Speech of Mr. Shaukat Aziz
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Tariq Bajwa: State Bank of Pakistan's 70Th Anniversary
Governor : Mr. Tariq Bajwa Title : SBP’s 70th Anniversary: Welcome Note by Governor SBP Date : July 01, 2018 Event : State Bank of Pakistan’s 70-year Celebration Event Venue : SBP Head Office Karachi. State Bank of Pakistan’s 70th Anniversary Welcome Note by Governor SBP Governor Sindh Mr. Zubair, Honorable Finance Minister, Dr Shamshad Akhtar, Respectable Former Governors, State Bank of Pakistan, Dr. Ishrat Husain, Mr. Yasin Anwar, Mr. Ashraf Wathra Distinguished guests, Ladies and Gentlemen, Assalam-o-aliakum and a very good morning! It is my pleasant duty and distinct privilege to welcome you all to the 70th anniversary of the establishment of State Bank of Pakistan. On the auspicious occasion of the opening of the SBP on July 1st, 1948, the Quaid said: “The opening of State Bank of Pakistan symbolizes the sovereignty of our state in the financial sphere. I need to hardly dilate on the important role the State Bank will have to play in regulating the economic life of our country. The monetary policy of the bank will have a direct bearing on our trade and commerce, both inside Pakistan as well as with the outside world and it is only to be desired that our policy should encourage maximum production and free flow of trade.” Page 1 of 4 The SBP as an institution has tried to live up to the expectations of the Quaid. From a modest beginning in borrowed premises, ladies and gentlemen, SBP rose to have earned the reputation of being a professional, progressive and forward-looking institution. The journey has been challenging, arduous, but rewarding. -
Zulfiqar Ali Bhutto and Confrontationist Power Politics in Pakistan : JRSP, Vol
Zulfiqar Ali Bhutto and Confrontationist Power Politics in Pakistan : JRSP, Vol. 58, No 2 (April-June 2021) Ulfat Zahra Javed Iqbal Zulfiqar Ali Bhutto and the Beginning of Confrontationist Power Politics in Pakistan 1971-1977 Abstract: This paper mainly explores the genesis of power politics in Pakistan during 1971-1977. The era witnessed political disorders that the country had experienced after the tragic event of the separation of East Pakistan. Bhutto’s desire for absolute power and his efforts to introduce a system that would make him the main force in power alienated both, the opposition and his colleagues and supporters. Instead of a democratic stance on competitive policies, he adopted an authoritarian style and confronted the National People's Party, leading to an era characterized by power politics and personality clashes between the stalwarts of the time. This mutual distrust between Bhutto and the opposition - led to a coalition of diverse political groups in the opposition, forming alliances such as the United Democratic Front and the Pakistan National Alliance to counter Bhutto's attempts of establishing a sort of civilian dictatorship. This study attempts to highlight the main theoretical and political implications of power politics between the ruling PPP and the opposition parties which left behind deep imprints on the history of Pakistan leading to the imposition of martial law in 1977. If the political parties tackle the situation with harmony, a firm democracy can establish in Pakistan. Keywords: Pakhtun Students Federation, Dehi Mohafiz, Shahbaz (Newspaper), Federal Security Force. Introduction The loss of East Pakistan had caused great demoralization in the country. -
Pakistan's Institutions
Pakistan’s Institutions: Pakistan’s Pakistan’s Institutions: We Know They Matter, But How Can They We Know They Matter, But How Can They Work Better? Work They But How Can Matter, They Know We Work Better? Edited by Michael Kugelman and Ishrat Husain Pakistan’s Institutions: We Know They Matter, But How Can They Work Better? Edited by Michael Kugelman Ishrat Husain Pakistan’s Institutions: We Know They Matter, But How Can They Work Better? Essays by Madiha Afzal Ishrat Husain Waris Husain Adnan Q. Khan, Asim I. Khwaja, and Tiffany M. Simon Michael Kugelman Mehmood Mandviwalla Ahmed Bilal Mehboob Umar Saif Edited by Michael Kugelman Ishrat Husain ©2018 