HOME

TheInfoList



OR:

Shaukat Aziz ( ur, ; born 6 March 1949) is a Pakistani former banker and financier who served as 17th
prime minister of Pakistan The prime minister of Pakistan ( ur, , romanized: Wazīr ē Aʿẓam , ) is the head of government of the Islamic Republic of Pakistan. Executive authority is vested in the prime minister and his chosen cabinet, despite the president of Pak ...
from 28 August 2004 to 15 November 2007, as well as the finance minister of Pakistan from 6 November 1999 to 15 November 2007. During his childhood he studied at St Patrick's High School, Karachi. Aziz graduated from the Institute of Business Administration in
Karachi Karachi (; ur, ; ; ) is the most populous city in Pakistan and 12th most populous city in the world, with a population of over 20 million. It is situated at the southern tip of the country along the Arabian Sea coast. It is the former c ...
, and joined the corporate staff of the CitiBank Pakistan in 1969. He served in various countries' governments as CitiBank financier, and became executive vice-president of Citibank in 1999. After accepting a personal request by General Pervez Musharraf, Aziz returned to Pakistan from the United States to assume charge of the
Finance Ministry A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation. A finance minister's portfolio has a large variety of names around the world, such as "treasury", ...
as its finance minister while taking control of the country's economy. In 2004, Aziz was nominated by the Musharraf loyalist government led by
Pakistan Muslim League (Q) The Pakistan Muslim League (Quaid e Azam Group) ur, ; ''Pākistān Muslim Līg (Qāf)'', Acronyms: PML(Q), PML-Q, PMLQ, "Q League") is a Conservative nationalist political party in Pakistan. As of the 2018 parliamentary election, it has a ...
, to the position of prime minister after the resignation of Zafarullah Khan Jamali on 6 June 2004. Aziz's macroeconomics policies oversaw political stability and economic progress in Pakistan, subsequently ending the "era of stagflation" in 2001. Intensified privatisation and economic liberalisation programmes were personally initiated by Aziz, privatising state-owned corporations and strengthening the country's economic base, which led to the improvement of the country's growth rate by 6.4% per year. Poverty and inflation rates dropped to 3.5% in the last 3 years, compared to 11–12% in the 1990s. For the first time in Pakistan's history, all goals and revenue collection targets were met in his tenure, and allocation for development increased by about 40%. Moreover, despite a series of internal and external distresses, the economic situation of Pakistan improved significantly and reserves increased to US$10.5 billion on 30 June 2004, compared to US$1.2 billion in October 1999. As prime minister, Aziz oversaw the large-scale expansion of military reforms, police reforms, and significant investment in the country that led to the boom of the
automotive industry The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. It is one of the world's largest industries by revenue (from 16 % ...
, energy megaprojects, nuclear industry, and the port industry, and presided over unprecedented GDP growth. Aziz's policy expanded the
internet The Internet (or internet) is the global system of interconnected computer networks that uses the Internet protocol suite (TCP/IP) to communicate between networks and devices. It is a '' network of networks'' that consists of private, p ...
and telecommunication services, and liberalised the private media of Pakistan as his vision to internationalise the image of the country.


Education

Shaukat Aziz was born in Karachi, Sindh Province of Pakistan on 6 March 1949. He studied at Saint Patrick's School, Karachi and Abbottabad Public School, Abbottabad, Pakistan. His father, S.A. Aziz (sometimes Abdul Aziz) was a
radio engineer Broadcast engineering is the field of electrical engineering, and now to some extent computer engineering and information technology, which deals with radio and television broadcasting. Audio engineering and RF engineering are also essential par ...
employed in the state-owned
Pakistan Broadcasting Corporation Radio Pakistan serves as the national public broadcaster for radio in Pakistan. Although some local stations predate Radio Pakistan's founding, it is the oldest existing broadcasting network in Pakistan. The network was established on 14 August ...
(PBC) as chief engineer. His father, S.A. Aziz was noted for making singular contributions in the development of Radio Pakistan and was the architect of its external services; for this his father was conferred with state honours by the government of Pakistan in the 1950s. S.A. Aziz was one of the pioneers who nurtured Radio Pakistan in its days of infancy, and chartered the future roadmap for expansion of its network and technological advancement and growth. The PBC moved his family to
Abbottabad Abbottabad (; Urdu, Punjabi language(HINDKO dialect) آباد, translit=aibṭabād, ) is the capital city of Abbottabad District in the Hazara region of eastern Khyber Pakhtunkhwa, Pakistan. It is the 40th largest city in Pakistan and fourt ...
, North West Frontier Province and attended the Abbottabad Public School, and later the family moving back to Karachi. Aziz matriculated and obtained high-school diploma from Saint Patrick's High School and proceeded Government College now GCU In Lahore where he passed his inter-level and ascended to attend the Gordon College of Rawalpindi, Punjab province in 1965. Aziz obtained a BS degree in Economics in 1967 from Gordan College and moved back to Karachi the same year to enroll in a master's programme. Aziz attended the master's programme of the Institute of Business Administration (IBA) in Karachi and obtained MBA in business administration in 1969. While at the IBA, Aziz secured the internship of U.S.-based
Citibank Citibank, N. A. (N. A. stands for " National Association") is the primary U.S. banking subsidiary of financial services multinational Citigroup. Citibank was founded in 1812 as the City Bank of New York, and later became First National City ...
, and after his master's degree, Aziz was called to join the executive senior staff of the Citibank, based in the United States.


