The correct answer is Zahid Hussain.
Zahid Hussain was the trailblazing first Governor of the State Bank of Pakistan (SBP). He served in this vital role from June 10, 1948, to July 19, 1953, laying down the financial and regulatory foundations of the newly born state.
The Inauguration and Historical Context:
- The SBP Establishment: Following the partition of the subcontinent in 1947, the Reserve Bank of India initially managed the currency of both nations. To ensure economic independence, Quaid-e-Azam Muhammad Ali Jinnah officially inaugurated the State Bank of Pakistan on July 1, 1948.
- Financial Legacy: Zahid Hussain took charge during a period of extreme economic instability. Under his leadership, the central bank successfully launched Pakistan's initial national currency notes, established administrative structures, and decoupled the nation's banking system from India.
- Other Contributions: Beyond his landmark tenure at the SBP, Zahid Hussain was an accomplished bureaucrat who served as Pakistan's first High Commissioner to India and later became the first Chairman of the Planning Commission, helping draft the country's First Five-Year Economic Plan.
Comparison of the Options:
- Qasim Parekh: A prominent banker who served much later as the 11th Governor of the State Bank of Pakistan from 1989 to 1990.
- V.A. Jaffery: Served as the 12th Governor of the State Bank of Pakistan from 1990 to 1993.
- Abdul Qadir: Served as the 2nd Governor of the State Bank of Pakistan, succeeding Zahid Hussain from 1953 to 1960.
- Zahid Hussain: The correct answer; he was personally chosen to be the pioneer chief executive of the national bank.
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