South Asia Investor Review

Professor Pervez Hoodbhoy is a vocal critic of Pakistan's Higher Education Reform initiated by Dr. Ata ur Rahman, adviser to President Musharraf , in 2002. This reform resulted in over fivefold increase in public funding for universities, with a special emphasis on science, technology and engineering. The reform supported initiatives such as a free national digital library and high-speed Internet access for universities as well as new scholarships enabling more than 2,000 students to study abroad for PhDs — with incentives to return to Pakistan afterward. The years of reform have coincided with increases in the number of Pakistani authors publishing in research journals, especially in mathematics and engineering, as well as boosting the impact of their research outside Pakistan. Reacting to the recent publication of a report on reform by Dr. Athar Osama, Prof. Adil Najam, Dr. Shams Kassim-Lakha and Dr. Christopher King published in Nature Magazine , Dr. Hoodbhoy wrote a letter t...

Here's an editorial opinion published in Nature Magazine on the status of Pakistan's Higher Education Reform initiated under President Pervez Musharraf in 2002: Massive funding for Pakistan's ailing universities holds many lessons for other developing nations. Eight years ago, a task force advising Pakistan's former military ruler, General Pervez Musharraf, laid out a bold plan to revitalize the country's moribund research system: initiate a fivefold increase in public funding for universities, with a special emphasis on science, technology and engineering. The proposal was a radical departure from conventional wisdom on the economics of developing nations, which favours incremental investments. Sudden surges of cash are held to be dangerous in poorer countries, which often lack the institutions or the calibre of people required to make the most of such a windfall, and the money can easily be wasted or fall prey to corruption. Nonetheless, Musharraf agreed to the pr...

The International Monetary Fund has come under severe criticism as the financial crisis that started on Wall Street is spreading to the developing world. IMF is the most important multi-lateral financial institution. It is responsible for overseeing the global financial system and the economic policies of its 185 members. The IMF is supposed to act as an early warning system for markets and economies. The institution is also charged with diagnosing economic problems and proactively regulating and stabilizing the international financial system to prevent and manage the kind of financial crisis the world is facing now. Pakistan's former Prime Minister Shaukat Aziz , credited with reviving Pakistan's economy, is taking the IMF to task for being absent, or at least tardy. Mr. Aziz accused the International Monetary Fund last week of failing to show leadership during what he described as a "historic" global financial crisis. As world leaders met to shore up distressed fin...