Career in Citigroup

Initially, Aziz joined the corporate branch of Citibank Pakistan as its credit officer in 1969. During his career, Aziz subsequently served in various countries including Pakistan, Greece, United States, United Kingdom, Malaysia, Philippines, Jordan, Saudi Arabia and Singapore. After arriving to assume the charge of corporate assignment in the United States, Aziz settled in New York City and took over the office operations of Citibank at the
Empire State Building The Empire State Building is a 102-story Art Deco skyscraper in Midtown Manhattan, New York City. The building was designed by Shreve, Lamb & Harmon and built from 1930 to 1931. Its name is derived from " Empire State", the nickname of the ...
. Aziz acquired permanent residence status, but did not acquire
American citizenship Citizenship of the United States is a legal status that entails Americans with specific rights, duties, protections, and benefits in the United States. It serves as a foundation of fundamental rights derived from and protected by the Constituti ...
, whilst continuing to upgrade his legal status. In the U.S., Aziz held numerous positions in Citibank across several divisions including Corporate and Investment Banking (CIB), Corporate Planning Officer (CPO), Chief Financial Officer of Citicorp and managing director of Citibank Singapore. He has been a board member of Citibank subsidiaries, including Saudi American Bank, Citicorp Islamic Bank, and of several non-profit organizations. Aziz played a pivotal rôle in expanding Citibank branches and corporate directive operations throughout the country and was instrumental in bringing multinational banking industries into Pakistan in the 1990s. At Citibank, Aziz served as the corporate director of Asia Pacific global finance operations and had been notable for financing and managing funds on behalf of Citibank and other financial corporations in global stock markets. He was also involved with
Citi Private Bank Citi Private Bank, a subsidiary of multinational banking conglomerate Citigroup, markets Private banking services for ultra high-net-worth individual clients, including entrepreneurs and senior corporate executives. It has 60 offices in 23 coun ...
, a subsidiary of Citigroup. Aziz regarded his career in Citigroup as "extremely helpful" in preparing him for the executive public office, in 2006. Aziz continued to visit Pakistan, working to expand Citibank's financial services and banking, overseeing the wide expansion of Citigroup's branches and its influence in Pakistan. In the 1990s, he worked closely with the governments of Benazir Bhutto and
Nawaz Sharif Mian Muhammad Nawaz Sharif (Urdu, Punjabi: ; born 25 December 1949) is a Pakistani businessman and politician who has served as the Prime Minister of Pakistan for three non-consecutive terms. He is the longest-serving prime minister of Pak ...
to help negotiate economic relief packages and aid to Pakistan, while maintaining diverse relations with Pakistan's Armed Forces who would also visit the United States as part of Sharif's and Benazir Bhutto's state visits. By the 1990s, Aziz had established many notable contacts within the United States administration. In a book, ''Global Financial Warrior'', written by John B. Taylor, Aziz had substantial access to the US Treasury,
World Bank The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Inte ...
and many other world financial institutions. Aziz worked closely with the United States in order to finance U.S. war games and operations. Aziz knew the volumes of secretive methods of transferring funds in and out of South Asia, particularly clandestine financing of nuclear weapons programmes of
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area, the List of countries and dependencies by population, second-most populous ...
and
Pakistan Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's List of countries and dependencies by population, fifth-most populous country, with a population of almost 24 ...
at its most, Taylor maintained.


