Shaukat Aziz
Encyclopedia
Shaukat Aziz is a world acclaimed Pakistani economist who was the 15th Prime Minister of Pakistan
from May 20, 2004 to 15 November 2007 in a joint military government
led by General Pervez Musharraf. A Citibank
executive, Aziz returned to Pakistan from the United States
to be became Finance Minister in November 1999 after being requested by General Pervez Musharraf. In 2004, Aziz was named by the Pakistan Muslim League
, a conservative front, for the position of Prime Minister after the resignation of Zafarullah Khan Jamali
on June 6, 2004. He became 24th Prime Minister of Pakistan on August 28, 2004 and served until November 15, 2007. He became the first Prime Minister of Pakistan to complete a full term in office.
Aziz widely given credit for stabilizing the economy
, and also given credit for introducing the new tax reforms, deregulation of the economy, the social growth of Pakistan society. In 2006, Pakistan was listed in Next Eleven
and received praise from world leaders for stabilizing the economy, financial system, and economical growth in the country. Aziz is considered one of the most confident members of General Pervez Musharraf, and it was said that Musharraf had eye-blindly trusted Shaukat Aziz in many of economical, trade, and Foreign policies led and approved by Aziz. After his tenure completed, Aziz went on to settle in London
, United Kingdom
where he is currently serving on the Boards of Millennium and Copthorne Hotels plc
and and later attended the Abbottabad Public School
. He passed his Intermediate from St. Patrick's College (Karachi). He graduated with a B.Sc.
degree in Economics
from Gordon College
, Rawalpindi
, in 1967. He obtained an M.B.A.
Degree in 1969 from Institute of Business Administration
(IBA) in Karachi, one of the premier business schools in Pakistan. It was during his studies at the IBA that he secured an internship at Citibank
and began his banking career.
Pakistan. During his career, Aziz subsequently served in various countries including Pakistan
, Greece
, United States
, United Kingdom
, Malaysia, Philippines
, Jordan
, Saudi Arabia
and Singapore
. Aziz held various and prestigious positions in Citibank including Corporate and Investment Banking (CIB), Corporate Planning Officer (CPO), Chief Financial Officer of Citicorp, and Manager Director of Citiban Singapore. He has been a board member of Citibank subsidiaries, including Saudi American Bank, Citicorp Islamic Bank, and of several non-profit organizations.
shortly after he had deposed Prime minister
Navaz Sharif in a coup d'état on October 1999. On 26 November 1999, while addressing a gathering of PakPAC, 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 the Pakistani economy. Then he asked Shaukat Aziz to stand up and introduce himself to the audience.
In November 1999 Aziz became the Finance Minister
with responsibility for Finance, Economic Affairs, Statistics
, 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.
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 Praises: 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."
Asian Development Bank also praised Pakistan's Micro-Finance
Media Recognition: In 2001, Mr. Aziz was also named "Finance Minister of the Year" by the prestigious Euromoney and Bankers Magazines.
Aziz was named by the Pakistan Muslim League (Q)
as the next Prime Minister after Mir Zafarullah Khan Jamali resigned on June 6, 2004. Aziz was Musharraf's top choice Musharraf for the candidacy of Prime ministerial post. Having described and labeled as urban gentlemen and smartly dressed, Aziz was tasked with day-to-day running of the federal government and see that policies are more effectively executed while Musharraf handles the military issues. In Pakistan, it was also said that Musharraf eye-blindly trusted Aziz and sometimes, Musharraf's approvals did not needed for the projects that required permission. Aziz quietly and more quickly undermined the elements seeking to undermine Musharraf which may have been a factor that Musharraf had eye-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. Aziz ran from two constituencies, Tharparkar-I
in Sindh, and Attock District
. While campaigning on July 29, 2004 Aziz survived an assassination attempt in the small town of Fateh Jang
in Attock District. A suicide bomber blew himself up next to a car in which Aziz was travelling, killing his chauffeur and eight others. However, 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.
Aziz was elected Prime Minister by parliament on August 27, 2004, by a vote of 191 to 151 in the National Assembly of Pakistan
, and was sworn in on August 28, 2004. Pakistan Media labeled 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 labeled 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, and he presided over an unprecedented boom in the Pakistani economy as well as broad based structural reforms.
