Abdul Hafeez Shaikh
Encyclopedia
Abdul Hafeez Shaikh is a Pakistani economist
and a politician from Sindh
province, Pakistan
. Dr. Shaikh is the current Finance Minister
in the Cabinet of Pakistan
. Dr. Shaikh was elected as a Member of the Senate from the Pakistan Peoples Party
platform.
in Upper Sindh. He was graduated from Boston University
with Undergraduate
and Postgraduate
Degrees in Economics
. Later, he was awarded a D.Phil.
in Economics from the same institution, and has authored many publications including a book on Argentina
’s privatisation initiatives. He worked at Harvard University
in Cambridge, Massachusetts.
He served in the 1990s as country head of the World Bank
's operations in Saudi Arabia
and was senior official advising 21 countries in Asia, Africa, Europe and Latin America. He was Minister for Finance, Planning and Development, Sindh province, 2000-2002. He served as Privatization Minister in former president Pervez Musharraf
's military-led government for three years.
Hafeez Shaikh has been a partner at New Silk Route
, an international private equity firm. Current NSR partners include Parag Saxena
(General Partner and CEO), Rajat Gupta
(General Partner and Chairman), and Victor Menezes
(senior advisor; retired from Citigroup
). The fund made an investment in Nectar Lifesciences
in 2010.
As Finance Minister in early 2011, Shaikh met with U.S. Senator John Kerry
when Kerry visited Pakistan. Shaikh briefed Kerry, who is Chair of the United States Senate Committee on Foreign Relations
, on economic developments, delays in getting aid through the Kerry-Lugar Bill (2009) and continued needs for flood rehabilitation
. While in Washington
for the International Monetary Fund
/World Bank
spring meetings later that year, Shaikh delivered a similar message about Kerry-Lugar-Berman funding while also addressing prospective investments in the energy sector, possibly by the U.S., the government's general economic program and, specifically, Parliament
's role therein, and, finally, inconclusive negotiations on two IMF installments totaling $3.3 billion. One venue for Shaikh's comments was an event at the Woodrow Wilson Center
.
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
and a politician from Sindh
Sindh
Sindh historically referred to as Ba'ab-ul-Islam , is one of the four provinces of Pakistan and historically is home to the Sindhi people. It is also locally known as the "Mehran". Though Muslims form the largest religious group in Sindh, a good number of Christians, Zoroastrians and Hindus can...
province, Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
. Dr. Shaikh is the current Finance Minister
Finance Minister of Pakistan
The Finance Minister of Pakistan heads the Ministry of Finance and serves in the Prime Minister's cabinet. The Minister is required to be a member of the Parliament.The current finance minister is Abdul Hafeez Shaikh...
in the Cabinet of Pakistan
Cabinet of Pakistan
The Cabinet of Pakistan is headed by Prime Minister and plays an important role in the Government of Pakistan, in accordance with the Westminster System....
. Dr. Shaikh was elected as a Member of the Senate from the Pakistan Peoples Party
Pakistan Peoples Party
The Pakistan Peoples Party , is a democratic socialist political party in Pakistan affiliated with Socialist International. Pakistan People's Party is the largest political party of Pakistan...
platform.
Education & career
Shaikh was born in the city of JacobabadJacobabad
Jacobabad or Yaqubabad is the capital city of Jacobabad District, Sindh, Pakistan. The city is also the administrative centre of Jacobabad Taluka, an administrative subdivision of the district, the city is subdivided into 8 Union Councils...
in Upper Sindh. He was graduated from Boston University
Boston University
Boston University is a private research university located in Boston, Massachusetts. With more than 4,000 faculty members and more than 31,000 students, Boston University is one of the largest private universities in the United States and one of Boston's largest employers...
with Undergraduate
Undergraduate education
Undergraduate education is an education level taken prior to gaining a first degree . Hence, in many subjects in many educational systems, undergraduate education is post-secondary education up to the level of a bachelor's degree, such as in the United States, where a university entry level is...
and Postgraduate
Postgraduate education
Postgraduate education involves learning and studying for degrees or other qualifications for which a first or Bachelor's degree generally is required, and is normally considered to be part of higher education...
Degrees in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
. Later, he was awarded a D.Phil.
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
in Economics from the same institution, and has authored many publications including a book on Argentina
Argentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
’s privatisation initiatives. He worked at Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
in Cambridge, Massachusetts.
