Ishrat Hussain, Pakistan's central bank governor, expects to see a significant shift in the pattern of banking across the country after the successful privatisation of Habib Bank, one of Pakistan's three largest public sector banks.The sale of 51 per cent of Habib Bank's stock to AKFED (Aga Khan Fund for Economic Development) for $400 million in Pakistan's largest bank privatisation ever has set the pace for policy makers such as Hussain to claim that banking has returned to the private sector.
Nestled amid the towering Himalaya, Hindukush and Karakoram ranges, communities in Pakistan?s Northern Areas have undergone a silent socio-economic upheaval in the past 20 years.
With $100 million, a development network headed by Prince Aga Khan, spiritual head of the Ismaelite sect, overhauled the region from a network of sleepy, marginalized communities in 1982 to a vibrant region boasting schools, healthcare, hydro-electric power schemes and even a micro-finance bank. The Northern Areas is home to 1.2 million people spread across 1,123 villages.
Spiritual leader of the Ismailis Prince Karim Aga Khan arrived here on Sunday evening on a short visit. Minister of State for Foreign Affairs Makhdoom Khusro Bakhtiar and other government officials received the Aga Khan at the airport. During his visit the Aga Khan will meet Prime Minister Shaukat Aziz, Senate Chairman Muhammadmian Soomro and other federal ministers.
The buyers of Habib Bank Ltd have decided to retain its senior officials including President Zakir Mahmood. They will take over the bank management after paying for 26 per cent of the bank shares in the middle of next month.HBL sources told Dawn the Aga Khan Fund for Economic Development Fund (AKFED) that bought 51 per cent HBL shares last month had asked Mr Mahmood to continue as its president with his present team. They said the Fund had apprised the State Bank of its decision to retain Mr Mahmood, and the central bank had approved it.
The Aga Khan Development Network (AKDN) has announced an initial contribution of Rs30 million in support of the earthquake relief being provided by the government which will be matched by Habib Bank Limited with a further Rs30 million donation towards the President?s Emergency Relief Fund.
A press release issued on Monday also said that AKDN helicopters have been put at the disposal of the authorities to assist in humanitarian efforts.
CWS AID: The Church World Service-Pakistan/Afghanistan has chalked out a plan for rehabilitation of earthquake victims.
Presiding over the 18th Convocation of Aga Khan University, the Chancellor of the University, His Highness the Aga Khan announced the retirement of the first president of the University, Shamsh Kassim-Lakha. The Chancellor also introduced to the Convocation, Mr Kassim-Lakha's successor, Firoz Rasul, who will assume the presidency on May 1, 2006.
The spiritual leader of Ismaili community, Prince Karim Aga Khan would be visiting Pakistan on December 2. During the six-day tour, the Prince will meet President General Pervez Musharraf, Prime Minister Mir Zafarullah Khan Jamali and the Pakistani cabinet members.
The Prime Minister Jamali will host a luncheon in the honour of the visiting dignitary on December 3 whereas the visiting guest will attend the dinner hosted by the President Gen Musharraf on the very same night.
His Highness the Aga Khan, founder and Chairman of the Aga Khan Development Network (AKDN), today visited Muzaffarabad, capital of Azad Jammu, and Kashmir and Balakot, North West Frontier Province, areas severely affected by the 8 October earthquake.
President General Pervez Musharraf on Monday inaugurated the country's first private financial institution, The First Micro-Finance Bank Ltd. The institution is dedicated to address the problems of endemic poverty, starting out with a capital of Rs 500 million contributed by the Aga Khan Rural Support Programme and the Aga Khan Foundation.
Canada will convert around 2 billion dollars of debt into fresh aid for education promotion in Pakistan which would translate into around 100 million dollars for education.
This was announced by outgoing Canadian High Commissioner in Pakistan, Mrs Margaret Huber, at a reception arranged for her under the aegis of the English Speaking Union at a local hotel Monday evening.
The Aga Khan University (AKU) in collaboration with the University of Alabama (UAB) at Birmingham, USA, has been awarded a grant from the Fogarty International Centre of the United States National Institute of Health, to co-develop research training courses in Karachi and abroad for Pakistani health professionals wishing to advance their expertise in occupational and environmental health.
