Dr Abdul Hafiz Sheikh has been appointed as advisor to PM on finance

[crankthatskunk]

If he is selected, he would be million time better than Asad.

Asad's biggest problem was giving momentum to the economy.
He got bogged down with the Balance of Payment and current account deficit problems, which were important but not everything. There were other parts of the economy which were ignored, including stimulus, better grip on FBR collection of taxes, reducing the growing variance from the budgeted receipts for the fiscal year.
Asad was incapable of steering all cogs of the economy together and in the same direction.
He had to go.

 

[IbnAbdullah]

Salaam


According to Dr shahid masood during PPP temure when the economic situation started getting out of hand Dr Hafiz Shiekh was brought in because of the army chief kiani at that time.


So my guess is that Hafiz sheikh has been brought on board again with the support of the military establishment.


...

 

[alee92nawaz]

View attachment 554119
Currently on Ary news

https://twitter.com/x/status/1118921076782829570

Who is Dr Hafeez Sheikh?

Dr. Abdul Hafeez Shaikh (Urdu: عبدالحفیظ شیخ‎) is a Pakistani political economist of international repute with over 30 years of experience in economic policy-making, management and implementation. He served as the 20th Finance Minister of Pakistan from 2010 to 2013.
haikh was educated and earned doctorate from the Boston University in the United States, and has authored many publications including a book on Argentina. He also served as a professor at the Harvard University. Dr. Shaikh associated his services with the World Bank, and served as the director of economics operations of World Bank in Saudi Arabia throughout the 1990s. His other international experience includes assignments in Saudi Arabia, Sri Lanka, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Romania, Czech Republic, Iran, Kuwait, Argentina, Bangladesh, Jordan, Qatar, Malta, Botswana, Tanzania, Ghana and Libya.

Dr. Hafeez Shaikh had a highly successful tenure as Minister for Finance, Planning & Development in provisional government of Sindh Province during 2000–2002.

Following that, his three years as the Federal Minister for Privatization & Investment were the most successful in Pakistan's history. 34 transactions worth over US $5 billion were completed in a transparent fashion. Using the slogan of "Privatization for the People", shares in several companies were given to 0.8 million people, creating broad ownership. The period saw foreign direct Investment increase from $1 Billion to $5 Billion. Dr. Shaikh was awarded Pakistan's "Man of the Year" in 2004 by the business community in recognition of his contributions to the country. He left the Government in early 2006.

In 2010, he was appointed as finance adviser of the Government of Pakistan and was later appointed as the chief of the Finance Ministry after securing his mandate from Jacobabad constituency. Since then, he has been directing the economic and financial institutions of the country.

In 2012, he became an active member of Pakistan Peoples Party and successfully contested in the 2012 senate elections. He was a highly regarded member of the Senate of Pakistan and was Chairman of the Senate's Committee on World Trade Organization.

After leaving the Government, Dr. Shaikh was General Partner of an international investment company, headquartered in New York, which set up a $1.38 Billion fund for investments in Asia.[1]

Zardari ese he badnam hoa

 

[maithil]

So a PPP finance minister and a PPP Information minister to tell about the steps he is taking. Some Tabdeeli indeed.

So apt '

https://twitter.com/x/status/897450977137012737

 

[maximuswarrior]

This is good. Keep removing people who don’t deliver. Tough decisions have to be taken and time is a limiting factor. If the new finance minister doesn’t deliver I am all for the next candidate.

What the new finance minister has to do is stop advocating more loans from IMF and focus on investment, curbing imports and improving tax collection. Unless these corrections aren’t made it will be the same old wine in a new bottle.

 

[Pakistani Aircraft]

So the new guy served President Asif Ali Zardari as Finance Minister (2020-2013). What a choice by PM Imran Khan.

 

[H!TchHiker]

welcome

 

[Pakistani E]

Was he cleaned by PTI's express washing machine that cleans members of former corrupt government officials as saaf paak if they are needed/join PTI?

 

[maximuswarrior]

So the new guy served President Asif Ali Zardari as Finance Minister (2020-2013). What a choice by PM Imran Khan.

If he doesn’t deliver he is out. If Asad Umar wasn’t spared no one will be.

