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This is an archive article published on March 18, 2010

Ambanis’ manager to become Pak FM

The man who was the Ambani's money manager has apparently moved on in world

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Pakistan Prime Minister Yousuf Raza Gilani may soon appoint former PML-Q leader,and one-time Musharraf loyalist Makhdoom Faisal Saleh Hayat as the country’s finance minister.

According to talks doing the rounds in Pakistan,Hayat is expected to take oath within the next 48 hours,as he has already had separate talks both Gilani and President Asif Ali Zardari.

But what is most noticeable is that Hayat is managing a massive hedge fund in Dubai of over one billion dollars which is apparently owned by India’s Ambanis.

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The hedge fund is called New Silk Route Partners (NRS) and is 1.4 billion US dollars fund owned by the Ambanis with some local partners in the United Arab Emirates (UAE).

Hayat had served as the Privatisation Minister in Musharraf’s regime,during which he was involved in the infamous privatisation deal of the Pakistan Telecommunication Company Limited (PTCL).

The big question is how would Hayat look after Pakistan’s already sluggish finance when he could not even safeguard the national interest in one multi-billion dollar deal,The Daily Times said.

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