Aziz left office on November 16, 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.
attempt in the small town of Fateh Jang
in Attock District. A suicide bomber blew himself up next to a car in which Aziz was travelling, killing his chauffeur and eight others.
, played an important role in establishing of both military
and civilian
purpose nuclear power plant
s within Pakistan. Aziz launched work on the 325-megawatt plant in Chashma, which is the second to be built at the site with Chinese help. He also met with then-PAEC
Chairman Mr. Parvez Butt
, who, together with fellow scientists and engineers, submitted a long-term nuclear power plants and nuclear technology
plan. On December 28, 2005, Aziz inaugurated Chasma nuclear power plant along with PAEC Chairman Parvez Butt, where both Chinese and Pakistani nuclear scientists attended. In an inauguration, Prime Minister Shaukat Aziz said "a milestone" in the history of nuclear technology in Pakistan". He also allowed PAEC to upgrade its nuclear laboratories and Karachi nuclear power plant. He also sat up funds of PAEC to established more nuclear power plants within the country. Prime Minister Shaukat Aziz allowed PAEC to designed another heavy water
power plant in Khushab district of Punjab.
Aziz played a pivotal role in hydroelectric power plants project in Pakistan. He also assisted President of Pakistan
, General Pervez Musharraf
in the Diamer-Basha Dam project. On January 17, 2006, he announced the decision of Government to construct 5 multi-purpose storages in the country during next 10 –12 years. Diamer Basha Dam Project will be undertaken in the first phase. His efforts were heavily involved in launching of wind power plants in Pakistan. Aziz also set up Solar Power
plants in different cities of Pakistan. He is also credited with establishing particle accelerator
s in the universities of Pakistan. He, along with known Pakistani chemist
and research scientist, Atta ur Rahman
, worked closely to establish particle accelerators at Quaid-i-Azam University
and many other universities of Pakistan. He also allotted funds of Riazuddin National Center for Physics
, also at Qau.
Aziz chaired a meeting of WAPDA's and KESC scientists on 2006. He was briefed by the Deputy Chairman Planning Commission Dr. Muhammad Akram. He issued directions to the concerned ministries and departments to focus on energy requirements of the country with a view to sustaining the tempo of development. He would also convene a meeting soon to draw up a plan for the purpose. Dr. Akram said in the Press Conference that the "Prime Minister has given special directives to meet the energy demand in the country. He said that Prime Minister will be convening a meeting of WAPDA, its transmission and distribution departments and petroleum sector in next two weeks to discuss with officials the energy issues to ensure future requirements and not to affect industrial and agricultural growth in the country.
Chief of Air Staff, Air Chief Marshal
Tanvir Mahmood Ahmed
, where he discussed him about the Pakistan's JF-17 Thunder
program. He also set up a separate fund for JF-17 Thunder program. On April 2007, Aziz visited the People's Republic of China
, where he met with high government and military officials. Aziz signed a deal with Chinese to deliver Chengdu J-10
fifth-generation aircraft.
On August 2006, Aziz visited People's Republic of China. He sought Chinese cooperation in rocket science
and space technology
. China can help Pakistan in developing and launching satellites. In a joint statement of Prime Minister Shaukat Aziz and Chinese Premier
Wen Jiabao
said that "both countries are determined to elevate their friendship and strategic partnership".
In 2007, after a visit to China, the Prime Minister said in a press conference held in Islamabad
that serial production of JF-17 Thunder would soon start in 2008 and Pakistan would like to sell fourth generation JF-17 Thunder multirole combat aircraft to those interested. The Prime Minister also confirmed that the JF-17s in Pakistan had completed 500 combat missions/sorties.
The same year, he met with chairman of SUPARCO, the leading Pakistani space agency, where he was briefed by the chairman on the status of Pakistan's Space Program. Prime Minister Shaukat Aziz gave green signal SUPARCO to developed PAKSAT-IR and Satellite Launch Vehicle
to be developed. However, the status of SLV
are remained unclear.
Pakistan's Economic Indicators
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 $ 90 billion
Foreign Direct Investment grew by 500% — to become $ 8.4 billion
Annual Debt servicing decreased by 35% — to become 26%
Poverty decreased by 10% — to become 24%
literacy rate grew by 10% — to become 90%
Public development Funds grew by 100% — to become Rs 520 billion.
