Shaukat Aziz

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Shaukat Aziz (born 6 March 1949) is a Pakistani economist and financier who served as the 17th Prime Minister of Pakistan from 20 August 2004 to November 15, 2007, as well as the Pakistani Finance Minister from 6 November 1999 to 15 November 2007.

He attended St Patrick's High School in Karachi during his youth.

In 1969, Aziz graduated from the Institute of Business Administration in Karachi and joined the CitiBank Pakistan's corporate staff.

He served in various countries' governments as a CitiBank economist and then became Citibank's executive vice president in 1999.

Aziz returned to Pakistan from the United States after accepting General Pervez Musharraf's personal request for the Finance Ministry as the country's finance minister while keeping control of the country's economy.

Aziz's macroeconomics programs oversaw political stability and economic growth in Pakistan, ultimately ending the "era of stagflation" in 2001.

Aziz, privatizing state-owned enterprises and strengthening the country's economic base, which resulted in the country's growth rate increasing by 6.4% per year, intensified privatisation and economic liberalization efforts, which led to the country's economic growth rate increasing by 6.4% per year.

In comparison to 11–12% in the 1990s, poverty and inflation dropped by 3.5 percent in the last three years.

All objectives and income collection targets were met in his tenure, for the first time in Pakistan's history, and allocation for growth has increased by around 40%.

In addition, the financial situation in Pakistan improved dramatically and reserves increased to US$10.5 billion on June 30, 2005, compared to US$1.2 billion in October 1999.

Aziz, the country's prime minister, oversaw the massive growth of military reforms and police reforms, as well as significant investment in the country that contributed to the country's industrial boom, energy megaprojects, the nuclear industry, and the port industry.

As his attempt to internationalize the country's image, Aziz's policy expanded the internet and telecommunication services, as well as liberalized the private media of Pakistan.

Education

Shaukat Aziz was born in Karachi, Pakistan's Sindh Province, on March 6, 1949. He attended Saint Patrick's School in Karachi and Abbottabad Public School in Abbottabad, Pakistan. S.A. Aziz (sometimes Abdul Aziz) was a radio engineer who worked in the state-owned Pakistan Broadcasting Corporation (PBC) as the chief engineer. S.A. Aziz's father was praised for his singular contributions to Radio Pakistan's establishment and as the initiator of the country's external services, and for this his father was honoured with state awards by Pakistan's government in the 1950s. S.A. Aziz was one of the pioneers who nurtured Radio Pakistan in its early days and mapped out a future roadmap for expansion, technological advancement, and expansion.

The PBC moved his family and attended the Abbottabad Public School, then later moved to Karachi. Aziz graduated from Saint Patrick's High School and later moved to Government College in Lahore, Punjab province, where he completed his inter-level and ascended to the Gordon College of Rawalpindi, Punjab province in 1965. Aziz graduated with a BS degree in Economics from Gordan College in 1967 and then moved to Karachi the following year to enroll in a master's program. Aziz completed his Master's degree in Karachi from the Institute of Business Administration (IBA), obtaining a bachelor's degree in business administration in 1969. Aziz started his internship at the IBA, and after his master's degree, he was invited to join Citibank's executive senior staff, headquartered in the United States.

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Career in Citigroup

Initially, Aziz joined the corporate branch of Citibank Pakistan as its credit officer in 1969. During his career, Aziz subsequently served in various countries including Pakistan, Greece, United States, United Kingdom, Malaysia, Philippines, Jordan, Saudi Arabia and Singapore.

After arriving to assume the charge of corporate assignment in the United States, Aziz settled in New York City and took over the office operations of Citibank at the Empire State Building. Aziz acquired permanent residence status, but did not acquire American citizenship, whilst continuing to upgrade his legal status.

In the U.S., Aziz held numerous positions in Citibank across several divisions including Corporate and Investment Banking (CIB), Corporate Planning Officer (CPO), Chief Financial Officer of Citicorp and managing director of Citibank Singapore. He has been a board member of Citibank subsidiaries, including Saudi American Bank, Citicorp Islamic Bank, and of several non-profit organizations. Aziz played a pivotal rôle in expanding Citibank branches and corporate directive operations throughout the country and was instrumental in bringing multinational banking industries into Pakistan in the 1990s.

At Citibank, Aziz served as the corporate director of Asia Pacific global finance operations and had been notable for financing and managing funds on behalf of Citibank and other financial corporations in global stock markets. He was also involved with Citi Private Bank, a subsidiary of Citigroup. Aziz regarded his career in Citigroup as "extremely helpful" in preparing him for the executive public office, in 2006.

Aziz continued to visit Pakistan, working to expand Citibank's financial services and banking, overseeing the wide expansion of Citigroup's branches and its influence in Pakistan. In the 1990s, he worked closely with the governments of Benazir Bhutto and Nawaz Sharif to help negotiate economic relief packages and aid to Pakistan, while maintaining diverse relations with Pakistan's Armed Forces who would also visit the United States as part of Sharif's and Benazir Bhutto's state visits.

By the 1990s, Aziz had established many notable contacts within the United States administration. In a book, Global Financial Warrior, written by John B. Taylor, Aziz had substantial access to the US Treasury, World Bank and many other world financial institutions. Aziz worked closely with the United States in order to finance U.S. war games and operations. Aziz knew the volumes of secretive methods of transferring funds in and out of South Asia, particularly clandestine financing of nuclear weapons programmes of India and Pakistan at its most, Taylor maintained.

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