Ishrat Husain facts for kids
Quick facts for kids
Ishrat Hussain
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| Advisor to the Prime Minister for Institutional Reforms & Austerity | |
| In office 27 August 2018 – 11 April 2022 |
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| President | Arif Alvi Mamnoon Hussain |
| Prime Minister | Imran Khan |
| 13th Governor of the State Bank of Pakistan | |
| In office 2 December 1999 – 1 December 2005 |
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| Prime Minister | Zafarullah Khan Jamali Shaukat Aziz |
| Preceded by | Muhammad Yaqub |
| Succeeded by | Shamshad Akhtar |
| Dean of IBA Karachi | |
| In office 2008–2016 |
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| Governor | Ishrat-ul-Ibad Khan |
| Succeeded by | Farrukh Iqbal |
| Personal details | |
| Born | 17 June 1941 Allahabad, British India |
| Nationality | Pakistan |
| Alma mater | University of Sindh Williams College Boston University |
Ishrat Husain is a well-known Pakistani civil servant. He has held important jobs, like being the head of Pakistan's main bank, the State Bank of Pakistan, from 1999 to 2006. He also led a famous business school, the Institute of Business Administration (IBA), from 2008 to 2016. More recently, he advised the Prime Minister on making government better and saving money from 2018 to 2022.
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Early Life and Education
Ishrat Husain was born in 1941 in Agra, which was part of British India at the time. In 1947, his family moved from Agra to Karachi because of the partition of British India, which created Pakistan.
He finished his early schooling in Karachi. Later, he studied at the Government College Hyderabad. He earned degrees in zoology and chemistry. He continued his chemistry studies at the University of Sindh. While there, he took part in student protests against a government plan called the One Unit Scheme.
Husain became very interested in development economics. This field looks at how countries can grow their economies and improve people's lives. He got a scholarship to study at Williams College in the United States. In 1972, he earned his Master's degree in development economics from Williams College. He then completed his PhD from Boston University in 1978.
Career Highlights
After passing a special exam, Ishrat Husain joined the Civil Services Academy in Lahore. He graduated in 1964. His first jobs were in different parts of Sindh and in Chittagong, which was then East Pakistan. During this time, he saw big political changes, including protests in 1969 and the creation of Bangladesh in 1971. He even worked on a committee to undo the One Unit policy, which he had protested against as a student.
Working for Pakistan's Government
After his studies at Williams College, Ishrat Husain returned to Pakistan in 1972. He became the Deputy Secretary of the Finance Division. Within a year, he was promoted to Additional Secretary. After getting his PhD in 1978, he joined the World Bank. He wanted to be more involved in global economic discussions. His first role at the World Bank was as an economist for Liberia.
Time at the World Bank
By 1982, Husain left the Pakistani civil service to focus on his career at the World Bank. He held many important positions there. He was the World Bank Representative to Nigeria and later the Chief Economist for Africa. He also became the Director for Poverty and Social Policy. He worked in Central Asian countries, which helped him understand different economic systems.
One of his notable assignments was in Ghana during a time of political challenges. Husain used his experiences from Pakistan to help guide Ghana's economic plans. In 1994, he became the chief economist for the Asia–Pacific region. From 1997 to 1999, he led the World Bank's work in Central Asia.
Leading the State Bank and IBA
Ishrat Husain finished his career at the World Bank in 1999. Soon after, he was appointed the Governor of the State Bank of Pakistan. He held this important position until December 2005.
In 2008, he became the Dean of the IBA Karachi. Under his leadership, IBA grew from just a business school into a university that teaches many different subjects. In 2015, he received the Nishan-e-Imtiaz, a high honor from the President Mamnoon. He stepped down as dean in 2016 but remains a Professor Emeritus at the institute. In 2016, Husain also joined the Woodrow Wilson International Center for Scholars as a policy fellow.
Awards and Achievements
- Jinnah Award (2005) for his excellent work as Governor of the State Bank of Pakistan.
