Bringing back Fmr. PM Shaukat Aziz?

[razgriz19]

If he is really a very very good PM than why did he flew from Pakistan and never turn back?

ok first of all he was a foreigner!
Musharraf asked him to become the PM because he was the only person who could bring back the economy on track, which he DID.
when he finished his term, he moved back to get his job. is it a crime to go back to your previous life?
i guess not...eh

 

[razgriz19]

So you want to replace corrupts with another corrupt, the economy will stay the same, there was no miracle in musharraf-pml-q era, I am still looking for my darn post its somewhere in economy section so i can list you the failures of the previous government. By the way shaukat aziz is just a general banker not economic specialist saint.

Here is musharraf era lead by mushy and aziz no thankyou we don't want suckers:

Musharraf’s regime broke all records in borrowing and pushed the country into a debt trap, well now that has been equally over taken by PPP. State Bank reports showed the government had borrowed a staggering amount of over $15 billion in the four years to 2006, as the country’s total debt and liabilities reached $40 billion by 2007. Such debt apart from additional borrowing was also composed of rescheduled debt as the Musharraf government continued borrowing to fund basic government duties and the inability to generate sufficient wealth from the domestic economy. Such amounts of debt never existed in the history of Pakistan. By the end of 2004, the total external debt was $33 billion. If the government had stopped borrowing as it claimed, the country’s total debt would have declined to $23 billion, based upon Pakistan’s regular yearly payments by the end of June 2007.

With the absence of basic industry in Pakistan, imports became critical and continued to rise. Due to this Pakistan faced an all time high trade deficit. Pakistan borrowed over $3 billion during 2006-2007. The figures reveal that the huge borrowing was made to pay debt and continuous current account deficits. This is because the Pakistani government had been unable to provide for the basic needs of the country, and was forced to import more and more from abroad, to the point where exports were exceeded and this resulted in a trade deficit. Average annual payment of debt servicing reached $3.3 billion in 2007. The current account deficit for the fiscal year ending on June 30, 2007 had increased by 41% reaching $7 billion. Instead of reducing dependency on imports by building a strong domestic industrial base and refining abundant local raw materials the Musharraf government relied on unreliable sources like foreign direct investment (FDI) and privatization to meet the gap.

This clearly shows the Musharraf regime’s lack of vision failed to develop the foundations of a productive economy. During Musharraf’s tenure the Pakistan economy became reliant upon the service sector, real estate, and the stock market. The real productive sectors of the economy, both industry and agriculture, were ignored. The infrastructure in Pakistan was not upgraded and as a result the country today faces a serious energy crisis. The social sectors continued to be neglected with expenditure for education and health sectors much lower than those of previous governments.

card stacking....
why dont you look at what Pakistan was before 1999...?

here is a quote from "aziz" himself, i would recommend you to read the whole article!

When you assumed the position of Finance Minister, what economic problems was Pakistan confronted with and to what extent do you think the present military government has been able to adequately address them?
I think these are well-known so let me just give you a very brief overview. Pakistan was in severe economic crisis. We were known as a "one-tranche country". We used to take one tranche from the IMF. We were constantly in Fund programs. We would violate all the conditions of the program and it would be stalled, and then we would go back. This was the routine more or less. We had severe balance-of-payments problems. We did not know how to meet our foreign exchange expenses beyond a certain day. Our debts were technically in default; some were past due and no new credit was available from the market. Growth was low, inflation was high, investment was virtually non-existent, flight of capital was rampant, currency was depreciating and deteriorating very fast, credit ratings were at selective default. Incidentally, this latter is not our view, it is the view of S&P and Moody's, both independent, professional, rating houses. If you pick up any of these documents, it is clear Pakistan was a very troubled state from an economic standpoint. There are other factors, too.
Today, after four and half years, we have provided a vision of where Pakistan ought to be going. Pakistan has a tremendous opportunity to excel even more. We have excellent human capital, second to none, the people are very, very talented if given an opportunity. We have an excellent location between South Asia, Central Asia and the Middle East. And we have an abundance of resources: water, agriculture, minerals, hydrocarbons, etc. What we need is good management and good leadership.
The human capital of Pakistan, which I believe is the best asset we have, was previously not being leveraged. Now it is moving in the right direction. Naturally we still have a lot of challenges. We have to focus more on improving education levels, health standards, the police process, the justice system. We have to provide basic necessities to the people. Poverty-reduction is all about providing opportunities. It is not just income-poverty; lack of education is poverty in a sense, as is lack of good health. Deprivation in any form leads to poverty. There we have made progress, but there is still a long way to go. Every developed and developing country has a certain segment of its population in poverty. You see this around New York!
We have a very broad agenda of structural reforms which stacks up against the best reform programs anywhere in the world. In parallel, we worked on improving the macroeconomic situation and reforming, so that we could sustain some of this. Our task is far from over but we have certainly got over the hump. There is still a long way to go. You can't change a country's economic direction overnight, it takes awhile. We took the hard road, which means we went into the foundations of what was wrong and tried to fix it, which took longer. We did not go for gimmicks or quick-fixes, which would not have lasted or been able to sustain themselves.
In terms of our reforms, they covered a whole range of subjects: education, health, justice, agriculture, the petroleum sector, the financial sector, capital markets, governance, government structure, political reform. It was a very comprehensive agenda. In some areas we have done better than others but all is proceeding. And if you talk to anybody independent - look at the published material - they will acknowledge that the reform agenda today stacks as one of the better reform agendas of any developing country, especially in areas like capital markets, the financial sector, the petroleum sector, etc. Others need more work and we are at it. Our task is far from over.