Finance Minister

Shaukat Aziz had been a president of
Citi Private Bank Citi Private Bank, a subsidiary of multinational banking conglomerate Citigroup, markets Private banking services for ultra high-net-worth individual clients, including entrepreneurs and senior corporate executives. It has 60 offices in 23 coun ...
in New York before returning to Pakistan in 1999. Shortly, General Pervez Musharraf arrived for a small personal trip to the United States after staging a
coup d'état A coup d'état (; French for 'stroke of state'), also known as a coup or overthrow, is a seizure and removal of a government and its powers. Typically, it is an illegal seizure of power by a political faction, politician, cult, rebel group, m ...
to deposed the people-elected prime minister Navaz Sharif on 12 October 1999. On 26 November 1999, while addressing a gathering of influential lobbyists of the Pakistani American community, a political lobbying sub-body of the Association of Pakistani Physicians of North America (APPNA), Musharraf stated that: "Shaukat Aziz has come to Pakistan with forty other financial experts who have offered free service to revive Pakistan's national economy".(looks like a cache of an early WP article) After a brief session, Musharraf asked Shaukat Aziz to stand up and introduce himself to the audience. Aziz reportedly returned with Musharraf in November 1999 and took charge of the
Finance ministry A finance minister is an executive or cabinet position in charge of one or more of government finances, economic policy and financial regulation. A finance minister's portfolio has a large variety of names around the world, such as "treasury", ...
as its Finance Minister. Aziz took control of the economy with responsibility for
Finance Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of f ...
, Economic Affairs, Statistics Division, Planning and Development, and revenue divisions. As Minister of Finance Aziz also headed the Economic Coordination Committee of the Cabinet, the Cabinet Committee on Investment, the executive committee of the National Economic Council, and the Cabinet Committee on Privatization. As Finance minister, all state-owned mega-corporations came under the government-ownership while restructuring each mega-corporation to set off to privatisation. During his first days, Aziz worked to control the economy in a difficult and hostile environment with then-President
Muhammad Rafiq Tarar Muhammad Rafiq Tarar (; ur, ; 2 November 1929 – 7 March 2022) was a Pakistani politician and jurist who served as the ninth president of Pakistan from January 1998 until his resignation in June 2001, and prior to that as a senator from Pu ...
who called him "an alien", and many among those who were close to deposed prime minister
Nawaz Sharif Mian Muhammad Nawaz Sharif (Urdu, Punjabi: ; born 25 December 1949) is a Pakistani businessman and politician who has served as the Prime Minister of Pakistan for three non-consecutive terms. He is the longest-serving prime minister of Pak ...
and Benazir Bhutto. Other politicians including Fazal-ur-Rehman and
Ameen Faheem Makhdoom Muhammad Ameen Faheem ( ur, ; ''alt. spelling'': Amin Fahim; 4 August 1939 – 21 November 2015) was a Pakistani populist left-wing figure and a poet. He was the senior vice-chairman of Pakistan Peoples Party, chairman of Pakist ...
became hostile towards Aziz and his policies; and harboured grave doubts about him because Aziz was not like a traditional politician in the country, an accredited politician. Initially there was a decline in the economy, and Aziz attributes this as "state (Pakistan) unpleasant relations with international financial institutions. There was a ~70% decline in the national economy with the loss of $150 million (1999) to $600 million (2000), which constituted 0.21% of
foreign direct investment A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct c ...
(FDI) global flow. Aziz took initiatives for FDI offering incentives to foreign investors with his
macroeconomic Macroeconomics (from the Greek prefix ''makro-'' meaning "large" + ''economics'') is a branch of economics dealing with performance, structure, behavior, and decision-making of an economy as a whole. For example, using interest rates, taxes, an ...
policies, taxation framework and a consistent investment policy. After the 11 September attacks in the United States and Pakistan's role in the
War on Terror The war on terror, officially the Global War on Terrorism (GWOT), is an ongoing international counterterrorism military campaign initiated by the United States following the September 11 attacks. The main targets of the campaign are militant ...
, Aziz travelled to the United States in order to negotiate a relief and
U.S. aid to Pakistan Pakistan receives foreign aid from several countries and international organizations. Since the start of the War in Afghanistan, the majority of the aid comes from the United States via the Coalition Support Fund which is reimbursement to Paki ...
. He closely worked with US Secretary of the Treasury on the detail of the devised plan on how to remove the Taliban from Afghanistan, cancellation and debt relief, loans from the World Bank, and direct support from U.S. Aid for national public development. Aziz recommended policies and new plan of economic reforms, including the improved budgetary transparency and spending controls— a plan that was widely accepted by the United States. With the help from
United States Department of the Treasury The Department of the Treasury (USDT) is the national treasury and finance department of the federal government of the United States, where it serves as an executive department. The department oversees the Bureau of Engraving and Printing and ...
, Aziz thwarted individuals, difficulties and obstacles to achieve success in his economic programmes. In 2002, Aziz worked with U.S. administration to help advise the United States to finance the war in Afghanistan. In the words of John B. Taylor, Aziz suggested that U.S. should call out for a meeting of finance ministers of the G7 member countries, where the illicit funding of money would become a great problem for G7 countries in the future. In April 2002, Aziz chaired a ''historical'' meeting on behalf of Pakistan and the United States, helping the G7 members to understand how the illicit money was transferred was shared with the finance ministers of G7 members and Pakistan on other side. In 2001, Aziz implemented and activated the Privatization Programme (first founded by former prime minister
Nawaz Sharif Mian Muhammad Nawaz Sharif (Urdu, Punjabi: ; born 25 December 1949) is a Pakistani businessman and politician who has served as the Prime Minister of Pakistan for three non-consecutive terms. He is the longest-serving prime minister of Pak ...
in 1991) and opened all state-owned enterprises (SOEs) to private sector. This programme undertook the country into rapid economic growth and extreme level of industrialisation the country had for yet seen since 1972. After the 2002 general elections, Aziz intensified his programme and aggressively implemented economic liberalisation policies in the country. Aziz's financial policies came under surrounding controversies, creating new problems for Prime minister Zafarullah Khan Jamali to counter who was forced to resign the office in his favour. His affordable real estate scheme encouraged common men to afford a house and a vehicle on low investment, but on the other hand, this scheme brought an increase violation of zoning regulations in construction companies. Although, Zafarullah Khan Jamali controlled the inflation at its low level, his deregulation policies of price control caused the oil and sugar prices to skyrocket. His public and liberalisation of economy policy expanded the political role of Supreme Court of Pakistan in a higher level of the government and to target high-level of government corruption independently without government interferences. By October 2007, at the end of Prime Minister Shaukat Aziz's tenure, Pakistan raised back its Foreign Reserves to $16.4 billion. Pakistan's trade deficit was at $13 billion, exports were $18 billion, revenue generation was $13 billion and attracted foreign investment was $8.4 billion. Pakistan's fiscal performance was praised by IMF and World Bank. The World Bank further reiterated that Pakistan's economic growth bolstered international confidence. IMF's new South Asia director Mr. George Abed, said he was "very pleased with the record of Pakistan in the past three years of continued macroeconomic and financial stabilisation and we have begun to think of Pakistan as a country of promise and a country of potentially high rate of growth". The Asian Development Bank also praised Pakistan's Micro-Finance. In 2001, Mr. Aziz was also named "Finance Minister of the Year" by ''Euromoney'' and ''Bankers'' magazines.


Assassination attempt

While campaigning on 30 July 2004, Aziz survived an assassination attempt in the
Attock District Attock District (Urdu and pnb, ) is a district in Pothohar Plateau of the Punjab Province of Pakistan. Its capital is Attock city. The district was created in April 1904 by the merging of tehsils of nearby districts. Its former name was ...
of
Punjab, Pakistan Punjab (; , ) is one of the four provinces of Pakistan. Located in central-eastern region of the country, Punjab is the second-largest province of Pakistan by land area and the largest province by population. It shares land borders with the ...
. The suicide bomb attack was staged in
Fateh Jang Fateh Jang (Punjabi and ur, ) is a city in Attock District of Punjab Province, Pakistan. It is located from Attock City, and nearly southwest of Islamabad, Pakistan's capital near M1 motorway. Overview The city is located in between Kala C ...
, a small town to the north of the capital, Islamabad, where Aziz was contesting an election. The attempt was made when Aziz was departing after meeting with constituents. A suicide bomber, who was travelling with the Aziz motorcade, detonated the device next to the car in which Aziz was travelling, killing himself and Aziz's chauffeur, as well as six others. Aziz called the incident "tragic," and said it had claimed the lives of innocent people. He added that it had reinforced his resolve to serve Pakistan and the Islamic world. After safely reaching Islamabad, Aziz instigated a probe, while the foreign office contacted its mission in Egypt to try to determine the veracity of an Al Qaeda claim of responsibility. Ten suspected
Al-Qaeda Al-Qaeda (; , ) is an Islamic extremist organization composed of Salafist jihadists. Its members are mostly composed of Arabs, but also include other peoples. Al-Qaeda has mounted attacks on civilian and military targets in various countr ...
perpetrators were arrested in Egypt and later extradited to Pakistan for the crime.


