SBP Governor Draws Rs. 2.5 Million Monthly Salary: Finance Division

The Governor of the State Bank of Pakistan (SBP), Dr. Reza Baqir, draws a monthly salary of Rs. 2.5 million, according to a document submitted to the Senate Secretariat by the Finance Division. The latter said in a written reply to a question moved by Pakistan Muslim League-Nawaz (PML-N) Senator Irfan Siddiqui that Dr. Baqir’s monthly salary is Rs. 2.5 million, with an annual 10 percent increment. Apart from the monthly salary, the SBP Governor is also entitled to “furnished and maintained (State) Bank House or House Rent Allowance with furnishing and maintenance by the Bank (as approved by the SBP Board)”. Other perks and facilities include two fully maintained chauffeur-driven cars with a petrol ceiling of 600 liters. In terms of utilities, actual expenses of electricity, gas, water, and fuel for the standby generator will also be provided by the SBP. The governor is also entitled to 75 percent of the total tuition fees of his children and the facility free landline, mobile phones, and internet access. For domestic help, the governor is reimbursed the actual salary paid for up to four servants, at Rs. 18,000 per head. Moreover, the governor gets 24 hours security as per requirement, including security guards and a security system. The governor can also avail of full medical facilities as per the SBP’s rules, according to the written reply. The gratuity includes one month’s monetized salary for each completed year of service on the last drawn salary. Other amenities include the reception of traveling allowance, relocation expenses, and post-retirement benefits sanctioned by the SBP Board. The senator had also asked whether the SBP Governor was previously an employee of the International Monetary Fund (IMF), the written reply submitted by the Finance Division detailed that prior to his appointment as the SBP Governor, Dr. Baqir had worked with the IMF for eighteen years.