For other people with the same name, see Shaukat Aziz (disambiguation).
Shaukat Aziz
شوکت عزیز
Aziz in 2020
17th Prime Minister of Pakistan
In office 28 August 2004 – 15 November 2007
President
Pervez Musharraf
Preceded by
Chaudhry Shujaat Hussain
Succeeded by
Yousaf Raza Gillani
Minister of Finance
In office 12 October 1999 – 15 November 2007
Prime Minister
Zafarullah Khan Jamali Chaudhry Shujaat Hussain Himself
Preceded by
Ishaq Dar
Succeeded by
Salman Shah
Personal details
Born
Shaukat Abdul Aziz
(1949-03-06) 6 March 1949 (age 75) Karachi, Federal Capital Territory, Pakistan
Nationality
Pakistani British American (Permanent Resident)
Political party
Pakistan Muslim League (Q) (2002–2007)
Spouse
Rukhsana Aziz
Alma mater
Gordon College IBA
Shaukat Aziz (Urdu: شوکت عزیز; born 6 March 1949) is a Pakistani former banker and financier[1] who served as 17th prime minister of Pakistan from 28 August 2004 to 15 November 2007, as well as the finance minister of Pakistan from 6 November 1999 to 15 November 2007.[2] He studied at St Patrick's High School, Karachi. Aziz graduated from the Institute of Business Administration in Karachi, and joined the corporate staff of the CitiBank Pakistan in 1969. He served in various countries' governments as CitiBank financier, and became executive vice-president of Citibank in 1999.[2] After accepting a personal request by General Pervez Musharraf, Aziz returned to Pakistan from the United States to assume charge of the Finance Ministry as the finance minister while taking control of the country's economy. In 2004, Aziz was nominated by the Musharraf loyalist government, led by Pakistan Muslim League (Q), for the position of prime minister after the resignation of Zafarullah Khan Jamali on 6 June 2004.[2][3]
Aziz's macroeconomics policies[2] oversaw political stability and economic progress in Pakistan, subsequently ending the "era of stagflation" in 2001.[4] Intensified privatisation and economic liberalisation programmes were personally initiated by Aziz, privatising state-owned corporations and strengthening the country's economic base, which led to the improvement of the country's growth rate by 6.4% per year. Poverty and inflation rates dropped to 3.5%[4] in the later 3 years, compared to 11–12% in the 1990s.[4] For the first time in Pakistan's history, all goals and revenue collection targets were met in his tenure, and allocation for development increased by about 40%.[4] Moreover, despite a series of internal and external distresses, the economic situation of Pakistan improved significantly and reserves increased to US$10.5 billion on 30 June 2004, compared to US$1.2 billion in October 1999. As prime minister, Aziz oversaw the large-scale expansion of military reforms, police reforms, and significant investment in the country that led to the boom of the automotive industry, energy megaprojects, nuclear industry,[5] and the port industry. This presided over unprecedented GDP growth. Aziz's policy expanded the internet and telecommunication services, and liberalised the private media of Pakistan as his vision to internationalise the image of the country.[4]
^Cite error: The named reference W.W. Norton and Company Ltd. was invoked but never defined (see the help page).
^ abcd"Shaukat Aziz Becomes Prime Minister". Story of Pakistan. 8 October 2004. Archived from the original on 29 June 2012. Retrieved 22 May 2012.
^"FORMER PRIME MINISTERS". pmo.gov.pk. Archived from the original on 12 June 2018. Retrieved 9 June 2018.
^ abcdeStory of Pakistan (2008). "Shaukat Aziz's Prime ministerial". Story of Pakistan. Archived from the original on 8 June 2012. Retrieved 22 May 2012.
^"South Asia | Pakistan building nuclear plant". BBC News. 28 December 2005. Archived from the original on 19 August 2008. Retrieved 6 June 2010.
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