Prime minister

By 2004, Aziz had become a right hand of general Musharraf, as Musharraf described in his memoirs. The strong oligarch business class of Pakistan, notably Chaudhry Shujaat Hussain, had been impressed by Shaukat Aziz's performance as finance minister. Following the resignation of
Mir Zafarullah Khan Jamali Mir Zafarullah Khan Jamali (; 1 January 1940 – 2 December 2020) was a Pakistani politician who served as the 15th prime minister of Pakistan from 2002 until his resignation in 2004. He was the first and only elected prime minister from Balochi ...
on 26 June 2004, Hussain nominated Aziz for the office of prime minister and was also a top choice for the candidacy of prime ministerial post by Musharraf. However, Aziz was not a member of the
National Assembly In politics, a national assembly is either a unicameral legislature, the lower house of a bicameral legislature, or both houses of a bicameral legislature together. In the English language it generally means "an assembly composed of the r ...
, although he was a
Senator A senate is a deliberative assembly, often the upper house or chamber of a bicameral legislature. The name comes from the ancient Roman Senate (Latin: ''Senatus''), so-called as an assembly of the senior (Latin: ''senex'' meaning "the el ...
. As required by the constitution, the prime minister had to be a member of the National Assembly. Aziz was highly regarded as a "technocrat" and had gained the trust of the establishment, international institutions and public support. His nomination came after another technocrat-economist, Dr.
Manmohan Singh Manmohan Singh (; born 26 September 1932) is an Indian politician, economist and statesman who served as the 13th prime minister of India from 2004 to 2014. He is also the third longest-serving prime minister after Jawaharlal Nehru and Indir ...
, became the
prime minister of India The prime minister of India (IAST: ) is the head of government of the Republic of India. Executive authority is vested in the prime minister and their chosen Council of Ministers, despite the president of India being the nominal head of the ...
and Aziz was widely seen as compatible with his Indian counterpart. Having been described and labelled as an urban gentlemen and smartly dressed, Aziz was tasked with day-to-day running of the federal government and see that policies were more effectively executed while Musharraf handled the military issues. In Pakistan, it was also said that Musharraf blindly trusted Aziz and sometimes, Musharraf's approvals were not needed for the projects that normally required permission. Aziz quietly and more quickly undermined the elements seeking to undermine Musharraf which may have been a factor that Musharraf had blindly trusted Aziz. The post was held by Chaudhry Shujaat Hussain while Aziz fulfilled the constitutional requirement of securing a seat in the lower house of
parliament In modern politics, and history, a parliament is a legislative body of government. Generally, a modern parliament has three functions: representing the electorate, making laws, and overseeing the government via hearings and inquiries. Th ...
. Aziz ran from two constituencies, Tharparkar-I in Sindh, and
Attock District Attock District (Urdu and pnb, ) is a district in Pothohar Plateau of the Punjab Province of Pakistan. Its capital is Attock city. The district was created in April 1904 by the merging of tehsils of nearby districts. Its former name was ...
. Even after the assassination attempt, Aziz continued campaigning and won from both constituencies. Since he could retain only one seat, he immediately vacated his Tharparkar seat, preferring to represent Attock, where he had won by 76,156 votes to 29,497.


Election as Prime Minister

Aziz was elected prime minister by parliament on 27 August 2004, by a vote of 191 to 151 in the National Assembly of Pakistan, and was sworn in on 28 August 2004. Pakistan Media labelled him as "Short Cut Aziz" because of lack of political background and hardly affiliation to any political party and still managed to land on the prime ministerial office. Whilst, international media labelled him ''Urban gentlemen'', as he was soft-spoken and greeted his guests with great gesture and manners. He retained his position as Minister of Finance. His government introduced and featured extremely qualified and new faces in the political area of the country, including Hina Rabbani Khar (economic ministry), Hafeez Shaikh (investment ministry), Khurshid Kasuri (Foreign ministry), and Atta ur Rahman (as science adviser). Many of these technocrats ascended to join the successive governments and embark on successful career in the politics thereafter. Aziz left office on 16 November 2007, at the end of the parliamentary term and became the first prime minister of Pakistan who left seat after completion of parliamentary term of five years.


Domestic reforms

Aziz successfully oversaw the rapid development of the local government system in Pakistan as part of his "Strengthening Decentralisation" program. His domestic initiatives including the decentralisation in the country, and termed the local government system as "more transparent and accountable". Aziz strengthened the policy formats and area of responsibility of National Reconstruction Bureau (NRB) after appointing Daniyal Aziz in 2005. Aziz carried out major reforms in Law enforcement agencies, Police forces, and
court system A court is any person or institution, often as a government institution, with the authority to adjudicate legal disputes between parties and carry out the administration of justice in civil, criminal, and administrative matters in accorda ...
in the country. In 2005, Aziz's government installed 6,000 water supply and sanitation filter plants in entire, through the Khushal Pakistan (lit. Prospered Pakistan) programme, a scheme founded by
Nawaz Sharif Mian Muhammad Nawaz Sharif (Urdu, Punjabi: ; born 25 December 1949) is a Pakistani businessman and politician who has served as the Prime Minister of Pakistan for three non-consecutive terms. He is the longest-serving prime minister of Pak ...
in the 1990s. As prime minister, Aziz took hard stance against rivals and took a hardline against his political challengers. Aziz thrashed the Alliance for Restoration of Democracy (ARD) led by conservative leader
Javed Hashmi Makhdoom Muhammad Javed Hashmi ( ur, مخدوم محمد جاوید ہاشمی; born 1 January 1948), is a Pakistani politician, political realist, and a senior conservative thinker on the platform of Pakistan Muslim League (N). After serving ...
who was placed in military prison on treason charges, on a support provided by Aziz. His hardline and tough counter active measures forced
Pakistan Peoples Party The Pakistan People's Party ( ur, , ; PPP) is a centre-left, social-democratic political party in Pakistan. It is currently the third largest party in the National Assembly and second largest in the Senate of Pakistan. The party was founded i ...
of Benazir Bhutto and
Pakistan Muslim League-N The Pakistan Muslim League (Nawaz) ( ur, , translit=Pākistān Muslim Līg (Nūn) PML(N) or PML-N) is a centre-right and liberal conservative political party in Pakistan. Alongside the Pakistan Tehreek-e-Insaf (PTI) and Pakistan Peoples Party ...
of
Nawaz Sharif Mian Muhammad Nawaz Sharif (Urdu, Punjabi: ; born 25 December 1949) is a Pakistani businessman and politician who has served as the Prime Minister of Pakistan for three non-consecutive terms. He is the longest-serving prime minister of Pak ...
to concede their defeat and took asylum in United Kingdom. In 2005, a non-partisan local government elections were decided to be held in entire country, starting first to hold the elections in Karachi, Sindh Province. Subsequently, Aziz supervised and presided the first free and fair local body elections with PML(Q) and its allied parties sweeping the election arena. Controversially, Aziz allocated Rs. 20 million to each district where PML(Q) candidates lost the National Assembly elections in order to secure its voting bank that was lost in 2002. In Sindh and Balochistan Province, Aziz presided the peaceful election held events and personally monitored the success of the local government body programme. Under his first few of years of government, the law and order situation remains under control and prosperity in Balochistan, and presided the completion the first phase of the
Gwadar port The Gwadar Port ( ur, ) is situated on the Arabian Sea at Gwadar in Balochistan province of Pakistan and is under the administrative control of the Maritime Secretary of Pakistan and operational control of the China Overseas Port Holding Co ...
. Problems began to mount with nationalist Akbar Bugti, an ally of
Nawaz Sharif Mian Muhammad Nawaz Sharif (Urdu, Punjabi: ; born 25 December 1949) is a Pakistani businessman and politician who has served as the Prime Minister of Pakistan for three non-consecutive terms. He is the longest-serving prime minister of Pak ...
. Although, Aziz repeatedly and forcefully denied the knowledge of any military action against Bugti and, as prime minister, Aziz never released any information of any military action in Balochistan. However, Aziz appeared on television screens and stated that "Akbar Bugti died in a military operation during the night of August 25—26, 2008". Aziz was inflicted with the involvement in the killing of Akbar Khan Bugti, although he has denied any involvement in any manner. In Islamabad alone, Aziz's government was forced to take military action, codename '' Silence'' after chairing a meeting with the President. In 2009, Aziz maintained that his government had tried at every level of extreme to resolve the Lal Masjid issue through talks to save lives. In a television interview, Aziz maintained that "We gave them time to leave the mosque and the Imam-e-Kaaba Abdul Rahman Al-Sudais also came to Pakistan on my request in connection with the issue.". One of the widely reported controversy took place in his government was the atomic proliferation scandal of Abdul Qadeer Khan. Aziz remains supportive towards Khan and efficiently took matters of Abdul Qadeer Khan in 2006 from President Musharraf. On 10 September 2006, Aziz sent flowers and personally visited Khan when he was hospitalised and on 12 October 2007, Musharraf made it clear to United States and rest of the world that Khan "won't be handed over" at given any circumstances. On a television speech, Aziz paid a huge tribute to Abdul Qadeer Khan and while commenting on last part of his speech, Aziz stressed it:


