National Development Finance Corporation

Last updated

The National Development Finance Corporation (NDFC) was a corporation owned by the Government of Pakistan, with the original main purpose of providing financing to public enterprises. Later its objectives were expanded to also provide financing to private enterprises as well. It was created in 1973 through an Act passed by the Parliament of Pakistan, under the premiership of Zulfikar Ali Bhutto. It was amalgamated into the National Bank of Pakistan, by the regime of General Pervez Musharraf in 2001. [1] [2]

Related Research Articles

<span class="mw-page-title-main">Karachi</span> Capital of Sindh, Pakistan

Karachi is the capital city of the Pakistani province of Sindh. It is the largest city in Pakistan and the 12th largest in the world, with a population of over 20 million. It is situated at the southern tip of the country along the Arabian Sea coast and formerly served as the capital of Pakistan. Ranked as a beta-global city, it is Pakistan's premier industrial and financial centre, with an estimated GDP of over $200 billion (PPP) as of 2021. Karachi is a metropolitan city and is considered Pakistan's most cosmopolitan city, and among the country's most linguistically, ethnically-, and religiously-diverse regions, as well as one of the country's most progressive and socially liberal cities.

<span class="mw-page-title-main">Economy of Pakistan</span>

The economy of Pakistan is categorized as a developing economy. It ranks as the 24th-largest based on GDP using purchasing power parity (PPP) and the 46th largest in terms of nominal GDP. With a population of 241.5 million people as of 2023, Pakistan's position at per capita income ranks 161st by GDP (nominal) and 138th by GDP (PPP) according to the International Monetary Fund (IMF).

<span class="mw-page-title-main">Shaukat Aziz</span> Pakistani banker and politician (born 1949)

Shaukat Aziz is a Pakistani former banker and financier who served as 17th prime minister of Pakistan from 28 August 2004 to 15 November 2007, as well as the finance minister of Pakistan from 6 November 1999 to 15 November 2007. He studied at St Patrick's High School, Karachi. Aziz graduated from the Institute of Business Administration in Karachi, and joined the corporate staff of the CitiBank Pakistan in 1969. He served in various countries' governments as CitiBank financier, and became executive vice-president of Citibank in 1999. After accepting a personal request by General Pervez Musharraf, Aziz returned to Pakistan from the United States to assume charge of the Finance Ministry as the finance minister while taking control of the country's economy. In 2004, Aziz was nominated by the Musharraf loyalist government, led by Pakistan Muslim League (Q), for the position of prime minister after the resignation of Zafarullah Khan Jamali on 6 June 2004.

<span class="mw-page-title-main">Ishaq Dar</span> 3rd Deputy Prime Minister of Pakistan

Muhammad Ishaq Dar, is a Pakistani politician who currently serves as Foreign Minister of Pakistan and the Deputy Prime Minister of Pakistan since 2024. He previously served as Finance Minister of Pakistan from 2022 to 2023, as Leader of the House for the Senate since 2022, and as Leader of the Opposition for the Senate of Pakistan from 2012 to 2013. Dar, affiliated with the PMLN, was reelected as a senator on a technocrat seat from Islamabad in the 2024 Pakistani Senate elections. He identifies as a free-market conservative and has been associated with both economically liberal and fiscally conservative policies.

<span class="mw-page-title-main">State Bank of Pakistan</span> Central bank of Pakistan

The State Bank of Pakistan (SBP) is the central bank of Pakistan. Its Constitution, as originally laid down in the State Bank of Pakistan Order 1948, remained basically unchanged until 1 January 1974, when the bank was nationalised and the scope of its functions was considerably enlarged. The State Bank of Pakistan Act 1956, with subsequent amendments, forms the basis of its operations today. The headquarters are located in the financial capital of the country in Karachi. The bank has a fully owned subsidiary with the name SBP Banking Services Corporation (SBP-BSC), the operational arm of the Central Bank with Branch Office in 16 cities across Pakistan, including the capital Islamabad and the four provincial capitals Lahore, Karachi, Peshawar, Quetta. The State Bank of Pakistan has other fully owned subsidiaries as well: National Institute of Banking and Finance, the training arm of the bank providing training to Commercial Banks, the Deposit Protection Corporation, and ownership of the Pakistan Security Printing Corporation.

<span class="mw-page-title-main">National Bank of Pakistan</span> Government-owned commercial bank in Pakistan

National Bank of Pakistan (NBP) is a Pakistani government-owned multinational commercial bank which is a subsidiary of State Bank of Pakistan. It is headquartered in Karachi, Pakistan. As of December 2022, it has over 1,500 branches across Pakistan.

