Profile: Abdul Hafeez Shaikh

05:33 PM | 10 Aug, 2023
Profile: Abdul Hafeez Shaikh

Dr Abdul Hafeez Shaikh is one of the leading economists, policymaker, master of foreign investment and politician of Pakistan. Nationally and internationally acknowledged, he maintains a unique repute and recognition as a financial manager and expert.

Early life and education

Abdul Hafeez Shaikh was born in Jacobabad, Sindh. He possesses Masters and Doctorate degree in Economics from the Boston University.

Honorable Faculty of Harvard University

After his higher education, Abdul Hafeez Shaikh joined the faculty of Harvard University in Cambridge, Massachusetts, where he led a research project for his doctoral students. During Harvard University work experience, he also advised several countries on their economic policies and programs. He served the learners around the globe as one of the best brains on economics and management.

Political Journey of Abdul Hafeez Shaikh

For almost four decades, Abdul Hafeez Shaikh has proved his mettle in economics and management. It is also believed that Abdul Hafeez Shaikh has been very close to the powerful corridors of the country. He remained as one of the best choices in military regime and democratic era both for the establishment and the political elites of Pakistan. His political journey sprawls around provincial assembly, National Assembly and Senate as leading legislative institutes of the country. Apart from these responsibilities, he imprinted his name as politician in country’s political arena.

At provincial level, he was made the Provincial Minister of Sindh for Finance and Planning in the military government in 2000. Later, he was elected to the Senate of Pakistan as a candidate of Pakistan Muslim League (Q) from Sindh in March 2003. In fact, he remained as Senate member from 2003 to 2006.

At federal level, Abdul Hafeez Shaikh was made the Federal Minister for Privatization during  Musharraf government in 2003. He was again elected to the Senate as a candidate of Pakistan Peoples Party (PPP) from Sindh in March 2006. He had been member of the Senate from 2006 to 2012. In March 2010, he was made the finance minister in PPP’s Prime Minister Syed Youaf Raza Gilani’a tenure. 

Repeating the past’s replica, Abdul Hafeez Shaikh was again elected to the Senate as a candidate of PPP from Sindh in 2012. He had been member of the Senate from 2012 to 2016. In February 2013, he resigned as the finance minister. In April 2019, he was appointed as Advisor to Prime Minister of Pakistan after a cabinet reshuffle by then prime minister Imran Khan.

On December 11, 2020, he was appointed as Federal Minister of Finance and Revenue. Later, he was removed from his office on March 29, 2021.

During 2021 Senate elections, Abdul Hafeez Shaikh got 164 votes and lost to his rival Syed Yousuf Raza Gilani, who secured 169 votes.

Minister for Finance, Planning & Development

Abdul Hafeez Shaikh was appointed Federal Minister for Privatization and Investment in April 2003 during Gen Musharraf era. He is an economist of international repute, who was appointed as Adviser to Prime Minister on Privatisation & Investment with a status of Federal Minister in December 2002. He had a highly successful tenure as Minister for Finance, Planning & Development in Sindh Province during 2000-2002. He was the architect of the financial recovery of Sindh, restoring financial discipline, reducing taxes, increasing revenues, paying over Rs 20 billion of old bills, clearing the overdraft of State Bank of Pakistan of Rs11 billion, increasing allocation for poverty alleviation, social sector and development, and enhancing relationship of Sindh government with international donor agencies.

Federal Minister for Privatization and Investment

Abdul Hafeez Shaikh has been very successful as federal minster for privatization and investment. He completed 34 deal, worth more than $5 billion in a transparent manner during his era. Using the slogan “Privatization for the People”, and made in shares of many companies to 0.8 million people, and to create ownership and extensive.

Awarded Man of the Year 2004 Award

Abdul Hafeez Shaikh was awarded in Pakistan, “Man of the Year” in 2004 by the business community in recognition of his contributions to the country. In his era, Pakistan witnessed an increase of foreign direct investment from $1 billion to $5 billion.

Senate’s distinction 

Abdul Hafeez Shaikh was a highly regarded member of the Senate and he was Chairman of the Senate’s Committee on World Trade Organization.