Energy policy

After assuming the office, Aziz announced a controversial "New 25-year energy plan", aiming to raise Pakistan's dependence on imported oil for power generation to 50% by 2030. His government pushed for the renewable energy, and put efforts to established the
solar energy Solar energy is radiant light and heat from the Sun that is harnessed using a range of technologies such as solar power to generate electricity, solar thermal energy (including solar water heating), and solar architecture. It is an essen ...
and wind power sector in the country. Prime Minister Aziz's "New 25-year energy plan" remains extremely controversial and met great public criticism by media and energy experts. Energy experts rendered Aziz's programme as "bigger disaster" in a view when even oil rich Gulf countries were reducing their share of oil in their power production. Prime Minister Aziz approved the constructional, and approved the developmental work of '' CHASNUPP-II'' reactor at the Chashma Nuclear Power Plant in Chashma city, Punjab Province of Pakistan. A 325 MW commercial nuclear power plant was built with Chinese assistance at the close vicinity of Chashma nuclear power complex. Aziz termed this project as "milestone" in the history of nuclear technology in Pakistan. In 2007, Aziz approved the constructional development of '' KANUPP-II'' and the nuclear reprocessing site, the Nuclear Power Fuel Complex in Islamabad. Aziz oversaw to increase the capacity building of the Pakistan Nuclear Regulatory Authority, a governmental nuclear safety authority, to meet the safety requirement of nuclear power plants. In 2007, Aziz further diversified his nuclear energy policy, terming it as "criteria based nuclear technology" while continued financing the nuclear power projects. Aziz presided initial construction of major hydroelectric power plants project in Pakistan, such as approving the Diamer-Bhasha Dam. Its foundation was laid by his successor Yousaf Raza Gillani in 2011. In 2004, Aziz directed the Ministry of Water and Power and Planning Commission to prepare an integrated energy plan for the country. Aziz approved the "Vision 2025" programme" of
Water and Power Development Authority The Pakistan Water & Power Development Authority (WAPDA; ur, ) is a government-owned public utility maintaining power and water in Pakistan, although it does not manage thermal power. WAPDA includes Tarbela and Mangla dams among its resources. ...
(WAPDA) to produce power through water. The programme was intended to be launched with the help of private sector and private funding through the international megaproject. However all projects were cancelled or either put on hold by the upcoming government of Yousaf Raza Gillani due economic distress, lack of capital and investment and continuing economic declines, leading an increasing circular debt.


Defence reforms

Aziz oversaw the successful development of the JF-17 Thunder fighter programme in record time, built with the close cooperation with
China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's List of countries and dependencies by population, most populous country, with a Population of China, population exceeding 1.4 billion, slig ...
. In 2007, Aziz stressed that "Pakistan is not an offensive country and our defence doctrine is based on having minimum credible deterrence to maintain peace and stability in the region.". Aziz also successfully saw the technology transfer and contract development of first combatant frigate, the F-22P ''Zulfiquar''. In May 2006, Aziz stressed that: "Pakistan's deep military and economic cooperation with China was one not based on "transient interest," but was "higher than Himalayas, deeper than oceans". In August 2006, Aziz visited the People's Republic of China, seeking Chinese cooperation in
space technology Space technology is technology for use in outer space, in travel (''astronautics'') or other activities beyond Earth's atmosphere, for purposes such as spaceflight, space exploration, and Earth observation. Space technology includes space vehicles ...
. China expressed interest in helping Pakistan with developing and launching
satellites A satellite or artificial satellite is an object intentionally placed into orbit in outer space. Except for passive satellites, most satellites have an electricity generation system for equipment on board, such as solar panels or radioisotop ...
. In a joint statement of Prime Minister Shaukat Aziz and Chinese Premier Wen Jiabao, Aziz emphasised that: "both countries are determined to elevate their friendship and strategic partnership.". A contract was signed with China, Aziz authorized the development of the satellite, '' Paksat-IR''. Aziz presided over the security, expansion, and modernization of the country's
nuclear deterrence Deterrence theory refers to the scholarship and practice of how threats or limited force by one party can convince another party to refrain from initiating some other course of action. The topic gained increased prominence as a military strategy ...
programme as part of his defence policy. Aziz oversaw the successful development of the '' Shaheen-II'' missile program and witnessed its first flight at an undisclosed location in April 2006. After witnessing the test, Aziz maintained that: "We will continue to pursue vigorously our security and energy needs from all sources including nuclear.". On 8 August 2005, Aziz issued directives to tightened the security and control and command of the National Command Authority and ordered strict monitoring of atomic assets and facilities at all levels of command. In 2004, Aziz stated and clarified Pakistan's nuclear policy to the world and India in an interview given to the ''
Times of India ''The Times of India'', also known by its abbreviation ''TOI'', is an Indian English-language daily newspaper and digital news media owned and managed by The Times Group. It is the third-largest newspaper in India by circulation and largest se ...
'': From 2005 and onwards, Aziz's government took major steps against atomic proliferation while also making several decisions to increase the capacity of nuclear deterrence and sufficient use of nuclear energy for the civil sector.