In 2008, Aziz participated in the Global Creative Leadership Summit, organized 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.”
. and The Blackstone Group. He as well made good relations with several Members of National Assembly including Mahmood Kasuri
Ex Foreign Minister,
Sheikh Rasheed
Ex Minister for Railway and Mian Farhan Latif Ex MNA of Toba Tek Singh.
|-
Prime Minister of Pakistan
The Prime Minister of Pakistan , is the Head of Government of Pakistan who is designated to exercise as the country's Chief Executive. By the Constitution of Pakistan, Pakistan has the parliamentary democratic system of government...
from May 20, 2004 to 15 November 2007 in a joint military government
Military government
Military government can refer to conditions under either Military occupation, or Military dictatorship.-Military Government:Military government is the form of administration by which an occupying power exercises governmental authority over occupied territory.The Hague Conventions of 1907 specify...
led by General Pervez Musharraf. A Citibank
Citibank
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...
executive, Aziz returned to Pakistan from the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
to be became Finance Minister in November 1999 after being requested by General Pervez Musharraf. In 2004, Aziz was named by the Pakistan Muslim League
Pakistan Muslim League (Q)
The Pakistan Muslim League or officially Pakistan Muslim League is a centrist, modern political party in Pakistan. The present form of PML-Q was formed prior to 2002 general elections....
, a conservative front, for the position of Prime Minister after the resignation of Zafarullah Khan Jamali
Zafarullah Khan Jamali
Mir Zafarullah Khan Jamali was the 13th Prime Minister of Pakistan and former Chairman of the Pakistan Hockey Federation.-Early life:Born in Baluchistan, Jamali was the second Baluch Prime Minister of Pakistan...
on June 6, 2004. He became 24th Prime Minister of Pakistan on August 28, 2004 and served until November 15, 2007. He became the first Prime Minister of Pakistan to complete a full term in office.
Aziz widely given credit for stabilizing the economy
Economy of Pakistan
The economy of Pakistan is the 47th largest in the world in nominal terms and 27th largest in the world in terms of purchasing power parity . Pakistan has a semi-industrialized economy, which mainly encompasses textiles, chemicals, food processing, agriculture and other industries...
, and also given credit for introducing the new tax reforms, deregulation of the economy, the social growth of Pakistan society. In 2006, Pakistan was listed in Next Eleven
Next Eleven
The Next Eleven are eleven countries—Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, Philippines, South Korea, Turkey, and Vietnam — identified by Goldman Sachs investment bank and Jim O'Neill as having a high potential of becoming, along with the BRICS, the world's largest...
and received praise from world leaders for stabilizing the economy, financial system, and economical growth in the country. Aziz is considered one of the most confident members of General Pervez Musharraf, and it was said that Musharraf had eye-blindly trusted Shaukat Aziz in many of economical, trade, and Foreign policies led and approved by Aziz. After his tenure completed, Aziz went on to settle in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
where he is currently serving on the Boards of Millennium and Copthorne Hotels plc
Millennium & Copthorne Hotels
Millennium & Copthorne Hotels plc is a leading British-based hotel business. Including the pipeline, the company owns or operates over 120 hotels in 19 countries around the world...
Education
Aziz born in in 1949 to a Urdu-speaking class in Karachi, West-Pakistan. Aziz attended Saint Patrick's High SchoolSaint Patrick's High School, Karachi
St Patrick's High School, located in Saddar Town in Karachi, Sindh, Pakistan, is one of the oldest educational institutions in Pakistan. The principal is Fr. Joseph Paul and vice principal Fr. Nobert Mendonca.- History :...
and and later attended the Abbottabad Public School
Abbottabad Public School
Abbottabad Public School, or APS or Railway Public School, is a public, all boys, boarding school for 7th to 12th grade students, located in Abbottabad, Pakistan...
. He passed his Intermediate from St. Patrick's College (Karachi). He graduated with a B.Sc.
