Why Pakistani Finance Minister is Going to Resign?
Tuesday, February 23, 2010
Tarin was appointed the prime minister's top adviser on economic affairs in October 2008 and later sworn in as finance minister. In March 2008, a consortium comprising the International Finance Corporation, Bank Muscat, Nomura and Sinthos Capital, led by Tarin and another Pakistani banker, Sadeq Saeed, bought an 86.55 percent stake in Silk Bank for about $213 million.
"New investors in his Silk Bank had set preconditions that they will invest billions in the bank provided a seasoned banker like Tarin pays full-time attention,".
Tarin's resignation is not expected to destabilise the government but international donors will be keen to see a respected minister appointed in his place.Tarin had suggested three candidates to replace him as following.
- Former cental bank governor Ishrat Husain,
- Senior economist Hafiz Pasha and
- Chief executive of Arif Habib Investment Ltd, Nasim Beg.
Labels: Pakistan, Shaukat Tarin
posted @ 12:59 PM,
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Nine Point Plant - Shaukat Tarin
Wednesday, February 3, 2010
Cognizant of the limitations of the growth strategy followed in the past, which has invariably produced boom-bust cycles, and has invariably been followed at various intervals by a balance of payments crisis, the present government is embarking on a fundamental change of the development paradigm.
The new growth strategy is embodied in the government's "Nine-Point" plan, which seeks to foster sustainable and more equitable growth by means of structural improvements in the productive sectors of Pakistan's economy. The nine areas that have been identified for serious and sustained policy intervention include:
1) Macroeconomic stabilisation2) Social Protection
3) Agriculture
4) Energy
5) Improving industrial competitiveness
6) Infrastructure development through innovative use of Public-Private Partnership (PPP) models
7) Increasing the depth of Capital Markets
8) Human Capital
9) Administrative and Governance reform
While we have embarked on our journey of fundamental reform in the economy in extremely challenging circumstances - with the largest deployment of our armed forces in active combat within Pakistan's borders since 2008; the largest populations of internally displaced people (IDPs) in the world; and the severest economic conditions of the global economy since the Great Depression of the 1930s - we have already met some initial successes.
Labels: Nine Point Plan, Pakistan Economy, Shaukat Tarin
posted @ 10:47 AM,
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