Hafeez Sheikh wins Senate seat

[sparklingway]

Not a big news but Dr. Abdul Hafeez Sheikh won the Senate Election from Sind unopposed. He'll become the Minister of Finance formally in a couple of days now.

Associated Report:-

Hafeez Sheikh elected unopposed member Senate
Updated at: 1207 PST, Friday, May 21, 2010

KARACHI: Federal Advisor for Finance Abdul Hafeez Sheikh has been elected unopposed on senate seat on the ticket of Pakistan People's Party (PPP).Election Commission Sindh has issued a public notice of his success. Returning officer of provincial Election Commission Sono Khan Baloch said Dr. Sheikh has been elected unopposed under Senate Election Act 1975. A public notice has also issued in this connection, he added.

ELECTION COMMISSION OF PAKISTAN​

********
NOTIFICATION

Islamabad, the 21st May, 2010

No.F.9(1)/2009-Cord.- In pursuance of Section 18 of the Senate (Election) Act, 1975 (LI of 1975), read with proviso to Article 59 of the Constitution of the Islamic Republic of Pakistan and all other powers enabling him in that behalf, the Chief Election Commissioner of Pakistan hereby publishes the name of the candidate returned elected un-contested as a result of Bye-Election to the Senate of Pakistan against a Seat Reserved for Ulema and Technocrats from Sindh Province fallen vacant owing to the resignation of Mr. Shaukat Fayaz Ahmed Tarin, for the un-expired term of office, which is due to expire on the 11th March, 2012:

Mr. Abdul Hafeez Shaikh S/O Mr. Abdul Nabi Shaikh

R/o. Hakeem House, Shaikh Street, Family Line, Jacobabad.

By Order of the Chief Election Commissioner of Pakistan,

(Syed Sher Afgan)

Joint Secretary (Elections)

 

[Hyde]

so is that mean the seat for Minister of Finance is still empty after the resignation of Shoukat Tareen?

I know Hafeez Shaikh was appointed as an advisor but........

 

[AliFarooq]

a little biography on this person would be appreciated any one...

im guessing hes a corrupt, brought in to power by zardari

 

[sparklingway]

so is that mean the seat for Minister of Finance is still empty after the resignation of Shoukat Tareen?

I know Hafeez Shaikh was appointed as an advisor but........

Advisor with total Ministerial functions. Ministerial positions are for Parliamentarians with no more than one third Ministers being Senators.

 

[sparklingway]

a little biography on this person would be appreciated any one...

im guessing hes a corrupt, brought in to power by zardari

Just because you hate AZ doesn't mean that everybody chosen is the wrong man. Shed this immaturity.

PPP finally selects right man for country’s economy
Monday, March 22, 2010
By Tahir Hasan Khan

Karachi

The induction of Dr Hafeez Shaikh and Senator Raza Rabbani in the federal cabinet as advisers to the prime minister came as a good news not only for the people of Sindh but for the whole country. One is an expert in the field of economics and the other is a constitutional and legal expert. Dr Hafeez Shaikh has been inducted as the Adviser to the Prime Minister on Finance, while Senator Raza Rabbani’s portfolio was not yet announced. However, it is very much clear that he will be the adviser on legal and constitutional matters.

Raza Rabbani was initially appointed as a federal minister, but he had resigned after developing differences over judicial crisis. His return to the cabinet came as a good news for the Pakistan People’s Party workers.

The appointment of Dr Hafeez Shaikh also bears immense significance. He belongs to a political family and his father was a good friend of late Zulfikar Ali Bhutto, who had nominated him as the first PPP president in Jacobabad district.

Being a PhD in Financial Management, Dr Hafeez Shaik is known as a simple and honest person, who has served in various countries as a World Bank expert. His book “Argentine Privatization” is included in the syllabus of many international universities. When he was serving as a WB expert in Saudi Arabia, the royal family had offered him the position of the country’s finance minister.

When he was the finance minister in Sindh in early 2000s, he had told this scribe that his salary as a minister was less than the salary of his cook in New York. “But I decided to come back to Pakistan because my mother had told me that the country needed my expertise.” Former governor Sindh Muhammadmian Soomro, a cousin of Hafeez Sheikh, had requested Hafeez’s mother to ask him come back to Pakistan to serve the country.

Sindh was facing a financial crisis and its finances were being managed through overdraft at that time. Hafeez Shaikh not only steered the province out from default, Sindh also paid back Rs20 billion loans to banks and Rs10 billion overdraft to the State Bank, besides the budget of the province was made surplus. He reduced the number of taxes from 50 to three only.