Prince Karim Aga Khan, who is on a visit to Pakistan, Wednesday called on President General Pervez Musharraf and Prime Minister Mir Zafarullah Khan Jamali at Aiwan-e-Sadr and Prime Minister House to exchange views on a number of issues of mutual interest.
Prince Karim Aga Khan held detailed discussions with the President and the Prime Minister regarding investment cooperation in various fields especially in the telecommunications, financial, social and economic development sectors.
Spiritual head of Ismaili sect and Chief of Aga Khan Foundation Prince Karim Aga Khan arrived in Pakistan on Tuesday night on his visit to Pakistan. Minister for Water and Power Aftab Ahmad Khan Sherpa as well as other senior officers welcomed him at the airport.Amid tight security the Prince was escorted to President's House where he would stay tonight.
He would meet Prime Minister Mir Zaffarullah Khan Jamali on Wednesday (today).
His Highness Prince Karim Aga Khan, Spiritual Leader of the Shia Ismaili Muslims, President General Pervez Musharraf & Prime Minister Mir Zafarullah Khan Jamali standing solemn silent in the respect of National Anthem at a reception, hosted by President in the honour of Prince at President House.ISLAMABAD - The spiritual leader of the Ismaili community, Prince Karim Aga Khan held separate meetings with President General Pervez Musharraf and Prime Minister Mir Zafarullah Khan Jamali here on Wednesday.
Imran: Good evening ladies and Gentlemen, we have a very distinguished visitor here this evening. Somebody who has always been a great friend of Pakistan, he is the Spiritual Leader of the Ismaili Muslims, an illustrious son of Islam, and as I said earlier, every time he visits, the People of Pakistan look forward to it. Look forward to his interventions and to his great vision, which is always translated eventually into reality. I'd like to welcome His Highness the Aga Khan.
-Aga Khan: Thank you very much indeed.
Imran: Welcome to Pakistan.
Aga Khan: Thank you very much.
His Highness Prince Karim Aga Khan has stated that Pakistan represents an attractive destination for investment and Aga Khan Fund for Economic Development intends to expand its operations in financial services, telecommunications and tourism business.
This was stated by the distinguish guest during his meeting with Finance Minister, Shaukat Aziz here on Wednesday. He stated that Pakistan has tremendous potential as a Tourist destination particularly in the Northern Areas as well as along the coast line around Gawadar and these should be developed to attract tourists from all over the world.
Sindh Governor Dr. Ishratul Ebad Khan has announced allotment of 500 acre land in Karachi for the educational projects of Aga Khan Foundation (AKF).
He made the announcement at a reception he hosted on Saturday night at Governor House here in honour of Prince Karim Aga Khan, the spiritual leader of Ismaili community. The Governor appreciated the contribution of and services of AKF in the field of health and education. He assured all assistance on behalf of Governor of Sindh to the Foundation.
The Aga Khan Foundation and Canadian International Development Agency (CIDA) have joined forces under the Pakistan-Canada Social Institutions Development Programme (SIDP) to support initiatives and efforts for strengthening the role of civil society in country's development.
In his address at Aga Khan University's (AKU) Convocation 2005, the Chief Guest, His Excellency Shaukat Aziz, Prime Minister of the Islamic Republic of Pakistan, said, 'I am privileged to be in this centre of excellence, which is an icon of quality education all over the world.' Observing that unhealthy nations can never progress, he reiterated that in order to become global competitive players, it is necessary to acknowledge a new paradigm and education systems need to change.
Prince Karim Aga Khan, the spiritual head of the Ismaili community, held a meeting with Sindh Governor Ishratul Ibad Khan at the Governor?s House on Friday. Views were exchanged on various matters of importance including rehabilitation of earthquake-hit people and ongoing measures for the promotion of health and education facilities in the province. The governor appreciated the assistance and cooperation extended by Aga Khan for the relief and rehabilitation of quake-hit people. He welcomed the visit of Aga Khan to Pakistan to express his solidarity at this hour of trial.