Foreign relations

On foreign fronts, Aziz closely collaborated with Musharraf while working to develop the geostrategy in the region. Aziz took initiatives to strengthen the relations with the
United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., ...
,
European Union The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are located primarily in Europe, Europe. The union has a total area of ...
,
Russia Russia (, , ), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world, with its internationally recognised territory covering , and encompassing one-ei ...
,
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area, the List of countries and dependencies by population, second-most populous ...
,
China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's List of countries and dependencies by population, most populous country, with a Population of China, population exceeding 1.4 billion, slig ...
, and
Saudi Arabia Saudi Arabia, officially the Kingdom of Saudi Arabia (KSA), is a country in Western Asia. It covers the bulk of the Arabian Peninsula, and has a land area of about , making it the fifth-largest country in Asia, the second-largest in the Ara ...
. Under his government, relations with the United States were extremely cordial and friendly. His foreign policy strictly pursued and followed a "Balance Foreign Policy (BFP)" programme with an initial goal to keen to forge robust friendly ties with international community, US and European Union (EU). Accompanied by
Recep Tayyip Erdoğan Recep Tayyip Erdoğan (born 26 February 1954) is a Turkish politician serving as the 12th and current president of Turkey since 2014. He previously served as prime minister of Turkey from 2003 to 2014 and as mayor of Istanbul from 1994 to ...
of Turkey, Aziz travelled to Iran in 2006, and privately told Iranian President
Mahmoud Ahmadinejad Mahmoud Ahmadinejad ( fa, محمود احمدی‌نژاد, Mahmūd Ahmadīnežād ), born Mahmoud Sabbaghian ( fa, محمود صباغیان, Mahmoud Sabbāghyān, 28 October 1956),
he must change course regarding its nuclear program, as the current direction was neither in Iran's nor the region's interest. Aziz urged Ahmadinejad to immediately place a moratorium on uranium enrichment, while on the other hand Erdoğan described the EU-3 proposal, with Russian enhancements, as a very attractive offer for Iran. Both Aziz and Erdoğan condemned Ahmedinejad's statements attacking Israel as completely unacceptable and serving no purpose. Aziz's tenure saw considerable improvements in relations with Japan. After visiting Japan, Aziz welcomed investment in the manufacturing sector and Pakistani-Japanese joint ventures in steel manufacturing as an excellent symbol of cooperation in expanding steel production between the two countries. Aziz paid a farewell visit to South Korea to strengthen and enhance relations between the two countries. Aziz cautiously supported South Korea's stance while refraining to criticise North Korea. On a three-day state visit, Aziz and his counterpart
Lee Hae Chan Lee Hae-chan (born 10 July 1952) is a South Korean politician who served as Leader of the Democratic Party of Korea from 2018 to 2020. He also served as Prime Minister of South Korea from 2004 to 2006. He served as Member of the National As ...
signed two agreements on cultural exchange and providing human resource management, and improving trade and cultural ties between South Korea and Pakistan. Aziz strongly allied with the United States in the fight against terrorism, and in a meeting with an American journalist, Aziz maintained that: "Pakistan is now ideally positioned to "work with cooperation rather than confrontation as a force for peace, stability, and prosperity..". During his tenure, relations with the United States strengthened and progressed. In 2006, Aziz quoted: "Pakistan-American relations are based on mutual trust and respect and are long-standing.". During his repeated visits to the United States, Aziz worked and deliberately approached the U.S. administration on building a strategic partnership with the United States, and made efforts to build a "robust-broad-based strategic relationship.". Aziz's economic, domestic, and internal reforms focused on enriching a longer-term sustainable Pakistan-U.S. relationship and contributed immeasurably to both countries' joint struggle against extremism. Relations with Israel were considered important by Aziz's government, and supported Musharraf's policy on Israel. At foreign fronts, Aziz maintained a "''Telephone Policy''" on diplomatic engagement with Israel, whilst keeping Saudi Arabia and Turkey in tacit contact. During his tenure,
bilateral relations Bilateralism is the conduct of political, economic, or cultural relations between two sovereign states. It is in contrast to unilateralism or multilateralism, which is activity by a single state or jointly by multiple states, respectively. Wh ...
with the United Kingdom were enhanced and reached to a new level after meeting with British prime minister
Tony Blair Sir Anthony Charles Lynton Blair (born 6 May 1953) is a British former politician who served as Prime Minister of the United Kingdom from 1997 to 2007 and Leader of the Labour Party from 1994 to 2007. He previously served as Leader of t ...
in 2005, and tightened the economic and defence relations with British counterpart Gordon Brown in 2007. Brown thanked Aziz for the successful launching of a $500 million Eurobond, which was oversubscribed four times. After assuming the office of prime minister, Aziz left for China, as his foreign state visit as prime minister in 2004. In 2007, Aziz made his final state visit as prime minister to China to sign a
Free Trade Agreement A free-trade agreement (FTA) or treaty is an agreement according to international law to form a free-trade area between the cooperating states. There are two types of trade agreements: bilateral and multilateral. Bilateral trade agreements occ ...
ST> with China, and regarded the country as a "strategic partner" and a "time-tested friend," whilst China regarded the FTA agreement as "a historic development". Aziz built closer economic ties with India while alleviating the territorial conflicts. After meeting with Indian counterpart
Manmohan Singh Manmohan Singh (; born 26 September 1932) is an Indian politician, economist and statesman who served as the 13th prime minister of India from 2004 to 2014. He is also the third longest-serving prime minister after Jawaharlal Nehru and Indir ...
, a confident measuring building process was initiated by Aziz. Aziz pushed his foreign policy to Russia, calling Russia a "global super power". In 2006, Aziz invited state-run and private-media of Russia where he repeatedly stressed for the need to enhance cooperation between Pakistan and Russia in the fields of education, science and technology, energy, defence and trade and investment. Finally, in 2007, Russian prime minister
Mikhail Fradkov Mikhail Yefimovich Fradkov ( rus, Михаи́л Ефи́мович Фрадко́в, p=mʲɪxɐˈil jɪˈfʲiməvʲɪtɕ frɐtˈkof; born 1 September 1950) is a Russian politician who served as Prime Minister of Russia from 2004 to 2007. An In ...
paid a three-day-long visit to Pakistan, becoming the first Russian prime minister and leader to visit the country in 38 years. During this trip, Aziz and Fradkov pledged to boost economic ties and signed two co-operation agreements .