The Wilson Center www.wilsoncenter.org This publication marks a collaborative effort between the Woodrow Wilson International Center for Scholars’ Asia Program and the Fellowship Fund for Pakistan. www.wilsoncenter.org/program/asia-program fffp.org.pk Asia Program Woodrow Wilson International Center for Scholars One Woodrow Wilson Plaza 1300 Pennsylvania Avenue NW Washington, DC 20004-3027 Cover: Parliament House Islamic Republic of Pakistan, © danishkhan, iStock THE WILSON CENTER, chartered by Congress as the official memorial to President Woodrow Wilson, is the nation’s key nonpartisan policy forum for tackling global issues through independent research and open dialogue to inform actionable ideas for Congress, the Administration, and the broader policy community. Conclusions or opinions expressed in Center publications and programs are those of the authors and speakers and do not necessarily reflect the views of the Center staff, fellows, trustees, advisory groups, or any individuals or organizations that provide financial support to the Center. -
LETTER to G20, IMF, WORLD BANK, REGIONAL DEVELOPMENT BANKS and NATIONAL GOVERNMENTS
LETTER TO G20, IMF, WORLD BANK, REGIONAL DEVELOPMENT BANKS and NATIONAL GOVERNMENTS We write to call for urgent action to address the global education emergency triggered by Covid-19. With over 1 billion children still out of school because of the lockdown, there is now a real and present danger that the public health crisis will create a COVID generation who lose out on schooling and whose opportunities are permanently damaged. While the more fortunate have had access to alternatives, the world’s poorest children have been locked out of learning, denied internet access, and with the loss of free school meals - once a lifeline for 300 million boys and girls – hunger has grown. An immediate concern, as we bring the lockdown to an end, is the fate of an estimated 30 million children who according to UNESCO may never return to school. For these, the world’s least advantaged children, education is often the only escape from poverty - a route that is in danger of closing. Many of these children are adolescent girls for whom being in school is the best defence against forced marriage and the best hope for a life of expanded opportunity. Many more are young children who risk being forced into exploitative and dangerous labour. And because education is linked to progress in virtually every area of human development – from child survival to maternal health, gender equality, job creation and inclusive economic growth – the education emergency will undermine the prospects for achieving all our 2030 Sustainable Development Goals and potentially set back progress on gender equity by years. -
Pakistan Courting the Abyss by Tilak Devasher
PAKISTAN Courting the Abyss TILAK DEVASHER To the memory of my mother Late Smt Kantaa Devasher, my father Late Air Vice Marshal C.G. Devasher PVSM, AVSM, and my brother Late Shri Vijay (‘Duke’) Devasher, IAS ‘Press on… Regardless’ Contents Preface Introduction I The Foundations 1 The Pakistan Movement 2 The Legacy II The Building Blocks 3 A Question of Identity and Ideology 4 The Provincial Dilemma III The Framework 5 The Army Has a Nation 6 Civil–Military Relations IV The Superstructure 7 Islamization and Growth of Sectarianism 8 Madrasas 9 Terrorism V The WEEP Analysis 10 Water: Running Dry 11 Education: An Emergency 12 Economy: Structural Weaknesses 13 Population: Reaping the Dividend VI Windows to the World 14 India: The Quest for Parity 15 Afghanistan: The Quest for Domination 16 China: The Quest for Succour 17 The United States: The Quest for Dependence VII Looking Inwards 18 Looking Inwards Conclusion Notes Index About the Book About the Author Copyright Preface Y fascination with Pakistan is not because I belong to a Partition family (though my wife’s family Mdoes); it is not even because of being a Punjabi. My interest in Pakistan was first aroused when, as a child, I used to hear stories from my late father, an air force officer, about two Pakistan air force officers. In undivided India they had been his flight commanders in the Royal Indian Air Force. They and my father had fought in World War II together, flying Hurricanes and Spitfires over Burma and also after the war. Both these officers later went on to head the Pakistan Air Force. -
