Moeenuddin Ahmad Qureshi

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Moeenuddin Ahmad Qureshi
Prime Minister of Pakistan
Acting
In office
18 July 1993 – 19 October 1993
President Wasim Sajjad (Acting)
Preceded by Nawaz Sharif
Succeeded by Benazir Bhutto
Personal details
Born (1930-06-26) 26 June 1930 (age 84)
Lahore, Punjab, British India
(now in Punjab, Pakistan)
Alma mater Islamia College, Lahore, Government College University, Lahore
University of the Punjab
Indiana University, Bloomington

Moeenuddin Ahmad Qureshi, usually referred to as Moeen Qureshi, (born 1930) is a Pakistani economist and political figure. A former Vice President of the World Bank, he was the Interim Prime Minister of Pakistan from July 18, 1993 until 19 October 1993.

Education[edit]

Dr. Qureshi holds a B.A. (Hons.) and M.A. (Economics) from the University of Punjab and a Ph.D. (Economics) from Indiana University. He received his initial education at Islamia College Lahore and Government College, Lahore.

Experience at the World Bank[edit]

From 1980 to 1991 he was at the World Bank, first as Senior Vice President for Finance and Chief Financial Officer of the Bank from 1980-1987, and then as Senior Vice President for Operations, in charge of all Bank operations during 1987-1991. Prior to that, Mr. Qureshi was at the International Finance Corporation as Vice President and second in command between 1974-1977, and as Executive Vice President and Chief Operating Officer from 1977-1981. He served with the International Monetary Fund from 1958 to 1970 and served both at headquarters and in the field in a variety of senior economic and operations assignments before joining the IFC.[1]

As Interim Prime Minister of Pakistan[edit]

The continuing political crisis of 1993 in Pakistan came to an abrupt halt when the Prime Minister Nawaz Sharif and President Ghulam Ishaq Khan both resigned after two weeks of intense negotiations between the Nawaz Sharif government, Benazir Bhutto and the army. The resolution of the crisis was unique because for the first time in the nation's history, a government had voluntarily stepped down in order to avoid a possible military intervention. The negotiations were mediated by General Abdul Waheed Kakar, the Army Chief of Staff. The resultant agreement and its implementation followed strict constitutional procedure. Ghulam Ishaq Khan was replaced by the chairman of the Senate, Wasim Sajjad, who functioned as Acting President until the elections. More importantly, Moeen Qureshi, a former civil servant and senior World Bank official, agreed to serve as caretaker Prime Minister. During his brief tenure, Qureshi undertaook a series of economic and political reforms that were supported by an IMF standby arrangement and significant World Bank lending. He appointed several highly regarded technocrats and businessmen to his cabinet: Syed Babar Ali as Finance Minister, and Hafiz Pasha as Commerce Minister. He also appointed a number of experienced civil servants to senior positions on his staff including his younger brother Salman Qureshi (Inspector General of Punjab Police Retd), a well known and respected figure in the civil service and political community of Pakistan. Qureshi, a Pakistani national, had left the World Bank in 1992, obtaining permanent residence status in the United States where he founded Emerging Markets Partners, a private equity firm focusing on emerging markets investment. He is currently Chairman and Managing Partner. He is also known as Imported Prime Minister of Pakistan.

EMP Global[edit]

Following his return to the United States, Qureshi led EMP Global, an Asia-focused fund manager, establishing a series of funds.

Qureshi was involved in forging an affiliation with the international insurance company, American International Group ("AIG"), for a number of years. AIG held a minority stake in EMP and served as sponsor of, as well as a major investor in, a number of funds bearing its name for which EMP served as Principal Adviser. EMP bought out AIG's stake and became an independent company in 2005.[2]

References[edit]

  1. ^ Biography on EMP Global's webpage
  2. ^ History on EMP Global Website
http://go.worldbank.org/OAX9A8SXJ0

External links[edit]

Political offices
Preceded by
Nawaz Sharif
Prime Minister of Pakistan
Acting

1993
Succeeded by
Benazir Bhutto