March 30, 2009

Pakistan's Rare Gem; Shaukat Aziz

Today I want us to celebrate a man who is one of the finest leaders Pakistan has ever had; Shaukat Aziz. He was hand-picked by Musharraf to become Pakistan's Finance Minister and later served as the Prime Minister under Musharraf's presidency and saved our country from it's failing economy and declaring bankruptcy. He left his incredible salary and luscious lifestyle for the sake of Pakistan. Here is a list of some improvements that took place in Pakistan under Aziz's term.

  • Pakistan’s economy grew by 100% — to become $ 160 billion
  • Revenue grew by 100% — to become $ 11.4 billion
  • Per Capita Income grew by 100% — to become $ 925
  • Foreign Reserves grew by 500% — to become $ 17 billion
  • Exports grew by 100% — to become $ 18.5 billion
  • Textile exports grew by 100% — to become $ 11.2 billion
  • Karachi Stock Exchange grew by 500% — to become $ 75 billion
  • Foreign Direct Investment grew by 500% — to become $ 8 billion
  • Annual Debt servicing decreased by 35% — to become 26%
  • Poverty decreased by 10% — to become 24%
  • literacy rate grew by 10% — to become 54%
  • Public development Funds grew by 100% — to become Rs 520 billion

Aziz left office on November 16, 2007, at the end of his term and became the first Prime Minister of Pakistan to complete a full term in office. In early 2007, according to an independent survey by IRI, another surprising finding was that 22 per cent of the respondents thought Shaukat Aziz would be the best prime minister. On that count, Benazir scored a respectable 19 per cent and Nawaz Sharif only 11 per cent. Shaukat Aziz is currently operating his financial consultancy firm in UAE.


Anonymous said...

Shaukat Aziz was a brilliant man and practical. His credentials speak for themselves. Pakistan's economy wriggled out of the IMF marsh and performed 100% better! His economic vision was one that is similar to China's. For any economy 'accumulating foreign reserves' and 'attracting foreign investment' is crucial. No country in the world can sustain itself or finance its budget by merely trusting self revenue generation.

A wonderful article explaining this comparison, while analyzing Shaukat Aziz's policies to PPP era is:


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