Later, Gen Musharraf selected him for the federal cabinet and nominated him for a Senate seat. He was also appointed as the minister for privatization and investment. During his tenure, the country received record eight billion dollars investments. He brought billions of dollars in donation for poverty alleviation programmes from international donor agencies and banks. Besides, he also privatized a number of dead organizations but without compromising transparency in the privatization process. He entered into a dispute with the then prime minister Shaukat Aziz who tried to sell out Pakistan Steel on a throughway price to his favourites. He opposed the privatization of PS and advised the Sindh government to seek return of 300 acres land from the Pakistan Steel. Arbab Rahim was the Sindh chief minister at that time and he supported Shaukat Aziz. Finally, Hafeez Shaikh resigned from the cabinet.

He had introduced people-oriented policies through which he enlisted all the government organisations in stock exchange and involved the people in economic development.

After the failure of three finance ministers during two-and-a-half years, the PPP has finally selected the right man for running the economy of the country. The credit of bringing Dr Hafeez in the federal cabinet goes to President Asif Ali Zardari. The President had selected Tarin for this portfolio to serve the country and chose him for the Senate seat by ignoring senior party leaders. However, Tarin decided to give more time to his personal business.

Dr Hafeez Shaikh has again preferred to serve the nation rather than enjoying a luxurious and high-profile life in an international organisation. His salary is still less than his cook, but he has chosen to serve the country at a crucial time. The PPP will most probably elect him as a senator. Experts are very much hopeful that the economy of the country will improve after the induction of Dr Hafeez as finance minister. His good reputation will also help Pakistan secure softer loans and donations from world donor agencies and international monitory organisations.

However, Dr Hafeez would have to face a number of challenges. Shortage of finances, slow economic growth, the worst-ever power crisis and shortage of water have badly affected the economic activities in the country. Corruption is everywhere from top to bottom and incompetence is ruling every organisation.

EMAIL: khan.tahirhkhan@gmail.com

 

[AliFarooq]

Just because you hate AZ doesn't mean that everybody chosen is the wrong man. Shed this immaturity.

who said i hate him AZ, i love him because people learn from their mistakes, and i hope people of Pakistan don't make the same mistake again, but i think it will have no effect on the people. we can't seem to figure out wts good for us, and let thugs emotionally black mail us.

There are two sides, either hes appointed by zardari or appointed for his skills, thats y i asked for a biography, i should have worded my statement differently.

 

[T-Faz]

This is excellent news indeed, he is a very good man who knows how to tackle the problems faced by the government.

 

[Rafael]

Advisor with total Ministerial functions. Ministerial positions are for Parliamentarians with no more than one third Ministers being Senators.

Its not about his abilities or intentions, whether he will be given full authority or control over his ministry is what needs to be seen.

Even Shaukat Tareen was not a bad choice, but when he tried to bring agricultural sector into tax zone, he was immediately forced to leave.

 

[sparklingway]

Even Shaukat Tareen was not a bad choice, but when he tried to bring agricultural sector into tax zone, he was immediately forced to leave.

Tarin was a banker. Even with my best intentions I cannot work as a Mechanical Engineer b/c that's not what I've been educated to do.

People in Pakistan neither understand the complexities of a national economy nor wish to do so (as everything comes under a big wide band of "banks" for them and banks have "interest" - riba). For most people, even the "educated" ones outside the financial industry banking, economics, accounting and auditing are somehow the same thing.

We've used bankers most of the times. Bankers can't handle economies. We need economists. Hafeez Sheikh is an economist.

 

[xenia]

As far as i know he is a very good reseacher of eonomics...almost in all acredited research teams...but what worries me is we dint have a very good experience with sartaj aziz--an economist n researcher
but lets hope he comes with good tidings for economy!

 

[sparklingway]

As far as i know he is a very good reseacher of eonomics...almost in all acredited research teams...but what worries me is we dint have a very good experience with sartaj aziz--an economist n researcher

Sartaj Aziz was less of an academic and more of an applied public administration economist.His stints at FAO and IFAD were highly successful. If you read his book, "Between dreams and realities" then you'll get a better idea of his work.

His second stint as MoF was marred by increasing external debt, increasing trade imbalance and enormous sanctions while readjusting the agricultural economy. And that stint lasted only about an year and he was made the Minister of Foreign Affairs then.

His earlier stint most definitely did not bring any great results and he writes about mistakes in his book in detail.

 

[xenia]

Sartaj Aziz was less of an academic and more of an applied public administration economist.His stints at FAO and IFAD were highly successful. If you read his book, "Between dreams and realities" then you'll get a better idea of his work.

His second stint as MoF was marred by increasing external debt, increasing trade imbalance and enormous sanctions while readjusting the agricultural economy. And that stint lasted only about an year and he was made the Minister of Foreign Affairs then.

His earlier stint most definitely did not bring any great results and he writes about mistakes in his book in detail.

thanks i ll read the book but right now hez heading IPP magazine (i ve read that) n also a member of Mahboobul Haq centres research team n if i m not wrong hafiz pasha is also a member...
lets hope hafiz sails our boat well.

 

[sparklingway]

He's the VC of BNU as well.

 

[xenia]

He's the VC of BNU as well.

not VC..heads the economics deptt...thats what i know.

 

[sparklingway]

Check the website.