SBP governors’ salaries, perks cost cash-starved Pakistan dear
SBP governor
ISLAMABAD: (Sumaira Raja) During the last 10 years, one serving and three former governors of the State Bank of Pakistan (SBP) collectively cost the national exchequer more than Rs297 million as salaries, Suno News has learned.

An official document available with the Suno News has revealed that current SBP Governor Jameel Ahmed is getting the highest ever pay of Rs4 million per month with 10 per cent increase per annum under the contract signed.

So far, Mr Jameel Ahmed has received a total of more than Rs115 million as salary in two years so far, the document revealed.

The salary of former SBP Governor Reza Baqir was Rs2.5 million per month while he received a total of Rs90 million during his three-year tenure, the data revealed.

Baqir’s predecessor Tariq Bajwa remained the SBP governor from July 2017 to May 2019 against a monthly salary of Rs1.4 million while he was disbursed a total of over Rs4.89m during nearly three-year tenure, it said.

Likewise, former SBP governor Ashraf Mehmood received a salary of Rs1.2m per month while he received a total salary of Rs4.32 during his three years.

Besides, an SBP chief also enjoys perks and prerequisites such as a furnished house or a large sum of money as an incentive, it said. He/she is provided two luxury vehicles with drivers as part of the perks. He/she also enjoys a 1,000 liters of petrol for vehicles and 1,200 liters for generators installed in the residences per month, the document noted.

He/she is also entitled to buy a 1,800 cc vehicle at book value. In addition, unlimited electricity units, water, gas, mobile phone, telephone and internet facilities are also available for free.

The document maintained that 75% of the school fees of a governor’s children as well as the salaries of his four employees are paid by the government.

The SBP chief is also entitled to medical and entertainment, traveling allowances.

The membership of Governor State Bank Club and payment of monthly charges are also included in the perks. After retirement, the office gets gratuity and provident fund, it revealed.