Bachelor of Science
A Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...
degree in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
from Gordon College
Gordon College (Rawalpindi)
Gordon College Rawalpindi is a college in Rawalpindi, Pakistan that was established as a school in 1893.Gordon's college year is made up of annual system: in which the examination are held once every year. Enrollment at Gordon College is in thousands of students, with around hundreds living on campus...
, Rawalpindi
Rawalpindi
Rawalpindi , locally known as Pindi, is a city in the Pothohar region of Pakistan near Pakistan's capital city of Islamabad, in the province of Punjab. Rawalpindi is the fourth largest city in Pakistan after Karachi, Lahore and Faisalabad...
, in 1967. He obtained an M.B.A.
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
Degree in 1969 from Institute of Business Administration
Institute of Business Administration, Karachi
The Institute of Business Administration is a university and a business school in Karachi, Pakistan. According to the Higher Education Commission of Pakistan, IBA is one of the best business and IT institutes in Pakistan...
(IBA) in Karachi, one of the premier business schools in Pakistan. It was during his studies at the IBA that he secured an internship at Citibank
Citibank
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...
and began his banking career.
Banking career
In 1969, he joined Citibank and started his career as Credit Officer from CitiBankCitibank
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...
Pakistan. During his career, Aziz subsequently served in various countries including Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
, Greece
Greece
Greece , officially the Hellenic Republic , and historically Hellas or the Republic of Greece in English, is a country in southeastern Europe....
, United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
, Malaysia, Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
, Jordan
Jordan
Jordan , officially the Hashemite Kingdom of Jordan , Al-Mamlaka al-Urduniyya al-Hashemiyya) is a kingdom on the East Bank of the River Jordan. The country borders Saudi Arabia to the east and south-east, Iraq to the north-east, Syria to the north and the West Bank and Israel to the west, sharing...
, Saudi Arabia
Saudi Arabia
The Kingdom of Saudi Arabia , commonly known in British English as Saudi Arabia and in Arabic as as-Sa‘ūdiyyah , is the largest state in Western Asia by land area, constituting the bulk of the Arabian Peninsula, and the second-largest in the Arab World...
and Singapore
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
. Aziz held various and prestigious positions in Citibank including Corporate and Investment Banking (CIB), Corporate Planning Officer (CPO), Chief Financial Officer of Citicorp, and Manager Director of Citiban Singapore. He has been a board member of Citibank subsidiaries, including Saudi American Bank, Citicorp Islamic Bank, and of several non-profit organizations.
Finance Minister
General Pervez Musharraf arrived for a small trip to United StatesUnited States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
shortly after he had deposed Prime minister
Prime Minister of Pakistan
The Prime Minister of Pakistan , is the Head of Government of Pakistan who is designated to exercise as the country's Chief Executive. By the Constitution of Pakistan, Pakistan has the parliamentary democratic system of government...
Navaz Sharif in a coup d'état on October 1999. On 26 November 1999, while addressing a gathering of PakPAC, a political lobbying sub-body of the Association of Pakistani Physicians of North America
Association of Physicians of Pakistani Descent of North America
The Association of Physicians of Pakistani Descent of North America is an American physicians not for profit organization headquartered in Westmont, Illinois. It was formerly known as the Association of Pakistani Physicians of North America when it started in 1976 and was formally incorporated in...
(APPNA), Musharraf stated that Shaukat Aziz has come to Pakistan with forty other financial experts who have offered free service to revive the Pakistani economy. Then he asked Shaukat Aziz to stand up and introduce himself to the audience.
In November 1999 Aziz became the Finance Minister
Finance Minister of Pakistan
The Finance Minister of Pakistan heads the Ministry of Finance and serves in the Prime Minister's cabinet. The Minister is required to be a member of the Parliament.The current finance minister is Abdul Hafeez Shaikh...
with responsibility for Finance, Economic Affairs, Statistics
Statistics Division of the Government of Pakistan
The Statistics Division of the Government of Pakistan, also known as Statistics Division, is a Government of Pakistan's executive and federal department, which is mandate to frames policies for development of statistical services in the country...
, 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.
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 Praises: 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."
Asian Development Bank also praised Pakistan's Micro-Finance
Media Recognition: In 2001, Mr. Aziz was also named "Finance Minister of the Year" by the prestigious Euromoney and Bankers Magazines.