Pakistan-Reinstatemt-Chiefjustice-Web Story-2009
INTERNATIONAL COMMISSION OF JURISTS Commission internationale de juristes - Comisión Internacional de Juristas " dedicated since 1952 to the primacy, coherence and implementation of international law and principles that advance human rights " COMMUNIQUE DE PRESSE – COMUNICADO DE PRENSA Pakistan – ICJ welcomes reinstatement of Chief Justice Chaudhry Geneva, 20 March 2009 P The International Commission of Jurists (ICJ) welcomes the reinstatement of Chief Justice Iftikhar Mohammad Chaudhry by the Government of Pakistan on 16 March 2009. R “The reinstatement of the Chief Justice is an historic milestone in reaffirming the rule of law and the independence of the judiciary in Pakistan,” said Dato Param Cumaraswamy, ICJ Honorary E Commissioner and former UN Special Rapporteur on the Independence of Judges. “It will help restore public and international confidence in the judicial system, but for this to be effective, the Government must ensure functional independence of the judiciary, without any executive interference in the future.” S Judicial independence and separation of powers are fundamental principles of the rule of law and a cornerstone of democratic governance. Principle 4 of the UN Basic Principles on the S Independence of the Judiciary prohibits any inappropriate or unwarranted interference in the judicial process. The reinstatement of the Chief Justice is also a validation of the unprecedented two-year struggle by the Pakistan’s lawyers and civil society to restore the independence of the judiciary, pivotal for the rule of law in the country. R “Since the Chief Justice was arbitrarily dismissed from office, Pakistan’s lawyers have stood firm at the forefront of popular protests, enduring police brutality, mass arrests, arbitrary detention, torture and ill E treatment,” said Roger Normand, Director of ICJ’s Asia-Pacific Programme. -
Has Privatization Reduced the Proportion of Non-Performing
twLë!ÇLù!ÇLhb !b5 bhb t9wChwaLbD [h!b{ h Has privatization reduced the proportion of NonNon----PerformingPerforming Loans and increased Bank performance in Pakistan? Muslim Commercial Bank and Allied Bank Limited t t! "#!$ !%&!' L# Y# {&) a%&## Ç* {%!' /& [! { Ü { . ! { a twLë!ÇLù!ÇLhb !b5 bhb t9wChwaLbD [h!b{ h Serial Table of Contents Page Number No Copyright Notice 1 Acknowledgement 2 Preface 3 Abstract 4-5 1 Introduction 6 1.1 Background 6-8 1.1.1 • Pakistan Banking Evolution System 8 1.1.2 • Dominance of Nationalized Commercial Banks (NCB) 8-9 1.1.3 • History of Non-Performing Loans (Snapshot) 9 1.2 Research Question 9 1.3 Purpose of the Research 9 1.4 Definitions 10 1.4.1 • What is privatization? Different Views 10 1.4.2 • Types of privatization 10-11 1.4.3 • Non-Performing Loans 11-12 1.4.4 • Definition of Banks 12 1.4.5 • Performance 12 1.5 Limitations 12 1.5.1 • Limitations of the Data 13 1.5.2 • Limitations of Research 13 1.6 Disposition 14 twLë!ÇLù!ÇLhb !b5 bhb t9wChwaLbD [h!b{ h 2 Theoretical Framework 15 2.1 Pakistan Economy and Lending Market 15 2.1.1 • Pakistan and the World (2008) 15 2.1.2 • Economy Overview 16 2.1.3 • History of Pakistani lending market and Non-Performing 16-17 Loans 2.2 Privatization as an Economic Instrument 18 2.2.1 • Why Privatization 18 2.2.2 • Different views on effect of Privatization 19 2.2.3 • Efficiency of Privatization 19 2.2.4 • Views on the effect of Privatization on Customers 19 2.2.5 • Privatization Impact on NPLs and banks performance (IMF 20-21 Analysis) 2.3 Performance of -
Biographies of Main Political Leaders of Pakistan
