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The Info List - Shahkur Ullah Durrani

Shahkir Ullah Durrani (also known as "S.U.", and also transliterated as "Shahkur Ullah" and "Shahkirullah") (Urdu: شاکر اللہ درانی‬‎) (3 March 1928 – 20 November 2009) was a Pakistani banker and entrepreneur of Pashtun origin whose most notable positions were that of managing director of Pakistan International Airlines
Pakistan International Airlines
and Governor of the State Bank of Pakistan.

Contents

1 Background 2 Business career 3 See also 4 References

Background[edit] Durrani served for three years as an officer in the Pakistani Army.[1] Business career[edit] After leaving military service Durrani started on a banking career.[1] After some years in England, Durrani returned home to be appointed Deputy Managing Director of Pakistan Industrial Credit and Investment Corporation (PICIC) in 1962.[2][3] In February 1966 the Pakistani government established the Investment Corporation of Pakistan (ICP), a government-owned mutual fund with the objective of enlarging the investor base and developing the capital markets in Pakistan,[4] and Durrani was appointed its first managing director.[1][2][5] In September 1969 the Pakistani government nationalized Pakistan International Airlines and appointed Durrani[1] as its new managing director.[2] In July 1971 he was appointed Governor of the State Bank of Pakistan[6] but when the Pakistani military government lost a disastrous war against India in December, SU Durrani's meteoric rise was over. When Zulfiqar Ali Bhutto
Zulfiqar Ali Bhutto
became President and Chief Martial Law Administrator of Pakistan in December 1971, Durrani was put under house arrest and later sent to prison. No charges were brought against Durrani.[2][7] After his release from prison, Durrani resumed his banking career. In the 1970s Bankers Equity Limited (BEL) arranged a joint venture between him and a large Japanese leasing company --- Orient Leasing (later ORIX),[2] one of largest commercial aircraft lessors. BEL took 25% of the equity; the Japanese took 40%; Durrani's business partner took 4% with Durrani taking the rest (31%). SU Durrani was appointed Chairman of the Orient Leasing Pakistan Limited (OLP) with Humayun Murad as General Manager and his nominee. The Japanese managed the company till 1990, when the company went public. The Japanese directors took up assignments in Europe with the 43-year-old Humayun Murad appointed as Managing Director and Durrani remained as Vice Chairman.[8] Durrani later took on a number of projects in his home district, Charsadda, aimed at helping Pashtuns
Pashtuns
and Pakistanis, including job creation and funding humanitarian projects, development and charities. These projects included a fructose factory and Frontier Ceramics,[9] one of the largest in output of Italian style tiles and functional ceramics in Asia (at the time). See also[edit]

List of Pashtuns

References[edit]

^ a b c d Fricker, John (May 29, 1969). "PIA Looks Ahead". Flight International. p. 866. Retrieved 2015-02-27.  ^ a b c d e Idris, Kunwar (November 21, 2009). "From Subaltern to SBP Governor: Durrani". Dawn. Karachi. Retrieved 2015-02-27.  ^ "APPRAISAL OF PAKISTAN INDUSTRIAL CREDIT AND INVESTMENT CORPORATION, LIMITED". World Bank. February 5, 1963. Retrieved 2015-02-28.  ^ "Investment Corporation of Pakistan". Retrieved 2015-02-28.  ^ "The Imperial SEC? – Foreign Policy and the Internationalization of the Securities Markets, 1934–1990". Retrieved 2015-02-28. In 1966, USAID introduced the SEC to a Pakistani who was the managing director of the Investment Corporation of Pakistan and close to the president of Pakistan  ^ "SU Durrani passes away". The News International. Karachi. November 26, 2009. Retrieved 2015-02-27.  ^ "BHUTTO VISIT – PRIVATE VISIT OF S.U. DURRANI TO THE U.S". wikileaks.org. 1973-09-14. Retrieved 2015-02-28.  ^ "DUBAI MAJID AL FUTTAIM, JAPAN ORIX
ORIX
IN LEASING JV". Khaleej Times. Dubai. June 12, 2001. Retrieved 2015-02-28.  ^ "Annual Report 2000" (PDF). Frontier Ceramics. Retrieved 2015-02-28. 

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Governors of the State Bank of Pakistan

Zahid Hussain (1948–53) Abdul Qadir (1953–60) Shujaat Ali Hasnie (1960–67) Mahbubur Raschid (1967–71) Shahkurullah Durrani (1971–71) Ghulam Ishaq Khan
Ghulam Ishaq Khan
(1971–75) S. Osman Ali (1975–78) Aftab Ghulam Nabi Kazi
Aftab Ghulam Nabi Kazi
(1978–86) Vasim Aon Jafarey (1986–88) Imtiaz Alam Hanfi (1988–89) Kassim Parekh (1989–90) Imtiaz Alam Hanfi (1990–93) Muhammad Yaqub (1993–99) Ishrat Hussain
Ishrat Hussain
(1999–2005) Shamshad Akhtar
Shamshad Akhtar
(2006–09) Salim Raza (2009–10) Shahid Hafeez Kardar (2010–11) Yasin Anwar (2011–14) Ashraf Mahmood Wathra (2014–17) Tariq Bajwa (201