Pakistan's second largest commercial bank, Habib Bank has been handed over to Aga Khan Fund for Economic Development.
An agreement was signed in Islamabad this afternoon by the Privatisation Commission and the Fund for transfer of management of the bank.
Aga Khan Fund had given the highest bid of over 22 billion rupees in December last year for acquiring 51% strategic stake and acquiring management control in the Bank.
Prime Minister Jamali would be hosting a luncheon in the honour of Ismaili Spiritual leader Prince Karim Aga Khan today (Wednesday) at the Prime Minister House.
Influential political personalities have also been invited to the luncheon.
Prince Aga Khan will also attend a dinner hosted by President Gen Musharraf on the very night.
The Aga Khan after reaching the provincial capital, Karachi on December 5, will attend the annual convocation of the Aga Khan University on December 6.
President, Khushhali Bank, Ghalib Nishtar has said the Bank would continue to generate 100,000 clients each year and by the year 2010 it aims to create about one million clients.He expressed these views while addressing a seminar on 'Current Issues in Microfinance,' organised by Pakistan Microfinance Network in cooperation with Aga Khan Foundation Pakistan through Social Institutions Development Programme funded by Canadian International Development Agency here Saturday.
The European Commission (EC) has approved Euro 20 million (approximately Rs. 1,280 million) grant for Pakistan's educational development, to be undertaken by Aga Khan Foundation Pakistan (AKFP) over the next five years.The grant mainly aims at improving access, quality and sustainability of education for in-school and out-of-school children, with increased gender equity and the participation of communities in the Northern Areas and Chitral (NAC), a highly placed source said here MOnday.
Ambassador and Head of the European Commission Delegation in Pakistan, Ilkka Uusitalo, will visit Sakardu, Hunza Gilgit and Chitral from June 11 to 14. During his visit he will inspect and review the EU-sponsored projects in these areas. Uusitalo would be meeting the Chief Secretary of Northern Areas, Secretary Education of Northern Areas and the District Nazim of Chitral.Last month, the EU approved a grant of Rs. 1.28 billion to support Aga Khan Foundation's Northern Pakistan Education Project (NPEP).
The European Commission (EC) has approved euro 71 million for Pakistan to develop a three-year National Indicative Programme (NIP) in the education sector.
Prior to its approval by the EC, which is the executive arm of the European Union (EU), the NIP was endorsed by the Government of Pakistan and the EU member states.
Prince Karim Aga Khan has said he was considering to open a micro finance bank, and take part in other welfare activities in Afghanistan to help alleviate poverty from that country.
Speaking at the inaugural ceremony of first Micro Finance Bank, set up by the Aga Khan foundation in Pakistan, he said here on Monday that a similar bank would be established in Afghanistan owing to growing poverty and other economic problems being faced by the Afghan government.
Acting President Mohammedmian Soomro has appreciated the keen interest of Prince Karim Aga Khan in the socio-economic development of Pakistan. Mr Soomro was talking to the spiritual leader of the Ismaili community, who had called on him on Monday.Minister of State for Foreign Affairs Makhdoom Khusro Bakhtyar and senior officials of the foreign ministry were present during the meeting. The Aga Khan briefed the acting president on the setting up of an educational city in Karachi.
The government will consider opening up of Azad Jammu and Kashmir and Northern Areas to mobile phone operators. This was stated by Information Technology Minister Awais Ahmad Khan Leghari at a forum on development of telecom services in rural areas, organized by the Pakistan Telecommunication Authority (PTA) at a local hotel on Wednesday. 'I do not consider opening up of the AJK to cellular phone companies will pose any security threat,' he said.
The Aga Khan Foundation Pakistan (AKFP)] is hosting a two-day workshop to identify key applicable practices, opportunities, approaches and challenges on how public-private partnership can contribute to sustainable social development and a stronger synergy between the government and civil society in Pakistan.
The Aga Khan Rural Support Programme (AKRSP) will be presented as a case study in poverty reduction before the international conference on poverty to be held at Shanghai, China, next month.