Economic Growth in Pakistan | Asia Society

 

[Fracker]

This criteria makes Zia-ul-haq the best ever person to be returned.

Funny thing people thinks SA did work out on the economy, yet i don't know where all money went for privatization, Since, foreagin resources remain same as they were in 1999, and Pakistan lost lots of their Valuable assets.

Any ways, who cares Pakistanis are fool enough for fall for anything e.g. Sympathy votes

 

[Luftwaffe]

All credit goes to Musharraf who had this team setup for Pakistan.

You mean Poor performance read post #14

without Musharraf SA had no leadership qualities.



But he is a very well economist.



He laid ground for economy growth and Musharraf facilitated what was needed to achieve it.

Read post #14, what achievements nada zilch.

It's funny how people are giving credit to the team which was picked only by Musharraf. yet Musharraf is the bad guy. other day i was watching PJ mir program and chaudray was on it and he was praising himself along with jahil public but it's sad that how biased our nation is. When good is directed it is directed to none creditors and when bad is directed it is to Musharraf only. indeed american senator was right to say that Pakistan is a nation which is committed to destroy herself from every side. a nation working hard to destroy herself i'm not proud on her words but her words are reality.

Read up my #14, credit goes to musharraf and his team for Poor economic performance. The reality is musharraf had give more importance to Armed Forces (although thanks for that) then economy the fact is proven by the official state bank report I've posted.

mushy is stuck and has to clarify many things before he can even come forward as a candidate for any political post, he has his hand stained with 45000 Pakistani death.

 

[Pakistanisage]

Shaukat Aziz was a corrupt and greedy PM who raked in money with both hands. The man is worth at least 200 million usd. Ask him to account for this wealth and you would know how corrupt he was. There is a reason why he was the lap dog for the most corrupt Politicians, the Chaudhary Brothers.

A man is known by the company he keeps. Shaukat Aziz was in bed with the worst kind of most corrupt of politicians.

 

[moha199]

Shaukat Aziz was PM from 20 August 2004 – 15 November 2007. now you spoke of steel mill right? Steel mills earned a net profit of Rs 1.24 billion in 2003, Rs 4.85 billion in 2004, and Rs 6.74 billion in 2005 a major financial and administrative restructuring was done in 2002 which turned PSMC into a profitable organisation.
you said it was being sold to Mittel steel? dude get your facts straight. here is to help you with some info, In May 2006, the government of General Musharraf privatized Pakistan Steel Mills. The consortium involving Saudi Arabia-based Al Tuwairqi Group of Companies submitted a winning bid of $362 million for a 75 per cent stake in Pakistan Steel Mills Corporation (PSMC) at an open auction held in Islamabad. the consortium of Saudi Arabia-based Al Tuwairqi Group of Companies, Russia's Magnitogorsk Iron & Steel Works and local firm Arif Habib Securities paid a total Rs21.6 billion ($362 million), or Rs16.8 per share, to take control of Pakistan's largest steel manufacturing plant.
Tuwairqi Group of Companies, one of the Ieading business concerns in Saudi Arabia, also launched a $300 million steel mills project at Bin Qasim. The group will set up Tuwairqi Steel Mills (TSM), a state-of-the-art steel-making plant in the southern port city of Gawadar, Pakistan.

now here who called this privatization as wrong, make sure check the dates.
State cannot run Pakistan Steel Mills: Cheema - GEO.tv

CJ Iftikhar Chaudhary responsible for Steel Mill fate!!!! - YouTube

Pakistan Steel Mill Corruption.avi - YouTube

Pakistan Steel Mill Worthless today, A profitable organisation in Sir Musharraf Time - YouTube

Pak Steel Mills and Mr Musharraf 2 - YouTube

now here is your steel mill. stuff and then you said fake economy!!! just to let you know that IMRAN KHAN IS KAFIR! now tell me that does imran khan become kafir by me saying? i can chant all i want and say he is a fake muslim but reality is opposite. Please go to college and learn what is economy then go check IMF wesites, then check World bank websites. then go check international economic figure of Pakistan then go check Pakistan state bank figures. then call it fake.