Biographies of main political leaders of Pakistan INCUMBENT POLITICAL LEADERS ASIF ALI ZARDARI President of Pakistan since 2008 Asif Ali Zardari is the eleventh and current President of Pa- kistan. He is the Co-Chairman of the Pakistan Peoples Party (PPP), a role he took on following the demise of his wife, Benazir Bhutto. Zardari rose to prominence in 1987 after his marriage to Benazir Bhutto, holding cabinet positions in both the 1990s PPP governments, and quickly acquired a reputation for corrupt practices. He was arrested in 1996 after the dismissal of the second government of Bena- zir Bhutto, and remained incarcerated for eight years on various charges of corruption. Released in 2004 amid ru- mours of reconciliation between Pervez Musharraf and the PPP, Zardari went into self-imposed exile in Dubai. He re- turned in December 2007 following Bhutto’s assassination. In 2008, as Co-Chairman of PPP he led his party to victory in the general elections. He was elected as President on September 6, 2008, following the resignation of Pervez Musharraf. His early years in power were characterised by widespread unrest due to his perceived reluctance to reinstate the Chief Justice of the Supreme Court (who had been dismissed during the Musharraf imposed emergency of 2007). However, he has also overseen the passage of the 18th Amendment to the Constitution which effectively www.presidentofpakistan.gov.pk reduced presidential powers to that of a ceremonial figure- Asif Ali Zardari, President head. He remains, however, a highly controversial figure and continues to be dogged by allegations of corruption. Mohmmad government as Minister of Housing and Public Works. -
3 Who Is Who and What Is What
3 e who is who and what is what Ever Success - General Knowledge 4 Saad Book Bank, Lahore Ever Success Revised and Updated GENERAL KNOWLEDGE Who is who? What is what? CSS, PCS, PMS, FPSC, ISSB Police, Banks, Wapda, Entry Tests and for all Competitive Exames and Interviews World Pakistan Science English Computer Geography Islamic Studies Subjectives + Objectives etc. Abbreviations Current Affair Sports + Games Ever Success - General Knowledge 5 Saad Book Bank, Lahore © ALL RIGHTS RESERVED No part of this book may be reproduced In any form, by photostate, electronic or mechanical, or any other means without the written permission of author and publisher. Composed By Muhammad Tahsin Ever Success - General Knowledge 6 Saad Book Bank, Lahore Dedicated To ME Ever Success - General Knowledge 7 Saad Book Bank, Lahore Ever Success - General Knowledge 8 Saad Book Bank, Lahore P R E F A C E I offer my services for designing this strategy of success. The material is evidence of my claim, which I had collected from various resources. I have written this book with an aim in my mind. I am sure this book will prove to be an invaluable asset for learners. I have tried my best to include all those topics which are important for all competitive exams and interviews. No book can be claimed as prefect except Holy Quran. So if you found any shortcoming or mistake, you should inform me, according to your suggestions, improvements will be made in next edition. The author would like to thank all readers and who gave me their valuable suggestions for the completion of this book. -
The Mirage of Power, by Mubashir Hasan
The Mirage of Power AN ENQUIRY INTO THE BHUTTO YEARS 1971-1977 BY MUBASHIR HASAN Reproduced By: Sani H. Panhwar Member Sindh Council PPP. CONTENTS About the Author .. .. .. .. .. .. i Preface .. .. .. .. .. .. .. ii Acknowledgements .. .. .. .. .. v 1. The Dramatic Takeover .. .. .. .. .. 1 2. State of the Nation .. .. .. .. .. .. 14 3. Meeting the Challenges (1) .. .. .. .. 22 4. Meeting the Challenges (2) .. .. .. .. 43 5. Restructuring the Economy (1) .. .. .. .. 64 6. Restructuring the Economy (2) .. .. .. .. 85 7. Accords and Discords .. .. .. .. 100 8. All Not Well .. .. .. .. .. .. 120 9. Feeling Free .. .. .. .. .. .. 148 10. The Year of Change .. .. .. .. .. 167 11. All Power to the Establishment .. .. .. .. 187 12. The Losing Battle .. .. .. .. .. .. 199 13. The Battle Lost .. .. .. .. .. .. 209 14. The Economic Legacy .. .. .. .. .. 222 Appendices .. .. .. .. .. .. .. .. 261 ABOUT THE AUTHOR Dr. Mubashir Hasan is a well known figure in both academic and political circles in Pakistan. A Ph.D. in civil engineering, he served as an irrigation engineer and taught at the engineering university at Lahore. The author's formal entry into politics took place in 1967 when the founding convention of the Pakistan Peoples' Party was held at his residence. He was elected a member of the National Assembly of Pakistan in 1970 and served as Finance Minister in the late Prime Minister Zulfikar Ali Bhutto's Cabinet from 1971-1974. In 1975, he was elected Secretary General of the PPP. Following the promulgation of martial law in 1977, the author was jailed for his political beliefs. Dr. Hasan has written three books, numerous articles, and has spoken extensively on social, economic and political subjects: 2001, Birds of the Indus, (Mubashir Hasan, Tom J. -