Prime minister
Pakistan Muslim League (Q)
The Pakistan Muslim League or officially Pakistan Muslim League is a centrist, modern political party in Pakistan. The present form of PML-Q was formed prior to 2002 general elections....
as the next Prime Minister after Mir Zafarullah Khan Jamali resigned on June 6, 2004. Aziz was Musharraf's top choice Musharraf for the candidacy of Prime ministerial post. Having described and labeled as urban gentlemen and smartly dressed, Aziz was tasked with day-to-day running of the federal government and see that policies are more effectively executed while Musharraf handles the military issues. In Pakistan, it was also said that Musharraf eye-blindly trusted Aziz and sometimes, Musharraf's approvals did not needed for the projects that required permission. Aziz quietly and more quickly undermined the elements seeking to undermine Musharraf which may have been a factor that Musharraf had eye-blindly trusted Aziz.
The post was held by Chaudhry Shujaat Hussain
Chaudhry Shujaat Hussain
Chaudhry Shujaat Hussain is a politician from Pakistan who was the Prime Minister of that country from June 30, 2004 until August 28 2004...
while Aziz fulfilled the constitutional requirement of securing a seat in the lower house of parliament. Aziz ran from two constituencies, Tharparkar-I
Tharparkar District
Tharparkar District is one of twenty three districts of Sindh province in Pakistan. It is headquarters is at Mithi. It has the lowest Human Development Index of all districts in Sindh.-Demography:...
in Sindh, and Attock District
Attock District
Attock District is a district in the north-west Punjab Province of Pakistan.The district was created in April 1904 by the merger of Talagang Tehsil in the Jhelum District with the Pindigheb, Fatehjang and Attock tehsils from Rawalpindi District of the Punjab province of British India.Attock...
. While campaigning on July 29, 2004 Aziz survived an assassination attempt in the small town of Fateh Jang
Fateh Jang
Fateh Jang is a town and the tehsil headquarters of Attock District in the Punjab province of Pakistan...
in Attock District. A suicide bomber blew himself up next to a car in which Aziz was travelling, killing his chauffeur and eight others. However, 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.
Aziz was elected Prime Minister by parliament on August 27, 2004, by a vote of 191 to 151 in the National Assembly of Pakistan
National Assembly of Pakistan
The National Assembly of Pakistan is the lower house of the bicameral Majlis-e-Shura, which also compromises the President of Pakistan and Senate . The National Assembly and the Senate both convene at Parliament House in Islamabad...
, and was sworn in on August 28, 2004. Pakistan Media labeled 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 labeled 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, and he presided over an unprecedented boom in the Pakistani economy as well as broad based structural reforms.
Aziz left office on November 16, 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.
Assassination attempt
While campaigning on July 29, 2004 Aziz survived an assassinationAssassination
To carry out an assassination is "to murder by a sudden and/or secret attack, often for political reasons." Alternatively, assassination may be defined as "the act of deliberately killing someone, especially a public figure, usually for hire or for political reasons."An assassination may be...
attempt in the small town of Fateh Jang
Fateh Jang
Fateh Jang is a town and the tehsil headquarters of Attock District in the Punjab province of Pakistan...
in Attock District. A suicide bomber blew himself up next to a car in which Aziz was travelling, killing his chauffeur and eight others.
Energy Policy
Shaukat Aziz, as Prime Minister of PakistanPrime Minister of Pakistan
The Prime Minister of Pakistan , is the Head of Government of Pakistan who is designated to exercise as the country's Chief Executive. By the Constitution of Pakistan, Pakistan has the parliamentary democratic system of government...
, played an important role in establishing of both military
Military
A military is an organization authorized by its greater society to use lethal force, usually including use of weapons, in defending its country by combating actual or perceived threats. The military may have additional functions of use to its greater society, such as advancing a political agenda e.g...
and civilian
Civilian
A civilian under international humanitarian law is a person who is not a member of his or her country's armed forces or other militia. Civilians are distinct from combatants. They are afforded a degree of legal protection from the effects of war and military occupation...
purpose nuclear power plant
Nuclear power plant
A nuclear power plant is a thermal power station in which the heat source is one or more nuclear reactors. As in a conventional thermal power station the heat is used to generate steam which drives a steam turbine connected to a generator which produces electricity.Nuclear power plants are usually...
s within Pakistan. Aziz launched work on the 325-megawatt plant in Chashma, which is the second to be built at the site with Chinese help. He also met with then-PAEC
Pakistan Atomic Energy Commission
The Pakistan Atomic Energy Commission, , is an administrative governmental and autonomous science and technology governmental department of Pakistan, responsible for development of nuclear energy and development of nuclear power sector in Pakistan...