<span class="mw-page-title-main">Radio Pakistan</span> Pakistan National Radio Broadcaster

The Pakistan Broadcasting Corporation ; formerly known as Radio Pakistan, serves as the national public broadcaster for radio in Pakistan. Although some local stations predate its founding, it is the oldest existing broadcasting network in Pakistan. Originally the network was established on 14 August 1947, following Pakistan's independence from Britain but on December 20‚ 1972 it was changed to a statutory body governed by the board of directors and a Director General. Radio is broadcast through FM, AM and shortwave radio frequencies. Select programming is also available through WRN.

N. M. Uqaili was the Finance Minister of Pakistan and a Chairman of the Pakistan Industrial Credit and Investment Corporation (PICIC).

<span class="mw-page-title-main">Shahid Khaqan Abbasi</span> Pakistani politician and businessman

Shahid Khaqan Abbasi is a Pakistani politician and businessman who served as the 21st prime minister of Pakistan from August 2017 to May 2018. He also currently leads Awaam Pakistan (AP)as it's President. Abbasi was the senior vice President of the Pakistan Muslim League-N (PML-N), and had been the secretary-general of Pakistan Democratic Movement (PDM), an anti-PTI coalition of political parties in Pakistan. He had been a Member of the National Assembly of Pakistan from October 2018 to August 2023 and previously served as a member of the National Assembly for 8 non-consecutive terms since 1988.

The Trading Corporation of Pakistan (TCP) (Urdu: مشارکتِ پاکستان برائے امورِ تجارت) is a Pakistani state-owned commodity trading company, mainly responsible for export and import of commodities. It also issues tenders for export and import of agricultural products. TCP has its offices across various cities of the country including Karachi, Islamabad, Lahore and Multan.

Industrial Development Bank of Pakistan is a Pakistani state-owned development bank located in Karachi, Sindh, Pakistan. It is among the oldest financing institutions in Pakistan.

<span class="mw-page-title-main">WorldCall</span>

WorldCall Telecom Limited is a Pakistani telecommunication and multimedia service provider based in Lahore, Pakistan. It is listed on the Pakistan Stock Exchange.

<span class="mw-page-title-main">Naveed Qamar</span> Pakistani politician

Syed Naveed Qamar is a Pakistani politician who has been a member of the National Assembly of Pakistan since February 2024, and previously served in this position from August 2018 till August 2023 and between 1990 and May 2018. He served as Minister for Defence and Minister for Finance between 2008 and 2013.

Rana Tanveer Hussain is a Pakistani politician who has been a member of the National Assembly of Pakistan since February 2024. Previously, he was a member of the National Assembly between 1985 and August 2023.

<span class="mw-page-title-main">Cabinet of Pakistan</span> Formal body of the Government of Pakistan

The Cabinet of Pakistan is a formal body composed of senior government officials chosen and led by the Prime Minister. All cabinet members sworn in are designated Minister and are seated at their respective ministries located in the Pakistan Secretariat.

<span class="mw-page-title-main">Fauji Fertilizer Company</span> Fertilizer company of Pakistan

Fauji Fertilizer Company Limited (FFC) is a Pakistani conglomerate company based in Rawalpindi. It is a subsidiary of the Fauji Foundation.

<span class="mw-page-title-main">Asad Umar</span> Pakistani politician and former business executive

Asad Umar is a former Pakistani politician who had been a member of the National Assembly of Pakistan from September 2013 till May 2018 and again from August 2018 to January 2023. He served as the Federal Minister for Planning, Development, Reforms and Special Initiatives, from 19 November 2019 to 10 April 2022.

<span class="mw-page-title-main">Privatisation in Pakistan</span> Economic programme

The privatisation process in Pakistan, sometimes referred to as denationalisation programme or simply the privatisation in Pakistan) is a continuous policy measure program in the economic period of Pakistan. It was first conceived and implemented by the then-people-elected Prime Minister Nawaz Sharif and the Pakistan Muslim League, in an attempt to enable the nationalised industries towards market economy, immediately after the economic collapse of the Soviet Union in 1989–90. The programme was envisaged and visioned to improve the GDP growth of the national economy of Pakistan, and reversal of the nationalisation programme in 1970s— an inverse of the privatisation programme.

<span class="mw-page-title-main">Imran Khan government</span> Government of Pakistan (2018–2022)

The Imran Khan government was the government of Pakistan which was formed by Imran Khan following his successful election as Prime Minister of Pakistan by the National Assembly. The cabinet had 25 federal ministers, 4 ministers of state and 4 advisors, most of whom assumed office on 20 August 2018.

Engro Fertilizers is a Pakistani fertiliser manufacturing company headquartered in Karachi with its manufacturing facility located at Daharki, and a facility located at Port Qasim as well. It is a subsidiary of Engro Corporation. It has 35% market share of the Pakistani fertilizer market as of 2023.

References

  1. "NDFC to be merged with NBP". Dawn. 30 October 2001. Retrieved 12 August 2024.
  2. "NA committee discusses NDFC repeal bill". Dawn. 5 October 2004. Retrieved 12 August 2024.