This was disclosed during a discussion which was convened at the World Bank office here on Monday as a preamble to the Shanghai Conference. Country director John Wall presided over the discussion.
Prince Karim Aha Khan, the spiritual leader of Ismailis, called on Prime Minister Shaukat Aziz at Prime Minister?s House on Sunday and the two discussed the regional and international situation.The prime minister told the Aga Khan that his government wanted him to invest in Pakistan as there was great potential for investment in tourism in the country.
Aga Khan and Musharraf Discuss Regional IssuesNew microfinance and tourism initiatives focus on poverty and economic development - 2002-03-12Posted February 25th, 2010 by heritage
His Highness the Aga Khan, Imam of the Ismaili Muslims, and Pakistan?s President Pervez Musharraf yesterday launched two major initiatives: one to address the problem of endemic poverty, and the other to realise more fully the potential of an underdeveloped sector of Pakistan?s economy. These were also amongst topics discussed between the two leaders in private meetings.
Prince Karim Aga Khan called on President Pervez Musharraf and Prime Minister Mir Zafarullah Jamali here on Monday and exchanged views on issues of mutual interest.In his separate meetings with the president and the prime minister, Prince Karim Aga Khan held detailed discussions regarding investment cooperation in various fields, especially in the telecommunications, financial, social and economic development sectors.
He appreciated the direction of the government's economic policies which had helped in restoring investors' confidence.
Prince Karim Aga Khan on Tuesday said the West needs to improve its understanding of Islam and also recognise the issues that are agitating the mind of the Muslim Ummah. Prince Karim Aga Khan, who is on a visit to Pakistan, said this while talking to a group of editors.Aga Khan deliberated upon the various facets of US' understanding of Islam and lamented the bias against Islam in the West. Commenting on the post-Sept 11 developments, he emphasised the need for a better understanding of Islam and the issues perturbing the Muslim mind around the world by the West.
The spiritual head of the Ismaili community, Prince Karim Aga Khan, currently visiting Pakistan, called on Prime Minister Mir Zafarullah Khan Jamali at the Prime Minister's House here on Saturday.According to a statement issued here Prince Karim Aga Khan and Prime Minister Jamali exchanged views on matters relating to the development projects undertaken by the Ismaili community in Pakistan.
The prime minister lauded the contribution being made by the community in the socio-economic development of the country, especially in the health and education sectors.
Spiritual leader of the Ismalli community, Prince Karim Aga Khan, called on President Gen Pervez Musharraf at the Aiwan-i-Sadr on Friday.Welcoming the Aga Khan, the president appreciated the various philanthropic and development projects undertaken in Pakistan at his initiative.
President Musharraf praised the keen personal interest of Aga Khan in health, education and other welfare projects in the social sector. The Aga Khan lauded the recent economic achievements of Pakistan, and said the country offers an investment-friendly climate.
President Pervez Musharraf today inaugurated The First MicroFinanceBank Ltd. in the presence of His Highness the Aga Khan, Imam of the Ismaili Muslims and Chairman of the Aga Khan Fund for Economic Development.
The Bank, the country?s first private financial institution dedicated to addressing the problems of endemic poverty, starts out with a capital of Rs.500 million contributed by the Aga Khan Rural Support Programme and the Aga Khan Fund for Economic Development
Tawana Pakistan Programme is successfully working in about 650 schools to improve educational as well as nutritional status of girls in poverty-ridden areas.The project aims at providing about 0.5 million girls access to education in about 5,300 primary schools in poverty-ridden districts, an official of the education ministry said.
Minister for Kashmir Affairs and Northern Areas Makhdoom Syed Faisal Saleh Hayat called on spiritual leader of Ismaili community Prince Karim Aga Khan at Serena Hotel, here on Tuesday.
Faisal thanked Prince Karim Aga Khan for paying visit to Azad Kashmir to express solidarity with the earthquake victims.
The minister also thanked the prince for extending assistance for the quake victims.
Faisal Saleh Hayat lauded the development and welfare activities of Aga Khan Foundation in Northern Areas.