Chairman Mr. Parvez Butt
Parvez Butt
Pervez Butt is a Pakistani nuclear engineer and the former chairman of the Pakistan Atomic Energy Commission from 2001 to 2006. A nuclear engineer by profession, Parvez Butt played an important role in the development of the Pakistan's nuclear power and weapons program...
, who, together with fellow scientists and engineers, submitted a long-term nuclear power plants and nuclear technology
Nuclear technology
Nuclear technology is technology that involves the reactions of atomic nuclei. Among the notable nuclear technologies are nuclear power, nuclear medicine, and nuclear weapons...
plan. On December 28, 2005, Aziz inaugurated Chasma nuclear power plant along with PAEC Chairman Parvez Butt, where both Chinese and Pakistani nuclear scientists attended. In an inauguration, Prime Minister Shaukat Aziz said "a milestone" in the history of nuclear technology in Pakistan". He also allowed PAEC to upgrade its nuclear laboratories and Karachi nuclear power plant. He also sat up funds of PAEC to established more nuclear power plants within the country. Prime Minister Shaukat Aziz allowed PAEC to designed another heavy water
Heavy water
Heavy water is water highly enriched in the hydrogen isotope deuterium; e.g., heavy water used in CANDU reactors is 99.75% enriched by hydrogen atom-fraction...
power plant in Khushab district of Punjab.
Aziz played a pivotal role in hydroelectric power plants project in Pakistan. He also assisted President of Pakistan
President of Pakistan
The President of Pakistan is the head of state, as well as figurehead, of the Islamic Republic of Pakistan. Recently passed an XVIII Amendment , Pakistan has a parliamentary democratic system of government. According to the Constitution, the President is chosen by the Electoral College to serve a...
, General Pervez Musharraf
Pervez Musharraf
Pervez Musharraf , is a retired four-star general who served as the 13th Chief of Army Staff and tenth President of Pakistan as well as tenth Chairman of the Joint Chiefs of Staff Committee. Musharraf headed and led an administrative military government from October 1999 till August 2007. He ruled...
in the Diamer-Basha Dam project. On January 17, 2006, he announced the decision of Government to construct 5 multi-purpose storages in the country during next 10 –12 years. Diamer Basha Dam Project will be undertaken in the first phase. His efforts were heavily involved in launching of wind power plants in Pakistan. Aziz also set up Solar Power
Solar power
Solar energy, radiant light and heat from the sun, has been harnessed by humans since ancient times using a range of ever-evolving technologies. Solar radiation, along with secondary solar-powered resources such as wind and wave power, hydroelectricity and biomass, account for most of the available...
plants in different cities of Pakistan. He is also credited with establishing particle accelerator
Particle accelerator
A particle accelerator is a device that uses electromagnetic fields to propel charged particles to high speeds and to contain them in well-defined beams. An ordinary CRT television set is a simple form of accelerator. There are two basic types: electrostatic and oscillating field accelerators.In...
s in the universities of Pakistan. He, along with known Pakistani chemist
Chemist
A chemist is a scientist trained in the study of chemistry. Chemists study the composition of matter and its properties such as density and acidity. Chemists carefully describe the properties they study in terms of quantities, with detail on the level of molecules and their component atoms...
and research scientist, Atta ur Rahman
Atta ur Rahman
Atta-ur-Rahman, D.Phil., TI, SI HI, NI, is a leading scientist and scholar in the field of organic chemistry from Pakistan, especially renowned for his research in the various areas relating to natural product chemistry...
