 million monthly, reflecting an annual increase of 10%. This significant rise in his compensation highlights the generous financial package associated with his position, raising eyebrows in the context of the country’s ongoing economic challenges.
The irony is striking: in a country like Pakistan, where middle- to lower-class citizens struggle to make ends meet, their expenses far outpacing their incomes, the elite and powerful continue to enjoy increasing perks, privileges, and ever-growing compensation packages. While many grapple with financial hardship, those in high-ranking positions see their benefits and influence steadily rise, highlighting the stark contrast between the struggles of the average citizen and the advantages afforded to the country’s elite.
It is pertinent to mention here that besides having such a high state bank governor’s salary, Jameel Ahmed enjoys a fully furnished house and two luxury vehicles with drivers. In addition to 1,200 liters of petrol, the State Bank also provides fuel for the generator at his residence. The Governor receives unlimited free utilities, including electricity, water, gas, mobile phone, telephone, and internet services. Additionally, 75% of the school fees for the Governor’s children are covered by the government. The salaries of four of his household staff are also paid by the bank.
Along with medical and entertainment allowances, the Governor is entitled to a traveling allowance. Membership and monthly charges for the Governor’s club are also part of his perks. Upon retirement, the Governor will receive gratuity and a provident fund. Moreover, he has the option to purchase an 1800cc vehicle at its book value. Thus, the National Assembly’s recent disclosure sheds light on the State Bank Governor’s salary and allowances, revealing the extensive compensation structure
It should be noted that the former state bank governor’s salary was PKR 2.5 million. Thus, the growing disparity between the average citizen and the elite in Pakistan is hard to ignore. While many people face mounting financial challenges, those in powerful positions continue to enjoy significant benefits and salary increases. This widening gap underscores the need for a more balanced approach to compensation and support, ensuring that the needs of all citizens, not just the privileged few, are addressed.
