The State Bank of Pakistan (SBP) has reported a substantial increase in the remuneration of its top leadership. According to the central bank’s annual financial statements for fiscal year 2025-26, the SBP governor salary package and the benefits for three deputy governors rose by 94 percent. The combined total for these four officials reached Rs 182.53 million, compared to Rs 93.97 million in the previous fiscal year.
This sharp rise in executive compensation occurred during a period where the SBP—Pakistan's central bank responsible for monetary policy and regulating the banking sector—saw its reported profit decline. The bank's profit fell by approximately 20 percent, dropping from Rs 2,499 billion in FY25 to Rs 1,992 billion in FY26.
Breakdown of Executive and Board Remuneration
The financial disclosures indicate that the increase was not limited to the Governor and Deputy Governors. The non-executive members of the SBP Board of Directors also saw a significant hike in their combined remuneration. Their payments rose from Rs 11.15 million to Rs 25.16 million, marking a 126 percent increase.
Additionally, the external member of the Monetary Policy Committee (MPC)—the body that decides on interest rates—received Rs 8.43 million, up from Rs 7.62 million the year prior. While the top-tier management saw nearly a doubling of their packages, the broader SBP staff received a more modest increase. Total staff salaries and benefits grew by 8.4 percent, amounting to roughly Rs 1.16 billion.
Governance and Appointment Structure
Under the current legal framework, the Governor of the State Bank of Pakistan is appointed by the President of Pakistan. The Deputy Governors are appointed by the federal government. The remuneration for non-executive Board members is determined by the specific appointing authority.
According to ProPakistani, the total increase in remuneration across top management, board members, and staff amounted to approximately Rs 193.5 million during the fiscal year.
Operational Context and Performance
Despite the decline in profit, the SBP remained active in managing the exchange rate and pushing for digital banking initiatives. The central bank has been working toward a cashless economy, though the introduction of new banknotes remained pending during this period. The SBP governor salary package remains a point of public interest as the institution balances its role in inflation control and financial stability with its internal administrative costs.