, worked closely to establish particle accelerators at Quaid-i-Azam University
Quaid-i-Azam University
The Quaid-i-Azam University is a public, research university in Islamabad Capital Territory of Pakistan. It was initially founded as the "University of Islamabad" in July 1967...
and many other universities of Pakistan. He also allotted funds of Riazuddin National Center for Physics
Riazuddin National Center for Physics
The National Centre for Physics, known as NCP, is an academic physics and mathematical sciences national research institute in Islamabad, Pakistan. The NCP was being run by Government of Pakistan till March 2004. However, in April 2004, Government of Pakistan made NCP an autonomous scientific...
, also at Qau.
Aziz chaired a meeting of WAPDA's and KESC scientists on 2006. He was briefed by the Deputy Chairman Planning Commission Dr. Muhammad Akram. He issued directions to the concerned ministries and departments to focus on energy requirements of the country with a view to sustaining the tempo of development. He would also convene a meeting soon to draw up a plan for the purpose. Dr. Akram said in the Press Conference that the "Prime Minister has given special directives to meet the energy demand in the country. He said that Prime Minister will be convening a meeting of WAPDA, its transmission and distribution departments and petroleum sector in next two weeks to discuss with officials the energy issues to ensure future requirements and not to affect industrial and agricultural growth in the country.
Defence Reforms
On March 2007, Aziz met with PAFPakistan Air Force
The Pakistan Air Force is the leading air arm of the Pakistan Armed Forces and is primarily tasked with the aerial defence of Pakistan with a secondary role of providing air support to the Pakistan Army and the Pakistan Navy. The PAF also has a tertiary role of providing strategic air transport...
Chief of Air Staff, Air Chief Marshal
Air Chief Marshal
Air chief marshal is a senior 4-star air-officer rank which originated in and continues to be used by the Royal Air Force...
Tanvir Mahmood Ahmed
Tanvir Mahmood Ahmed
Air Chief Marshal Tanvir Mahmood Ahmed is a retired four-star general and a career Air Officer in the Pakistan Air Force who commanded, as the chief of air staff of the Pakistan Air Force, from 2006 to 2009...
, where he discussed him about the Pakistan's JF-17 Thunder
JF-17 Thunder
The PAC JF-17 Thunder , or CAC FC-1 Xiaolong , is a light-weight, single-engine, multi-role combat aircraft developed jointly by the Chengdu Aircraft Industries Corporation of China, the Pakistan Air Force and the Pakistan Aeronautical Complex...
program. He also set up a separate fund for JF-17 Thunder program. On April 2007, Aziz visited the People's Republic of China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
, where he met with high government and military officials. Aziz signed a deal with Chinese to deliver Chengdu J-10
Chengdu J-10
The Chengdu J-10 is a multirole fighter aircraft designed and produced by the People's Republic of China's Chengdu Aircraft Industry Corporation for the People's Liberation Army Air Force...
fifth-generation aircraft.
On August 2006, Aziz visited People's Republic of China. He sought Chinese cooperation in rocket science
Aerospace engineering
Aerospace engineering is the primary branch of engineering concerned with the design, construction and science of aircraft and spacecraft. It is divided into two major and overlapping branches: aeronautical engineering and astronautical engineering...
and space technology
Space technology
Space technology is technology that is related to entering, and retrieving objects or life forms from space."Every day" technologies such as weather forecasting, remote sensing, GPS systems, satellite television, and some long distance communications systems critically rely on space infrastructure...
. China can help Pakistan in developing and launching satellites. In a joint statement of Prime Minister Shaukat Aziz and Chinese Premier
Premier
Premier is a title for the head of government in some countries and states.-Examples by country:In many nations, "premier" is used interchangeably with "prime minister"...
Wen Jiabao
Wen Jiabao
Wen Jiabao is the sixth and current Premier and Party secretary of the State Council of the People's Republic of China, serving as China's head of government and leading its cabinet. In his capacity as Premier, Wen is regarded as the leading figure behind China's economic policy...
said that "both countries are determined to elevate their friendship and strategic partnership".
In 2007, after a visit to China, the Prime Minister said in a press conference held in Islamabad
Islamabad
Islamabad is the capital of Pakistan and the tenth largest city in the country. Located within the Islamabad Capital Territory , the population of the city has grown from 100,000 in 1951 to 1.7 million in 2011...
that serial production of JF-17 Thunder would soon start in 2008 and Pakistan would like to sell fourth generation JF-17 Thunder multirole combat aircraft to those interested. The Prime Minister also confirmed that the JF-17s in Pakistan had completed 500 combat missions/sorties.