Pak Economy in 1999 was: $ 75 billion
Pak Economy in 2007 is: $ 160 billion
Pak Economy in 2008 is: $ 170 billion

GDP Growth in 1999: 3.1 %
GDP Growth in 2005: 8.4 %
GDP Growth in 2007: 7 %
GDP Growth in 2009: 2 %
GDP Purchasing Power Parity (PPP) in 1999: $ 270 billion
GDP Purchasing Power Parity (PPP) in 2007: $ 475.5 billion
GDP Purchasing Power Parity (PPP) in 2008: $ 504.3 billion

GDP per Capita Income in 1999: $ 450
GDP per Capita Income in 2007: $ 921
GDP per Capita Income in 2008: $1042

Pak revenue collection 1999: Rs. 305 billion
Pak revenue collection 2007: Rs. 708 billion
Pak revenue collection 2008: Rs. 990 billion
Pak revenue collection 2009: Rs. 1150 billion

Pak Foreign reserves in 1999: $ 1.96 billion
Pak Foreign reserves in 2007: $ 16.4 billion
Pak Foreign reserves in 2008: $ 8.89 billion
Pak Foreign reserves in 2009: $ 14.4 billion

Pak Exports in 1999: $ 8 billion
Pak Exports in 2007: $ 18.5 billion
Pak Exports in 2008: $ 19.22 billion
Pak Exports in 2009: $ 17.78 billion

Textile Exports in 1999: $ 5.5 billion
Textile Exports in 2007: $ 11.2 billion

KHI stock exchange 1999: $ 5 billion at 700 points
KHI stock exchange 2007: $ 75 billion at 14,000 points
KHI stock exchange 2008: $ 46 billion at 9,300 points and $20 billion at 4,972 points
KHI stock exchange 2009: $ 26.5 billion (Source) at 9,000 points

Foreign Investment in 1999: $ 301 million
Foreign Investment in 2007: $ 8.4 billion
Foreign Investment in 2008: $ 5.19 billion

Large Scale Manufacturing (LSM) in 1999: 1.5%
Large Scale Manufacturing (LSM) in 2005: 19.9%
Large Scale Manufacturing (LSM) in 2007: 8.8%
Large Scale Manufacturing (LSM) in 2008: 4.1%
Large Scale Manufacturing (LSM) in 2009: (-8.2 %)

Debt (External Debt & Liabilities) in 1988: $ 18 billion
Debt (External Debt & Liabilities) in 1999: $ 39 billion
Debt (External Debt & Liabilities) in 2007: $ 40.5 billions
Debt (External Debt & Liabilities) in 2009: $ 52 billion

Debt servicing 1999: 65% of GDP (Source) & (Source)
Debt servicing 2007: 28.1% of GDP (Source) & (Source)
Debt servicing 2008: 27% of GDP (Source)
Debt servicing 2009: 32% of GDP (Source)

Poverty level in 1999: 34% (Source) and (Source)
Poverty level in 2007: 24% (Source) and (Source)

Literacy rate in 1999: 45% (Source)
Literacy rate in 2007: 53% (Source) and

Pak Development programs 1999: Rs. 80 billion
Pak Development programs 2007: Rs. 520 billion
Pak Development programs 2008: Rs. 549.7 billion
Pak Development programs 2010: Rs. 300 billion

go check this Forexpk.com Forex Currency Rates Pakistan - Forex Open Market Rates - Prize Bond Draw Result - Rates and schedule - Finance News & Updates


Economy of Pakistan - Wikipedia, the free encyclopedia

call it all fake now and look the other way because this is what you guys are good for. denying the truth because it hurts, and then you are left with noting to accuse him

I think u people forgot he was the one selling Pakistan Steel Mills to Mittel Steel which was stopped by Supreme court.

He was one who ran away from this country the very moment he was off the seat.

He created 8.4 GDP which was all fake economy , he knows who to play with numbers so he did .Faking everything.

U can feel the heat of those faking now , like no electricity e.t.c

I will say bring him back take all what he got from Pakistan and send him back to loot the foriegn countries.