Economic policy

Under Shaukat Aziz's government, the country's national economic growth improved at the rate range by 6.4% to 9.0% a year. All revenue collection targets were met on time for the first time in the history of Pakistan, and allocation for development was increased by about 40%. However, this economic success is attributed largely to debt reduction and securing of the billion dollars worth
US aid The United States Agency for International Development (USAID) is an independent agency of the U.S. federal government that is primarily responsible for administering civilian foreign aid and development assistance. With a budget of over $27 bil ...
to Pakistan in return for the
support Support may refer to: Arts, entertainment, and media * Supporting character Business and finance * Support (technical analysis) * Child support * Customer support * Income Support Construction * Support (structure), or lateral support, a ...
in the US-led
war on terror The war on terror, officially the Global War on Terrorism (GWOT), is an ongoing international counterterrorism military campaign initiated by the United States following the September 11 attacks. The main targets of the campaign are militant ...
. Moreover, despite a series of internal and external distresses, economic situation of Pakistan improved significantly and reserves increased to US$10.7bn on 30 June 2004 as compared to US$1.2bn October 1999. Exchange Rate became stable and predictable; the inflation rate dropped to 3.5% last 3 years as against 11–12% in 1990. After taking control of the economy, Aziz aggressively promoted the privatisation, deregulation and economic liberalisation programme and open the large heavy mechanical industries, petroleum companies, electropetroleum and chemical enterprises and state-owned corporations to private sectors. His tenure as finance minister and prime minister, the agriculture production and construction well increased, whilst aggressively and forcefully implementing his policies to liberalise the trade, and eliminated the non-tariff barriers. Under his regime, the maximum bound tariffs were brought down to high as 300% to 25% whilst the applied tariff averages falls in the range of 5% to 10%. The GDP growth which was at 3.9% in October 1999, stood between 6.6%—9% and successfully privatised all state-owned corporations and state enterprises before completing his term. However, Aziz's strategy failed deal with underlying problems deeply in country's economy. The global financial crises in 2008 led the sharp drop in the country's economy while an acute electricity shortage in the country revealed the incompetence by the Peoples Party's government, but also the failure of his government to develop the necessary energy infrastructure on time. Political economists, however, gave other side of story by arguing that his policies were not aimed at alleviating poverty as he seldom offered relief to the poor sections of the society. Shaukat Aziz is roundly criticized for his policy of downsizing in the
public sector The public sector, also called the state sector, is the part of the economy composed of both public services and public enterprises. Public sectors include the public goods and governmental services such as the military, law enforcement, inf ...
and disintegrating the effects of nationalization policies of Benazir Bhutto as early as the 1990s but Aziz defended as he points out that his policies made these institutions viable while they were on the verge of collapse. Political economist dr. S. Akbar Zaidi argues that his policies mastered Pakistan's economy but such indicators are misleading and unsustainable because his policies do not examine or explain the particular, perplexing economy of Pakistan.


Image and credentials

A banker and financier by training and extensive experience in the United States, Aziz's credentials are extremely high and considered one of the successful finance minister of Pakistan. His credential records are similar to those of the successful US treasury secretaries such as Bob Rubin and
Nicholas F. Brady Nicholas Frederick Brady (born April 11, 1930) is an American politician from the state of New Jersey, who was the United States Secretary of the Treasury under Presidents Ronald Reagan and George H. W. Bush, and is also known for articulating t ...
who did well under Clinton and Reagan administrations. He understands the rôle of banking, finance, investment and consumer credit in economic growth of a nation. Aziz presided the strong banking sector, unprecedented investment and growth finance sectors in Pakistan to underpin its economy. He strengthened capital availability, an essential and increasingly important economic input, in addition to labour and land improvements. With higher education budget up 15-fold and overall education spending up 36% in two years, he focused on education to improve the availability of skilled labour to fill new jobs. Aziz aggressively pushed land development and public and private construction spending to improve infrastructure and facilities to attract greater business investment. The international communities regarded Aziz as a reformer, with Pakistan's structural reforms ranking high amongst emerging economies. Aziz co-chaired the Secretary-General's High Level Panel on the United Nations System-wide Coherence in the areas of development, humanitarian assistance and the environment. Aziz oversaw the success of the privatisation programme in Pakistan and most of the proceeds so far have come from the telecom and banking sectors, around 80% of Pakistan's banking sector was put under the private hands. The BBC noted that the privatisation programme, initiated by Nawaz Sharif in 1990, picked up from a jog to a sprint under watchful eyes of Prime Minister Shaukat Aziz. The prime minister is considered the chief architect of privatisation and is widely respected among foreign investors. In an interview with BBC, Aziz mentioned Pakistan's economic growth as he puts it: In 2008, Aziz participated in the Global Creative Leadership Summit, organised by the Louise Blouin Foundation. As a delegate, he delivered a keynote speech for the panel entitled "Economic Crisis, Economics of Change: Credit, Commodities, and Trade."