Abdul Hafeez Shaikh’s International Work Exposure
Abdul Hafeez Shaikh has an international experience of accomplishing various assignments in Saudi Arabia, Sri Lanka, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Romania, Czech Republic, Iran, Kuwait, Argentina, Bangladesh, Jordan, Qatar, Malta, Botswana, Tanzania, Ghana and Libya.

Apart from official ranks and offices, Shaikh remained as General Partner of an international investment company, headquartered in New York. Roughly estimated, it’s set up a $1.38 billion fund for investments only in Asia. Abdul Hafeez Shaikh has been associated with international organization as distinguished financial advisor and economist. The details are as follows:

  • Islamic Development Bank, Ex-Officio Member of the Board of Governors (since 2019)
  • World Bank, Ex-Officio Member of the Board of Governors (since 2019)

 Abdul Hafeez Shaikh’s books

Abdul Hafeez Shaikh has authored many publications including a book on Argentina.


Rupee recovers marginally against US dollar, Euro, Pound, Dirham and Riyal; check forex rates

Pakistani rupee saw marginal improvement against US dollar as it appreciated in the open bank market.

Dollar Rate in Pakistan Today

On Thursday, the US dollar moved up and was being quoted at 285.3 for buying and 288.15 for selling.

Euro moves down to 311 for buying and 314 for selling. British Pound rate stands at 358.5 for buying, and 361.5 for selling.

UAE Dirham AED stands at 78 whereas the Saudi Riyal rate stands at 76.20.

Today's currency exchange rates in Pakistan - 30 November 2023

Currency Symbol Buying Selling
US Dollar ‎USD 285.3 288.15
Euro EUR 311 314
UK Pound Sterling GBP 358.5 361.5
U.A.E Dirham AED 78 78.7
Saudi Riyal SAR 76.2 77
Australian Dollar AUD 187.2 189
Bahrain Dinar BHD 759.67 767.67
Canadian Dollar CAD 209 211
China Yuan CNY 39.58 39.98
Danish Krone DKK 41.38 41.78
Hong Kong Dollar HKD 36.63 36.98
Indian Rupee INR 3.39 3.5
Japanese Yen JPY 1.49 1.56
Kuwaiti Dinar KWD 926.7 935.7
Malaysian Ringgit MYR 60.38 60.98
New Zealand Dollar NZD 173.44 175.44
Norwegians Krone NOK 26.25 26.55
Omani Riyal OMR 741.26 749.26
Qatari Riyal ‎QAR 77.63 78.33
Singapore Dollar SGD 211 213
Swedish Korona SEK 26.93 27.23
Swiss Franc CHF 325.9 328.4
Thai Bhat THB 8.23 8.38

Gold rates in Pakistan increase; Check today’s gold rates 30 November 2023

KARACHI – The gold price continues to climb up in the local market in line of upward trend in international market.

Gold Rates in Pakistan Today - 30 November 2023

On Thursday, the single tola of 24 Karat gold was available at Rs218,600, and the price for 10-gram gold reached Rs187,420.

Meanwhile, the 22 Karat Gold price stands at Rs200,380, 21 karat rate for each tola is Rs191,275 and 18k gold rate hoveres around Rs163,950.

In international market, the price of precious metal hovers around $2,045 per ounce.

Today Gold Rate in Pakistan

City Gold Silver
Lahore PKR 218,600 PKR 2,675
Karachi PKR 218,600 PKR 2,675
Islamabad PKR 218,600 PKR 2,675
Peshawar PKR 218,600 PKR 2,675
Quetta PKR 218,600 PKR 2,675
Sialkot PKR 218,600 PKR 2,675
Attock PKR 218,600 PKR 2,675
Gujranwala PKR 218,600 PKR 2,675
Jehlum PKR 218,600 PKR 2,675
Multan PKR 218,600 PKR 2,675
Bahawalpur PKR 218,600 PKR 2,675
Gujrat PKR 218,600 PKR 2,675
Nawabshah PKR 218,600 PKR 2,675
Chakwal PKR 218,600 PKR 2,675
Hyderabad PKR 218,600 PKR 2,675
Nowshehra PKR 218,600 PKR 2,675
Sargodha PKR 218,600 PKR 2,675
Faisalabad PKR 218,600 PKR 2,675
Mirpur PKR 218,600 PKR 2,675


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