Muhammad Ali Lodhi has been appointed Deputy Governor of the State Bank of Pakistan for a five-year term.
He assumed charge on October 30, 2025. The government notified the appointment after approval from the federal cabinet.
Lodhi is a career central banker with more than 26 years of experience in monetary policy and exchange rate management.
Until now he served as Executive Director of the Monetary Policy and Research Group, where he led the preparation of economic projections and reports for the Monetary Policy Committee.
His work includes important contributions such as the shift to a market-based exchange rate and the design of Pakistan’s interest rate corridor used to transmit monetary policy.
He also supervised reforms in the primary dealer system for government securities.
SBP Vision 2028
Lodhi played a key role in developing SBP Vision 2028 which outlines the central bank’s long term strategy. He has authored research on inflation, fiscal management and the financial system.
Educational background
He holds a Master’s degree in Development Economics from Williams College in the United States and another Master’s in Economics from the University of Karachi.
Lodhi joins the central bank leadership at a time when monetary stability, inflation control and external account management remain top priorities for policymakers.