Controversies and criticism

In spite of supervising and presiding the successful economic growth at an unprecedent level, his privatisation and energy policies remains extremely controversial in public circles. Critics argued that Aziz's privatisation policies and privatised energy sector did not fully tackle with full force in country's economy. Aziz defended as he points out that his policies made these institutions viable while they were on the verge of collapse. An unsuccessful attempt to privatise the Pakistan Steel Mills was also thwarted by trade unions and pro-nationalization elements who took the case to Supreme Court of Pakistan in 2006. But Aziz said that his privatisation program produced "the second fastest growing economy in the world." On 30 October 2011, Aziz directed a letter sent from Dubai to the Provincial Police Office to Balochistan High Court stating "he had been mentioned in the FIR registered at the Dera Bugti Police Station on 13 October 2009, which alleged that then president Pervez Musharraf used him as part of Akbar Bugti case in which the latter committed suicide during a military operation.". Aziz maintained that he was informed of "unfortunate event" through the televised media. Aziz later stated in television that Akbar Bugti died in a military operation during the night of 25/26 August 2008. On 5 November 2017, Aziz appeared on the
Paradise Papers The Paradise Papers are a set of over 13.4 million confidential electronic documents relating to offshore investments that were leaked to the German reporters Frederik Obermaier and Bastian Obermayer, from the newspaper'' Süddeutsche ...
leaks. The leaks claimed that he was linked with the Antarctic Trust, which was set up by Aziz himself. This trust was neither declared by him as
prime minister A prime minister, premier or chief of cabinet is the head of the cabinet and the leader of the ministers in the executive branch of government, often in a parliamentary or semi-presidential system. Under those systems, a prime minister is ...
nor as finance minister. Aziz, a former Citibank executive, told the ICIJ he had set the trust up for
estate planning Estate planning is the process of anticipating and arranging, during a person's life, for the management and disposal of that person's estate during the person's life, in the event the person becomes incapacitated and after death. The planning inc ...
purposes and that the funds had come from his employment at Citibank. An internal Appleby document raised concerns about warrants issued for him in connection with the killing of a local leader. Aziz dismissed both the murder charge and the allegations of financial impropriety.


Post-politics

Shaukat Aziz currently resides in West London, United Kingdom. He serves on a number of boards and advisory boards including Millennium & Copthorne Hotels plc. and The Blackstone Group. According to Aziz, he has maintained good relations with several members of his government and the members of the
Parliament In modern politics, and history, a parliament is a legislative body of government. Generally, a modern parliament has three functions: representing the electorate, making laws, and overseeing the government via hearings and inquiries. Th ...
including his former Foreign Minister Khurshid Kasuri and former railways minister
Sheikh Rasheed Sheikh Rasheed Ahmad ( ur, ; born 6 November 1950) is a Pakistani politician who served as the 38th Interior Minister of Pakistan from 2020 to 2022. He is famous because of his smoking cigars and Laal Haveli. He is the founder and leader of A ...
and his party president Chaudhry Shujaat Hussain. In the midst of 2009, in polls performed by various news agencies, Aziz's approval rating ranged from 30.7%, but ratings dramatically fell down to 17.3% in the end of 2009. In 2012, in polls managed by various news surveys, Aziz's popularity approval ratings ranged at 20.5%. Aziz remained active in political arena of the country and has vigorously defended his financial policies. Aziz criticised the care-taker government of Muhammad Mian Soomro for the economic collapse, and predicted that, "the next elections will sweep, paving the way for a two-party system to emerge with the Pakistan Muslim League in the government and the Peoples Party in the opposition". He remains active on economic issues and harshly criticised the
International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster glo ...
(IMF) of failing to show leadership during what he described as a "historic" global financial crisis. While attending the international business conference at Philippines, Aziz maintained that: "This global institution (IMF) which is supposed to look at everything going on was not even in the room where meetings are going on". In 2008, Aziz gave vehement criticism to IMF and according to him, the "IMF has played a very negative role" in global crises. Speaking at the
Association of Southeast Asian Nations ASEAN ( , ), officially the Association of Southeast Asian Nations, is a political and economic union of 10 member states in Southeast Asia, which promotes intergovernmental cooperation and facilitates economic, political, security, mi ...
conference in 2008, Aziz maintains his views that the Financial crisis occurred due to financial mismanagement, lack of understanding the macroeconomics principles and fragmented regulatory regimes in the world. In an interview with CNN, Aziz remains pessimistic about Pakistan's approach to Free Trade Agreement with the United States in 2012 based on his judgment of the current relations with the United States and economic challenges faced by the country.


See also

* List of prime ministers of Pakistan *
Government of Shaukat Aziz A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a ...
**
Privatization in Pakistan The Privatisation process in Pakistan (sometimes referred to as Denationalisation programme or simply the Privatisation in Pakistan) is a continuous policy measure program in the economic period of Pakistan. It was first conceived and implement ...
** Market corporatisation *
2008 Pakistani parliamentary election 8 (eight) is the natural number following 7 and preceding 9. In mathematics 8 is: * a composite number, its proper divisors being , , and . It is twice 4 or four times 2. * a power of two, being 2 (two cubed), and is the first number of ...


References


External links


Shaukat Aziz

Economic Pakistan

Profile
by BBC dated 30 July 2004
The Turnaround Wizard
– ''Asia Inc.'' cover story, 4 March 2004
Asiasource interview
of Shaukat Aziz dated 20 April 2004
A conversation with Pakistan Prime Minister Shaukat Aziz
''South China Morning Post'' dated 28 March 2007


Pakistan's Former Prime Minister Defends His Country – The Daily Beast June 7, 2011


, - {{DEFAULTSORT:Aziz, Shaukat 1949 births Citigroup people Finance Ministers of Pakistan Pakistani financiers Institute of Business Administration, Karachi alumni Living people Pakistan Muslim League (Q) MNAs Pakistani bankers Pakistani MNAs 2002–2007 St. Patrick's High School, Karachi alumni Prime Ministers of Pakistan People of the insurgency in Khyber Pakhtunkhwa Businesspeople from Karachi Muhajir people Politicians from Karachi Government Gordon College alumni Pakistani emigrants to the United Kingdom Naturalised citizens of the United Kingdom Heads of government who were later imprisoned People named in the Paradise Papers