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WEEKLY NEWSLETTER
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Pakistan
Index
During his three-month tenure as caretaker prime
minister,
Moeen Qureshi initiated a substantial number of strong
reform
measures. He devalued the currency and cut farm subsidies,
while
raising the prices of wheat, electricity, and
gasoline--strategies to reduce Pakistan's huge budget
deficit--
7.5 percent of the gross national product
(GNP--see Glossary).
Qureshi also cut public-sector expenditures by instituting
austerity measures, including closing down ten embassies
and
abolishing fifteen ministries. Qureshi's most daring
innovation,
however, was a temporary levy on agricultural output--a
measure
resisted by powerful zamindari interests
(see Farm Ownership and Land Reform
, ch. 3).
Qureshi next proceeded to single out those politicians
who
had outstanding loans obtained from state banks and
institutions--loans received under easy terms in return
for past
political favors--a total estimated at US$2 billion. In a
move
calculated to shame these individuals, Qureshi added their
names
to a published list of 5,000 individuals who had not
fulfilled
their loan obligations. Approximately 15 percent of the
individuals on the list had planned to run for office in
the
coming elections. These candidates included Benazir,
Benazir s
husband, and Nawaz Sharif's brother. Most candidates
quickly
repaid their loans; those who did not were barred from
contesting
the October 1993 elections. Drug-trafficking barons,
however, a
small but powerful group including some members of the
parliament--were permanently barred from running in the
elections. Anticipating a further crackdown, several of
the drug
barons fled the country.
In his three months in power, Qureshi exhibited an
admirable
degree of technocratic efficiency tempered by dogged
determination. Yet it remained to be seen whether his
achievements would be accepted without reversal by the
subsequent
administration. Indeed, the Qureshi caretaker government,
some
argue, because of its temporary nature, was not much
constrained
by the realpolitik of Pakistani society that the
succeeding
government would have to face. The Qureshi government had,
nonetheless, set a standard--one with which past
governments and
the succeeding government of Benazir would no doubt be
compared.
Data as of April 1994
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