 |
Shaukat AzizPakistani statesman
Date of Birth: 06.03.1949
Country:  Pakistan |
Content:
Early Life and Education
Shaukat Aziz was born on March 6, 1949, in Karachi, Pakistan. He received his early education in his hometown before graduating from college in Rawalpindi in 1967.
Banking Career
Aziz began his career as a banker in Karachi in 1969. He rose through the ranks, eventually becoming President of Citibank. He spent 30 years working in global finance, gaining experience in Greece, the United States, the United Kingdom, Malaysia, and Singapore.
Finance Minister
In November 1999, Aziz was appointed Finance Minister of Pakistan following a military coup d'état. As Finance Minister, he oversaw a significant boost in the country's economy. His responsibilities were expanded to include finance, economics, statistics, planning, development, and revenue. He also chaired the Economic Coordination Committee of the Cabinet, the Executive Committee of the National Economic Council, and the government's Privatization Committee.
Criticisms and Achievements
Aziz faced criticism for his privatization policies, but he defended them as necessary to improve the country's economic climate. He was also accused of neglecting the poor, but during his tenure as Finance Minister, the economy grew by an average of 6.4% per year. Revenue collection increased by approximately 40%, aided by billions of dollars in loans and aid from the United States as Pakistan joined the war on terror. Despite a number of internal and external challenges, Pakistan's foreign reserves increased to $10.560 billion as of June 30, 2004. The exchange rate became stable and predictable, and inflation fell to 3.5%.
Prime Minister
Aziz played a key role in developing the port of Gwadar, which became one of the country's major ports. After Zaferullah Khan Jamali resigned as Prime Minister, Aziz was nominated to the post by the ruling party. He is married and has three children.