He served in the 1990s as country head of the World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
's operations in Saudi Arabia
Saudi Arabia
The Kingdom of Saudi Arabia , commonly known in British English as Saudi Arabia and in Arabic as as-Sa‘ūdiyyah , is the largest state in Western Asia by land area, constituting the bulk of the Arabian Peninsula, and the second-largest in the Arab World...
and was senior official advising 21 countries in Asia, Africa, Europe and Latin America. He was Minister for Finance, Planning and Development, Sindh province, 2000-2002. He served as Privatization Minister in former president Pervez Musharraf
Pervez Musharraf
Pervez Musharraf , is a retired four-star general who served as the 13th Chief of Army Staff and tenth President of Pakistan as well as tenth Chairman of the Joint Chiefs of Staff Committee. Musharraf headed and led an administrative military government from October 1999 till August 2007. He ruled...
's military-led government for three years.
Hafeez Shaikh has been a partner at New Silk Route
New Silk Route
- History and leadership :NSR was initially named Taj Capital. Its founding team included, at various points:* Rajat Gupta, former managing partner at McKinsey & Company* Parag Saxena, former managing partner of Invesco Capital and Vedanta Capital...
, an international private equity firm. Current NSR partners include Parag Saxena
Parag Saxena
Parag Saxena is the Founding General Partner and CEO of New Silk Route. Other NSR partners include Rajat Gupta, Victor Menezes and formerly Hafeez Shaikh-Education:...
(General Partner and CEO), Rajat Gupta
Rajat Gupta
Rajat Kumar Gupta was the managing director of management consultancy McKinsey & Company from 1994 to 2003 and a business leader in India and the United States...
(General Partner and Chairman), and Victor Menezes
Victor Menezes
Victor J. Menezes is an engineer and banker, who acts as a top official in international financial organizations.-Early life:...
(senior advisor; retired from Citigroup
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
). The fund made an investment in Nectar Lifesciences
Nectar Lifesciences
Nectar Lifesciences Limited is an integrated pharmaceutical company in India that manufactures high quality generic products for EU and USA. The company is the largest manufacturer of Cefuroxime Axetil API and Cefixime API in the world and manufactures 25% of menthol of the world.-History:The...
in 2010.
As Finance Minister in early 2011, Shaikh met with U.S. Senator John Kerry
John Kerry
John Forbes Kerry is the senior United States Senator from Massachusetts, the 10th most senior U.S. Senator and chairman of the Senate Foreign Relations Committee. He was the presidential nominee of the Democratic Party in the 2004 presidential election, but lost to former President George W...
when Kerry visited Pakistan. Shaikh briefed Kerry, who is Chair of the United States Senate Committee on Foreign Relations
United States Senate Committee on Foreign Relations
The United States Senate Committee on Foreign Relations is a standing committee of the United States Senate. It is charged with leading foreign-policy legislation and debate in the Senate. The Foreign Relations Committee is generally responsible for overseeing and funding foreign aid programs as...
, on economic developments, delays in getting aid through the Kerry-Lugar Bill (2009) and continued needs for flood rehabilitation
2010 Pakistan floods
The 2010 Pakistan floods began in late July 2010, resulting from heavy monsoon rains in the Khyber Pakhtunkhwa, Sindh, Punjab and Balochistan regions of Pakistan and affected the Indus River basin. Approximately one-fifth of Pakistan's total land area was underwater, approximately...
. While in Washington
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
for the International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
/World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
spring meetings later that year, Shaikh delivered a similar message about Kerry-Lugar-Berman funding while also addressing prospective investments in the energy sector, possibly by the U.S., the government's general economic program and, specifically, Parliament
Parliament
A parliament is a legislature, especially in those countries whose system of government is based on the Westminster system modeled after that of the United Kingdom. The name is derived from the French , the action of parler : a parlement is a discussion. The term came to mean a meeting at which...
's role therein, and, finally, inconclusive negotiations on two IMF installments totaling $3.3 billion. One venue for Shaikh's comments was an event at the Woodrow Wilson Center
Woodrow Wilson International Center for Scholars
The Woodrow Wilson International Center for Scholars , located in Washington, D.C., is a United States Presidential Memorial that was established as part of the Smithsonian Institution by an act of Congress in 1968...
.