This isn’t Nawazoo government that allowed Ishaq Dar to pillage and loot.

 

[Vännen]

I have a theory, it can be wrong but i guess Asad Umer wasn't removed. It seems like IK wanted to bring Hafeez shiekh as advisor and Asad umer didnt want to have a tried and tested PPP FM. He himself used to say i will quit if there is anything to do with PPP. Asad umer is not half as bad as these past crooks.

 

[Men in Green]

Old faces, imran khan has failed to bring new faces.

 

[Pakistani Aircraft]

If he doesn’t deliver he is out. If Asad Umar wasn’t spared no one will be.

This isn’t Nawazoo government that allowed Ishaq Dar to pillage and loot.

Okay. So what punishment has Assad Umar received for destroying Pakistani economy for the last eight-months?

Some of Assad Umar's achievements while he was Pakistan Tehrik-e-Baqwas Finance Minister for only eight-months:
• Nominal GDP contracted by $35 billion.
• GDP Growth Rate down to 2.7% from 5%.
• $22 billion of additional external debt negotiated
• Stock Market in freefall.
• Rupee devalued more in eight-short-months than combined previous two Governments.

After the PM spent 22-years ranting against PML and PPP and offering alternatives, how could he get it so miserably wrong?

 

[maximuswarrior]

Okay. So what punishment has Assad Umar received for destroying Pakistani economy for the last eight-months?

Some of Assad Umar's achievements while he was Pakistan Tehrik-e-Baqwas Finance Minister for only eight-months:
• Nominal GDP contracted by $35 billion.
• GDP Growth Rate down to 2.7% from 5%.
• $22 billion of additional external debt negotiated
• Stock Market in freefall.
• Rupee devalued more in eight-short-months than combined previous two Governments.

After the PM spent 22-years ranting against PML and PPP and offering alternatives, how could he get it so miserably wrong?

You should ask the same question about Ishaq Dar. What punishment did he get for destroying Pak economy for years? He is living peacefully in London whilst his leader is getting shanked every hour in prison.

Asad Umar inherited shit. Asad Umar couldn’t deliver as expected and a new vision is needed. If the new finance minister doesn’t deliver as expected we will look for another ones. We will keep changing as long as necessary.

 

[Pakistani Fighter]

You should ask the same question about Ishaq Dar. What punishment did he get for destroying Pak economy for years? He is living peacefully in London whilst his leader is getting shanked every hour in prison.

Asad Umar inherited shit. Asad Umar couldn’t deliver as expected and a new vision is needed. If the new finance minister doesn’t deliver as expected we will look for another ones. We will keep changing as long as necessary.

Is Pervez Khattak and Shireen Mazari doing Good?

 

[Hareeb]

GDP Growth Rate down to 2.7% from 5%.

Previously, your economy was consumer driven and debt oriented, and in result, your debt as well as trade deficit was increasing at a fast pace which was a threat to national security. Thus to stop trade deficit and to manage balance of payments, you had to curb imports which resulted in slow down of economic indicators. To overcome this situation and to turn consumer based economy to export oriented economy, finance bill was introduced in January 2019 which included incentives for industrialists and manufacturers. Due to these incentives, exports have started to increase (SBP figures) but you have to learn that the economy is a long term subject and reforms take years to give better results.

Stock Market in freefall.

Its a bubble which can burst anytime even when investors start taking profits.

Rupee devalued more in eight-short-months than combined previous two Governments.

Equilibrium of currency exchange rate is a positive indicator. I don't now why people think depreciation of currency is bad. It can help you increase your exports by making your products competitive in international markets.

GDP Growth Rate down to 2.7% from 5%.

Ishaq Dar used to fudge the economic figures. Dr. Hafeez Pasha wrote about it in detail in his book. GDP growth was never more than 4.5%

• $22 billion of additional external debt negotiated

It's necessary. You have to pay $39 billion in 5 years while you have a huge trade deficit. It's the matter of national security.

Was he cleaned by PTI's express washing machine that cleans members of former corrupt government officials as saaf paak if they are needed/join PTI?

So the new guy served President Asif Ali Zardari as Finance Minister (2020-2013). What a choice by PM Imran Khan.

Dr. Hafeez was never corrupt. He worked with Musharaf as well.