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Dr. ISHRAT
HUSAIN
Ex
Dean and Director
Institute of Business Administration (IBA)
Karachi
Dr. Ishrat Husain is currently Advisor to
the Prime Minister on Institutional Reforms and Austerity with the
status of Federal Minister. During
2016-17 he was Public Policy Fellow at the Woodrow Wilson Center in
Washington DC. During this tenure he produced his latest book
“Governing the ungovernable’” which was published by Oxford
University Press. He is HEC National Distinguished Professor,
Professor Emeritus and Chairman Centre for Excellence in Islamic
Finance at the Institute of Business Administration, (IBA) Karachi.
He had earlier served as Dean and Director IBA - the oldest graduate
business school in Pakistan (established in 1955) between 2008 and
2016. During his term of office he was actively engaged in the
transformation of the Institute to become one of the leading Global
Business schools. He served as the Chairman, National Commission for
Government Reforms for two years from 2006 to 2008 with the status
of Federal Minister reporting directly to the President and Prime
Minister of Pakistan. The Commission produced a two volume report on
governance reforms in Pakistan. He was appointed the Governor of
Pakistan’s Central Bank in December 1999. During the next six years,
he implemented a major program of restructuring of the Central Bank
and steered the reforms of the banking sector. As a member of the
economic management team of the Government, he played a key role in
the impressive economic turnaround of Pakistan. In recognition of
his meritorious services he was conferred the prestigious award of
“Hilal-e-Imtiaz” by the President of Pakistan in 2003. The Banker
Magazine of London declared him as the Central Bank Governor of the
year for Asia in 2005. He received the Asian Banker Lifetime
achievement award in 2006. The President of Pakistan conferred upon
him the highest civilian award of Nishan e Imtiaz in 2016 for his
outstanding public service.
Dr. Husain had a distinguished career at the World Bank for over two
decades 1979-1999. Among the key positions he held at the Bank were
Resident Representative to Nigeria, head of the Bank’s Debt and
International Finance Division, Chief Economist for Africa between
1991-94 and later as Chief Economist for East Asia and Pacific
Region that included China. He became the Bank’s Director Poverty
and Social Department and in 1997 he was named the Country Director
for Central Asian Republics.
Since his retirement as the Governor he has been actively involved
in many national and international assignments. During 2005-06 he
was appointed by the Board of IMF as a member of a three person
panel to evaluate the IEO. He was a member of the Mahathir
Commission 2020 vision for the Islamic Development Bank (IDB). He
also advised the IDB for creating its poverty reduction fund. He was
appointed by the Board of Asian Development Bank to a two member
independent panel to restructure the Accountability Mechanism. He
also served on the Middle East Advisory Group of the IMF, Regional
Advisory Group of UNDP, the President Advisory Council of IDB and
was Chairman World Economic Forum Global Advisory Council on
Pakistan until June 2014.
During 2009-10 he was appointed by the Government of Pakistan to
chair the Pay and Pension Commission. Between 2011-14 he served as
an independent Director on the Board of Benazir Income Support
Programme (BISP)-- the largest Social safety net and conditional
cash transfer program targeted at the poor households of Pakistan.
He was reappointed to the Board of BISP in 2017. He served as
Convener, Economic Advisory Council, Ministry of Finance until 2017
and Member, Advisory Council to the Minister of Planning,
Development and Reforms. He was also one of the two non official
members of the Monetary and Fiscal Coordination Board headed by the
Minister of Finance until August 2018.
Mr. Husain has maintained an active scholarly interest in
development issues. He has authored two dozen books and monographs
and contributed more than 40 articles in refereed journals and 34
chapters in books. His book “Pakistan: The Economy of the Elitist
State” published by Oxford University Press is widely read in
Pakistan and outside. His latest research and writings are focused
on CPEC and his book “CPEC and Pakistani economy” has been published
by the Centre for Excellence on CPEC in May 2018. He is regularly
invited as a speaker to international conferences and seminars and
has attended more than 150 such events all over the world since
2006. He has chaired or served on the Boards of several research
institutes, philanthropic and cultural organizations.
Ishrat Husain obtained Master’s degree in Development Economics from
Williams College and Doctorate in Economics from Boston University
in 1978. He is a graduate of Executive Development program jointly
sponsored by Harvard, Stanford and INSEAD
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