Money Power

Aziz, 55, was widely known in Pakistan as an economic brain and was, in fact, regularly consulted by democratically elected governments of the country in the past. He rendered advice during the early 1990s when the Pakistan Government embarked on a privatisation drive.

There is, however, nothing in Aziz8217;s past to suggest an interest in politics. He joined Citibank in 1969 and remained there for the next 30 years as he steadily climbed the corporate ladder to become one of the bank8217;s vice-presidents in 1992.

During his long stint in the bank, he travelled widely heading various divisions of the bank in different parts of the world. He was head of corporate and investment banking for Asia-Pacific and then for Central and Eastern Europe. Since 1975, he spent most of his time overseas.

THOUGH he was a known name in circles that mattered, Aziz was never in touch with the man on the street. Born and brought up in Karachi, he always led an urbane lifestyle far removed from the realities of Pakistan. But this was precisely the kind of criticism he sought to overcome by fighting a by-election, albeit at the instance of Musharraf.

Aziz won handsomely from both the seats he contested but chose to retain Attock. Within three months of his swearing-in, the Pakistani PM undertook a visit to India and as the buzz goes, struck a 8216;8216;good chemistry8217;8217; with Prime Minister Manmohan Singh whom he considers his 8216;8216;economics guru8217;8217;.

The two had apparently met earlier, even before they became PMs. Aziz8217;s appointment as PM raised the possibilities of a healthy rapport between the two heads of government. The hopes were not dashed during his visit.

But the larger hope is that his elevation to the PM8217;s post would translate into greater economic thrust in Pakistan8217;s foreign policy, particularly in improving ties with India. And given his track record as Finance Minister, the expectations are not misplaced.

Aziz introduced a range of reform measures and has been greatly responsible for removing the 8216;8216;one tranche country8217;8217; label associated with Pakistan. The borrowings have steadily reduced and come down to manageable limits with Aziz taking advantage of a generous United States after 9/11. He has also been able to raise healthy amounts from non-resident Pakistanis and re-invest the same in the country.

But being Prime Minister will require a different talent, even though it8217;s Musharraf who calls the shots.