Ishrat Husain: Why privatisation is necessary for economic growth in Pakistan? Address by Mr Ishrat Husain, Governor of the State Bank of Pakistan, at the 11th Get Together of the Overseas Universities Alumni Club and the 21st Century Business & Economics Club, Karachi, 12 August 2005.
*  *  *  The decade of 1970s in Pakistan witnessed a massive redistribution of national assets from the private owners to the state. The reason underlying the then Government’s thinking for this extremely radical action was that the national wealth was being concentrated in the hands of few families and the rich were getting richer and the poor getting poorer.