I really wish that if people like these act for Pakistan then we would truly have been a power in our region.But alas we are not because some son of the land thinks that selling there mother for money is justified.

i will vote a BIG NO to this man.

 

[iioal malik]

This is low thinking by some of the PTI MQM PPP PML Q supporters !!!!!!!!!

 

[moha199]

here is WORLD BANK REPORTS ON PAKISTAN, sorry that Musharraf was smart enough to fool entire world!
http://www-wds.worldbank.org/extern...60523095241/Rendered/PDF/354991PK0rev0pdf.pdf

Pakistan - Growth and Export Competitiveness, Vol. 1 of 1
Macroeconomics & Economic Growth - Growth in Pakistan
this is on poverty reduction
http://www-wds.worldbank.org/extern...60016_20050627125808/Rendered/INDEX/32277.txt

http://ishrathusain.iba.edu.pk/spee...es/National_Economy_Impact_of_Foreign_Aid.pdf

 

[AstanoshKhan]

ISI forewarned Nawaz Sharif on the selection of Musharraf as COAS, but he went ahead for obvious reasons. Later, the same Musharraf over threw Nawaz's Govt. and became a sole person for running the country and making every single decision on his own. He handpicked Shoukat Aziz from no where and made him the Prime Minister of Pakistan even though there were far better people in Pakistan lining to be the PM - but Musharraf went ahead with a person who was outside Pakistan for over 20 years, having dual nationality.

Moreover, the AirBlue we see in Pakistan is of Shoukat Aziz, which has been bought on the money of wheat we were to import - the wheat didn't come but AirBlue did. It's a case of huge amount of corruption - can't you people see this?

Musharraf was there to work for the US objectives, he was supported economically by the west for solemnly that reason, Shoukat was there to give people the (wrong) perception of a prosperous Pakistan, but my countrymen didn't know, they've bee sold out to the crusaders in return of that fake economic Pakistan. Why Shoukat and Musharraf did not invest much in the electricity and energy production?

BTW, why are you people wasting your time and energies on tried and tested people who are history now?

 

[A1Kaid]

ISI forewarned Nawaz Sharif on the selection of Musharraf as COAS, but he went ahead for obvious reasons. Later, the same Musharraf over threw Nawaz's Govt. and became a sole person for running the country and making every single decision on his own. He handpicked Shoukat Aziz from no where and made him the Prime Minister of Pakistan even though there were far better people in Pakistan lining to be the PM - but Musharraf went ahead with a person who was outside Pakistan for over 20 years, having dual nationality.

Moreover, the AirBlue we see in Pakistan is of Shoukat Aziz, which has been bought on the money of wheat we were to import - the wheat didn't come but AirBlue did. It's a case of huge amount of corruption - can't you people see this?

Musharraf was there to work for the US objectives, he was supported economically by the west for solemnly that reason, Shoukat was there to give people the (wrong) perception of a prosperous Pakistan, but my countrymen didn't know, they've bee sold out to the crusaders in return of that fake economic Pakistan. Why Shoukat and Musharraf did not invest much in the electricity and energy production?

BTW, why are you people wasting your time and energies on tried and tested people who are history now?

Good point, we're just having a discussion on the pros and cons. To be honest I would prefer seeing an all new technocratic intelligent Muslim administration in Pakistan, whose knowledge, valor, belief, are all strong.

 

[Luftwaffe]

card stacking....
why dont you look at what Pakistan was before 1999...?

There is actually nothing significant to read, the topic is musharraf era and that aziz mian to be imported as pm and the results are pretty much what state bank of Pakistan explained that in mushy era under pm aziz it was terrible the lending and loans from all over the banks, imf, world bank, islamic bank was on the peak just as ppp is doing.

You know what it does not matter what was it before 2006 in the end the graph was down and below economy was on its knees under shaukat aziz mian as PM therefore is there any explanation left for the poor performance for the last 3 years of their rule? I would take the official report of Pakistan State Bank then any of those articles you post.

All of you pro mushy lot can post anything the numbers always increase with time as population and consumption increases no special effects here my friends you have to accept in the light of what your independent State Bank of Pakistan tells you mushy fkup pretty bad and do you know know mushy is against aziz and aziz is against mushy do you people know the reason? find it out yourselves and you will know what really happened to Pakistan poor economy under them.

 

[Tayyab1796]

Shaukat Aziz could serve as a good finance minister but PTI has some very good financial experts in their ranks , Dr. Firdous Naqvi for example , also PMLN's Ishaq Dar isn't a very bad choice (he and Javed Hashmi r only 2 sane voices in Nalaiq league), our problems hav compounded so much in these 4 NRO/COD years that it will take ages to recover .

