IMF man to head State Bank of Pakistan

[LeGenD]

 

[pragmatic_dude]

Is he a Pakistani National?Appointing an IMF employee as a head of state Bank is liking handing over your all treasury to IMF.
It's going to be more inflation after the budget ,coz This time IMF is making the budget ...
Allah khair kray ....

He is a pakistani national.

 

[TheNoob]

Wtf.
This guy better be Pakistani or nothing.

 

[zulu]

NS ,Mian Mansha and Ishaq Dar himself even using govt loans to buy it.Rauf Klasra did many progs and article on it with proof but our honorable court consider him innocent and allow to leave the country than who we are to argue ?

Please, remember the bonds Isaq $ floated... this year alone we got to pay $1 Bln on them... and of course, you would know who bought those bonds!!!

 

[Zee-shaun]

Hmm good or bad for Pakistan?

 

[CrazyZ]

Lets see how he performs. His credentials are good. He has to get on board with changing the direction of Pakistan economy to one that is based on the East Asian model. My main concern with the IMF is that they push an Anglo-American economic model that drives a de-industrialized import based growth. This model has failed big time in Pakistan.

 

[Indus Pakistan]

Kindly, look at Malaysian and Chinese SOEs... why can't Pak have SOEs...

Pakistan must divest and sell all SOE's. We are not China or Malaysia. Your omparing apples with oranges. The reality is our political system throws up irresponsible leaders. Imran Khan will not be aroundv forever. Maybe 5 or ten years at best. If SOE's are not sold when Zardari-Bhuttos or Sharif Juniors inevitably take over down the road they will use these SOE's again to stuff with their political workers. China and Malaysia don't have that problem.

As regards the new appointoments I have no issues even if they worked for Bank of Israel. What matters is performance and calibre. If these gents can deliver then hurrah if not show them the door. If you look at UAE they employ anybody from anywhere as long as they are the best. Take Emirate airlines, most of it's senior management is British.

 

[VCheng]

The notification for Dr Baqir’s appointment was issued late on Friday night.

Why are people getting upset at IMF when it is PMIK who is responsible for approving this appointment? He must have made this decision in the best interests of Pakistan.

 

[Indus Pakistan]

Lets see how he performs. His credentials are good. He has to get on board with changing the direction of Pakistan economy to one that is based on the East Asian model. My main concern with the IMF is that they push an Anglo-American economic model that drives a de-industrialized import based growth. This model has failed big time in Pakistan.

Some of the most successful countries in Asia have been driven by and worked under direct US umbrella. South Korea, Japan, Singapore, Taiwan come to mind. These are the East Asian tigers ....

 

[pragmatic_dude]

Why are people getting upset at IMF when it is PMIK who is responsible for approving this appointment? He must have made this decision in the best interests of Pakistan.

Or forced to make...

 

[VCheng]

Or forced to make...

No. PMIK is not corrupt and he has the strength of character to resist any such pressures. What he does, and will do, is and will all be better for Pakistan.

 

[war&peace]

In a way we have also to lay blame to our establishment to a degree. All the time the country was going to wolves they didn't do much.

Indeed. They were enjoying their perks & privileges and planning their post retirement plans. All this began with Musharraf signing NRO to let both crooks return to politics, then Kiyani proved to be a pet of Zardari and focussed solely on getting extension after extension. Raheel Shareef was much better but still he did not do the needful on many occasions and the same is with current COAS when he took a U-turn on the Dawn-leaks issue.

 

[CrazyZ]

Some of the most successful countries in Asia have been driven by and worked under direct US umbrella. South Korea, Japan, Singapore, Taiwan come to mind. These are the East Asian tigers ....

Yes. But did they use completely "free market" approach espoused by right wing American and British economists....A big fat no. They prove that the most successful approach is for the state to back for profit private corporations. This is how Samsung, Hyundai, Toyota, Honda, and numerous other giant corporations were developed.

 

[BHarwana]

Though his cv looks totally awesome but where are people like @BHarwana who were earlier totally criticising appointment of Atif Mian because of his imf connection.

Anyways these technocrats do not have any political affiliation and means business so I am quite hopeful that finally we have the right people for the right job. Just need to rope Asad Umer back in federal cabinet. He has the x factor in him.

@Salza my friend your grudge on me has a valid weight but my concern also had valid reason, hope you understand.

 

[Indus Pakistan]

Yes. But did they use completely "free market" approach espoused by right wing American and British economists....A big fat no. They prove that the most successful approach is for the state to back for profit private corporations. This is how Samsung, Hyundai, Toyota, Honda, and numerous other giant corporations were developed.

Your missing the point. Our problem is inside Pakistan. Not the darned IMF. Our failure is mainfested by having to go to IMF clutching our testicles. IMF does not jump on us. We go to it because we fcuk up. IMF is a symptom. We are the disease.


South Korea is practically a US colony but look how successful they are. We have had SOE's. We have a heavily regulated economy but the only thing that seems to have been nurtured in our case is rent seekers. Hyundai were rolling by 1970s.By 1980 they were exporting cars to UK.

Chung Ju-Yung founded the Hyundai Engineering and Construction Company in 1947. Hyundai Motor Company was later established in 1967. The company's first model, the Cortina, was released in cooperation with Ford Motor Company in 1968.[8] When Hyundai wanted to develop their own car, they hired George Turnbull in February 1974, the former Managing Director of Austin Morris at British Leyland. He in turn hired five other top British car engineers. They were Kenneth Barnett body design, engineers John Simpson and Edward Chapman, John Crosthwaite ex-BRM as chassis engineer and Peter Slater as chief development engineer.[9][10][11][12] In 1975, the Pony, the first South Korean car, was released, with styling by Giorgio Giugiaro of ItalDesign and powertrain technology provided by Japan's Mitsubishi Motors. Exports began in the following year to Ecuador and soon thereafter to the Benelux countries. Hyundai entered the British market in 1982, selling 2993 cars in their first year there.[13]

So Hyundai began making cars in 1967. Within 13 years years they were exporting to the world. Now pleasse tell me one Pakistan rent seeker who over 70 years has gone abroad and made their mark? Yes, Hyundai's founder Chung Ju-Yung began as a rent seeker who used the South Korean state to stand up but within 13 years he had built Hyundai into a global brand that was in competition with Ford, Toyota, Nissan, Honda etc.

Please give me one rent seeke dash industrialist who over the last 70 years under multitude of governments, military and elected has gone abroad and made a mark?

1975. Yes 1975, Hyundai made their first car. Tell me in 2019 after 70 years has Pakistan managed to make it's own car? No.

Or forced to make...

One thing about PMIK unlike your castrated egg, Modi is the type to never get pushed around. I think his entire life is testament to that including 22 long years in political wilderness.