Page 2 - NIBAF-Training Matters January-March 2021

Ex-Governor SBP and Advisor to the Prime Minister
for Institutional Reforms and Austerity, Dr. Ishrat
Hussain enlightened and enlivened the SBOTS-24
th
Batch with his visionary talk at NIBAF, Islamabad. In
this interactive session with these freshly inducted
SBP officers who are currently under 5-month
induction training at NIBAF, Mr. Hussain visibly
stirred minds and hearts of not only these SBOTS
officers but all the audience present in the
auditorium. He spoke on multiple issues facing the
economy in general, and also advised the new
inductees on character building and polishing of
their professional careers. As always, his tireless
zeal and inspiring life story left mesmerizing effects
on the audience.

A summary of his talk goes below:
Dr. Ishrat started off his talk by reminiscing the main
highlights of his profession and his journey of being
of service to Pakistan. While his life story was well-
known to most of his audience, hearing it from the
man himself was awe-inspiring. His message was privatization front. Three SOEs that happen to place
simple: work hard, work honestly, be sincere to
yourselves and invest in yourselves. In response to a the highest burden on government expenditures
(namely, Pakistan Railways, PIA and Steel Mills)
question regarding how he was able to serve on a shall soon be structurally reformed; Pakistan
plethora of high profile and diverse positions, his Railways and Steel Mills are to be handed over to
response was iconic: “Never chase work. Chase the private sector.
excellence instead, and the work will chase you.”
Commenting on social ills, Dr. Ishrat highlighted
Likewise, his ability to clear the air about where the divisions on ethnic, social, religious and language
fault lies in a fledgling Pakistan was also refreshing. basis as a drain on the country’s productive
Rather than lambast the state for the country’s ills as
is the norm in our society, he instead rightly blamed potential due to consistent low level instability and
inequality. He instead advised his audience to
the culture of nepotism, cronyism and bribery that collaborate for collective goals rather than indulge
persists in the society on the whole. This culture, he in leg pulling. He also remarked: “Park your egos
pointed out, is most aptly visible in overstaffed, out of the offices”.
inefficient and loss-making state-owned enterprises
where political workers rather than professionals Expressing his disappointment with the low number
have been hired for decades. of female inductees, Dr. Ishrat recalled that
compelling parents to let their talented daughters
As the man leading the institutional reform
juggernaut however, he had some good news on the enter the workforce was a challenge in supposedly
progressive schools like the IBA Karachi as well. His

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