 

[Luftwaffe]

Shaukat Aziz could serve as a good finance minister but PTI has some very good financial experts in their ranks , Dr. Firdous Naqvi for example , also PMLN's Ishaq Dar isn't a very bad choice (he and Javed Hashmi r only 2 sane voices in Nalaiq league), our problems hav compounded so much in these 4 NRO/COD years that it will take ages to recover .

I would actually rate Ishaq Dar far better then shaukat aziz. aziz can serve as adviser to finance minister but not finance minster, it is not the job of a average banker to take control of finance ministry far is Prime Ministership.

Let's move on these people are the past look forward to new people new plans new mission new Pakistan. The thread has run its course.

 

[genmirajborgza786]

So you want to replace corrupts with another corrupt, the economy will stay the same, there was no miracle in musharraf-pml-q era, I am still looking for my darn post its somewhere in economy section so i can list you the failures of the previous government. By the way shaukat aziz is just a general banker not economic specialist saint.

Here is musharraf era lead by mushy and aziz no thankyou we don't want suckers:

Musharraf’s regime broke all records in borrowing and pushed the country into a debt trap, well now that has been equally over taken by PPP. State Bank reports showed the government had borrowed a staggering amount of over $15 billion in the four years to 2006, as the country’s total debt and liabilities reached $40 billion by 2007. Such debt apart from additional borrowing was also composed of rescheduled debt as the Musharraf government continued borrowing to fund basic government duties and the inability to generate sufficient wealth from the domestic economy. Such amounts of debt never existed in the history of Pakistan. By the end of 2004, the total external debt was $33 billion. If the government had stopped borrowing as it claimed, the country’s total debt would have declined to $23 billion, based upon Pakistan’s regular yearly payments by the end of June 2007.

With the absence of basic industry in Pakistan, imports became critical and continued to rise. Due to this Pakistan faced an all time high trade deficit. Pakistan borrowed over $3 billion during 2006-2007. The figures reveal that the huge borrowing was made to pay debt and continuous current account deficits. This is because the Pakistani government had been unable to provide for the basic needs of the country, and was forced to import more and more from abroad, to the point where exports were exceeded and this resulted in a trade deficit. Average annual payment of debt servicing reached $3.3 billion in 2007. The current account deficit for the fiscal year ending on June 30, 2007 had increased by 41% reaching $7 billion. Instead of reducing dependency on imports by building a strong domestic industrial base and refining abundant local raw materials the Musharraf government relied on unreliable sources like foreign direct investment (FDI) and privatization to meet the gap.

This clearly shows the Musharraf regime’s lack of vision failed to develop the foundations of a productive economy. During Musharraf’s tenure the Pakistan economy became reliant upon the service sector, real estate, and the stock market. The real productive sectors of the economy, both industry and agriculture, were ignored. The infrastructure in Pakistan was not upgraded and as a result the country today faces a serious energy crisis. The social sectors continued to be neglected with expenditure for education and health sectors much lower than those of previous governments.

totally agreed in fact it was in this imported prime mister's tenure that the pumping of the economy by some what of the U.S aid blew the bubble to show a 7% + GDP growth rate . The worst thing this cheater did is he did not industrialized the country by taking the opportunity of the good investor's confidence at that time that Pakistan had due to the positive growth image for 3 to 4 years that is enough to prove that this guy is not the right candidate & neither does he represents the best interest of Pakistan in his mind. Industrialization was/is the need of the hour which could have somewhat carried the weight of the fall back from saukat's tricks combined with the mis governance at present

 

[regular]

I think u people forgot he was the one selling Pakistan Steel Mills to Mittel Steel which was stopped by Supreme court.

He was one who ran away from this country the very moment he was off the seat.

He created 8.4 GDP which was all fake economy , he knows who to play with numbers so he did .Faking everything.

U can feel the heat of those faking now , like no electricity e.t.c

I will say bring him back take all what he got from Pakistan and send him back to loot the foriegn countries.

I really wish that if people like these act for Pakistan then we would truly have been a power in our region.But alas we are not because some son of the land thinks that selling there mother for money is justified.

i will vote a BIG NO to this man.

Now he is the financial advisor to the same Mithal guy in UK....He realli screwedup Pakistan financially creating fake GDP figures. He was selling everything belonging to us on pennies to the foreign agent companies....

---------- Post added at 04:17 PM ---------- Previous post was at 04:15 PM ----------

We don't need any foreign imported person to run our govt...they are mostly US/UK agents to screwup us all the time.....