The same year, he met with chairman of SUPARCO, the leading Pakistani space agency, where he was briefed by the chairman on the status of Pakistan's Space Program. Prime Minister Shaukat Aziz gave green signal SUPARCO to developed PAKSAT-IR and Satellite Launch Vehicle
Satellite Launch Vehicle
The Indian Satellite Launch Vehicle or SLV was a project started in the early 1970s by Indian Space Research Organisation to develop the technology needed to launch satellites. The project was headed by Dr. APJ Abdul Kalam. SLV was intended to reach a height of 400 km and carry a payload of...
to be developed. However, the status of SLV
SLV
SLV may refer to:*El Salvador*IATA code for Shimla Airport, India*Slovenian language*Satellite Launch Vehicle, an Indian space launcher*State Library of Victoria*iShares Silver Trust, an Exchange-traded fund with the New York Stock Exchange symbol SLV...
are remained unclear.
Shaukat Aziz's credentials and Economic Policy
Shaukat Aziz is a banker by training and extensive experience in New York. His credentials are similar to those of the successful US treasury secretaries such as Bob Rubin and Nick Brady who did well under Clinton and Reagan administrations. He understands the role of banking, finance, investment and consumer credit in economic growth of a nation. He focused on building strong banking, investment and finance sectors in Pakistan to underpin its economy. He strengthened capital availability, an essential and increasingly important economic input, in addition to labor 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 labor to fill new jobs. He pushed land development and public and private construction spending to improve infrastructure and facilities to attract greater business investment. Aziz was largely successful in his efforts. He was regarded 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.Pakistan's Economic Indicators
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 $ 90 billion
Foreign Direct Investment grew by 500% — to become $ 8.4 billion
Annual Debt servicing decreased by 35% — to become 26%
Poverty decreased by 10% — to become 24%
literacy rate grew by 10% — to become 90%
Public development Funds grew by 100% — to become Rs 520 billion.
In 2008, Aziz participated in the Global Creative Leadership Summit, organized 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.”
Post-politics
Shaukat Aziz currently resides in London, United Kingdom and is currently serving on the Boards of Millennium & Copthorne Hotels plcMillennium & Copthorne Hotels
Millennium & Copthorne Hotels plc is a leading British-based hotel business. Including the pipeline, the company owns or operates over 120 hotels in 19 countries around the world...
. and The Blackstone Group. He as well made good relations with several Members of National Assembly including Mahmood Kasuri
Khurshid Mahmud Kasuri
Mian Khurshid Mahmood Kasuri is a Pakistani politician and diplomat. He was the Foreign Minister of Pakistan from 2002 to 2007.- Family background :Khurshid M. Kasuri belongs to one of the old political families of Pakistan...
Ex Foreign Minister,
Sheikh Rasheed
Shaikh Rasheed Ahmad
Sheikh Rashid Ahmed is a Pakistani politician and writer. He served as the Federal Minister for Railways in Pakistan from 2006 to 2008. His previous portfolio have included appointments as Federal Minister for Labor and Manpower, Information and Broadcasting, Industries, Sports Culture, and...
Ex Minister for Railway and Mian Farhan Latif Ex MNA of Toba Tek Singh.
External links
- Economic Pakistan
- Profile by BBCBBCThe British Broadcasting Corporation is a British public service broadcaster. Its headquarters is at Broadcasting House in the City of Westminster, London. It is the largest broadcaster in the world, with about 23,000 staff...
dated July 30, 2004 - The Turnaround Wizard - Asia Inc. cover story, March 4, 2004
- Asiasource interview of Shaukat Aziz dated April 20, 2004
- Shaukat Aziz's Economic Legacy
- A conversation with Pakistan Prime Minister Shaukat Aziz South China Morning Post dated 28 March 2007
- NNDB Profile of Shaukat Aziz
- BOI Pakistan Economic indicators
- Pakistan's Former Prime Minister Defends His Country - The Daily Beast June 7, 2011
- Pakistan, China enjoy multi-faceted relationship: former Pakistani PM - June, 28, 2011
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