China-Pakistan Economic Corridor
U A Z T m B PEACEWA RKS u E JI Bulunkouxiang Dushanbe[ K [ D K IS ar IS TA TURKMENISTAN ya T N A N Tashkurgan CHINA Khunjerab - - ( ) Ind Gilgit us Sazin R. Raikot aikot l Kabul 1 tro Mansehra 972 Line of Con Herat PeshawarPeshawar Haripur Havelian ( ) Burhan IslamabadIslamabad Rawalpindi AFGHANISTAN ( Gujrat ) Dera Ismail Khan Lahore Kandahar Faisalabad Zhob Qila Saifullah Quetta Multan Dera Ghazi INDIA Khan PAKISTAN . Bahawalpur New Delhi s R du Dera In Surab Allahyar Basima Shahadadkot Shikarpur Existing highway IRAN Nag Rango Khuzdar THESukkur CHINA-PAKISTANOngoing highway project Priority highway project Panjgur ECONOMIC CORRIDORShort-term project Medium and long-term project BARRIERS ANDOther highway IMPACT Hyderabad Gwadar Sonmiani International boundary Bay . R Karachi s Provincial boundary u d n Arif Rafiq I e nal status of Jammu and Kashmir has not been agreed upon Arabian by India and Pakistan. Boundaries Sea and names shown on this map do 0 150 Miles not imply ocial endorsement or 0 200 Kilometers acceptance on the part of the United States Institute of Peace. , ABOUT THE REPORT This report clarifies what the China-Pakistan Economic Corridor actually is, identifies potential barriers to its implementation, and assesses its likely economic, socio- political, and strategic implications. Based on interviews with federal and provincial government officials in Pakistan, subject-matter experts, a diverse spectrum of civil society activists, politicians, and business community leaders, the report is supported by the Asia Center at the United States Institute of Peace (USIP). ABOUT THE AUTHOR Arif Rafiq is president of Vizier Consulting, LLC, a political risk analysis company specializing in the Middle East and South Asia. -
Central Bank Governance Under Democracy
IPP Policy Brief 22/2015 Central Bank Governance Under Democracy Ummad Mazhar Institute of Public Policy IPP Policy Brief 22/2015 1 Beaconhouse National University Summary Two important components of central bank governance in a democratic society are independence and transparency. Where former insulates the central bank from political pressures that characterised politicians in a democracy; while later is necessary to fill out the democratic deficit associated with the central banks independent from the democratically elected government. Unfortunately, State Bank of Pakistan is not enjoying de facto independence and it also lacks in various dimensions of transparency. A credible and consistent policy stance is not possible without establishing the basic rules of central bank governance in a democracy. IPP Policy Brief 22/2015 1 During recent years, State Bank of Pakistan has been governed in an erratic way. In a quick succession, SBP governors pass the exit door while various communiqué of the Bank go on lamenting the unnecessary government pressures. How severe the consequences of this arbitrariness at the SBP for the macroeconomy of Pakistan are important to understand. There are two fundamental components of the governance structure of a democratic central bank: Independence and transparency. Independence means that central bank has the necessary latitude to pursue its macroeconomic targets. This minimum space is central bank’s exclusive discretionary sphere allowing it to do whatever is required to achieve macroeconomic stability. This autonomy gives central bank the right to decline government’s desires for deficit financing if central bank think that doing so would sabotage macroeconomic stability. In fact, there exist strong arguments that political pressures can cause central bank to use policy levers for short term political adjustments.