Economic History of Pakistan - 1947-1987 - Khurram Hussain -

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Khurram Husain is the former Editor at Profit. He is a Business and Economy journalist and columnist and has written for Dawn, Express Tribune and Emerging Markets among others.
Khurram Hussain comes on for a comprehensive breakdown of the Economic History of Pakistan. In the first part we cover the history 1947-1987 with some shocking Economic Revelations.
On this deep dive podcast we discuss the Pakistani Economy, what keeps us in the boom-bust cycle, why we keep going back to IMF, the price Pakistan has paid for dictatorships and whether our economy is designed just for the elites.
The Pakistan Experience is an independently produced podcast looking to tell stories about Pakistan through conversations.
Please consider supporting us on Patreon:
/ thepakistanexperience
And Please stay in touch:
/ thepakistanexp1
/ thepakistanexperience
/ thepakistanexpeperience
The podcast is hosted by comedian and writer, Shehzad Ghias Shaikh. Shehzad is a Fulbright scholar with a Masters in Theatre from Brooklyn College. He is also one of the foremost Stand-up comedians in Pakistan and frequently writes for numerous publications.
shehzadghiasshaikh
Facebook.com/Shehzadghias/
Twitter.com/shehzad89
Chapters:
0:00 Origins of Pakistan's economy and partition
13:21 The past, self sufficiency, and East Pakistan dependency
26:39 Historical turning points, Ayub Khan's era, rent seeking
40:03 Democracy vs dictatorship, American alliance and buying passports
51:16 Decade of Development and the 1965 war
58:54 Nationalization, post colonial expenses, and Americanisation
1:10:31 PPP criticism, Zia ul Haq, Nawaz Sharif
1:20:25 Ghulam Ishaq Khan and IMF
1:31:28 Technocrats, 2008 banking crisis, Shaukat Tarin
1:41:49 QnA

[@nicholasbourbaki7536]

Please bring Khurram again to cover the other 30 years. I am an Indian and only now learn about Pakistani economic history. I did not realize until now that you had 5 year plans there just as you had here. The point about F16 was very insightful. One plane and such a big deal for the whole country’s economy ! Shows you the real harm lack of peace has caused - what else is out there even if not on the same scale. Wonder if there are such hidden gems in Indian economic history.

[@MrNikintel]

It took 3 days to completely understand and fact checking , its 100% pure gold.

[@kpopenjoyer2039]

What sources did you use to fact check this?

[@orion7326]

@@kpopenjoyer2039 Only one. Internet.

[@vaidehivihari3601]

What's interesting is, there's so much intellectual capital coming out of this part of the world and yet it doesn't seem sufficient to end our problems! Take a bow Shehzad, you're doing a phenomenal job! 💯

[@vineetraina119]

Lolzzzz,😭🤣 seems you have intellectual deficiency ...Khurram spoke the gold not shehzad.

[@thelonelyvoice5501]

Lga nhi tha tumhe es trah Ka podcast psand hoga

[@KanishQQuotes]

Intellectual capital? You mean the Marxist brigade

[@Dhhu333]

Not that part of world, all renowned South Asian intellectuals are indian

[@CVRao-fz4je]

Dr Khurram Hussain is lucid in his presentation. One rare Pakistani who is fluent with english and make persons like me to understand the Pakistan history.

[@future_islookinginvisible]

happy diwali all of pakistan

[@shoaibchaudhry550]

Happy Diwali Salman khan g...

[@mangishumail]

Happy Diwali

[@future_islookinginvisible]

@believerofcreator world advance ma

[@ahmedrazamughal]

Happy diwali 🪔

[@lakhaniahmed1982]

@@manteshsharma9351 6 months advance mein

[@anuragbhatt6234]

Congratulations Shahzad for 40k subscribers. I am an Indian and I just love the content you provide to international audience especially to indians about pakistan. There are so many misconceptions earlier I had about pakistanis, these podcasts are the best way to understand more about pakistan. Thank you for creating this ❤️

[@nageri]

Would love if you suggest some similar podcast from your side as well.

[@samidhchoudhury5809]

@@nageri Ranveer allahbadia is decent.

[@arunsar7893]

@@nageri If you really like nuanced views on long podcasts similar to what The Pakistan Experience does, listen to 'The Seen and the unseen' . Ranveer Allahbadia's podcast is like the Big Boss of podcasts with a lot of masala and very less substance, and hence naturally more popular.

[@arunsar7893]

@@csheru Awasthi Ji .. Get a job, a life and a brain transplant.

[@orion7326]

@@nageri Raj Shamani & Dostcast. But the themes of those are very different. If you want to understand India, watch masters' union. It's mostly a business podcast but has a lot of genuine talk about Indian society. Humans of Bombay is also good.

[@khandadadada]

Bring this guy again. Probably one of the best podcast i have seen in recent times

[@AM-jr9lg]

Kyoun Atif Mian ka pasand nahi aya

[@szuberi]

This was perhaps the most intellectual discussion I have seen on your channel. Wonderful work and an a great learning opportunity.

[@vkalyan]

I am surprised this program doesn’t have millions of Pakistani views. Very informative and intelligent discourse🙏

[@akramjameel4765]

بہت ھی مُنفرد انداذ سے محلومات لوگوں تک پہنچائی گی مجموعی طور پر عمدھ پروگرام ھے اس کامیاب کاوش پر پوری ٹیم مُبارک باد کی مُستحق ھے

[@shehryargondal3084]

congratulations on 40k. Love your latest streak of podcasts. This guest is a great choice for commentary on Pakistani economy. Very excited for this one 🥳🥳

[@F-Khan491]

Perfect unfiltered dig into our history. TPE once again proves to be the best in this business! Thank you Shahzad.

[@subbiahsivakumar]

This is a rarely seen discussion in the Pakistani media these days...congratulations! Good to see this tenacious persuit of good common sense in Pakistan

[@ahsanhabib9820]

Excellent podcast,KH is indeed knowledgeable and articulate.He let me identified some of my own biases that I had about economic history of pakistan

[@prehmemon]

This episode should be made a mandatory part of our Pakistan Studies curriculum.

[@arunsar7893]

Loved your podcast.

[@shivas9600]

Truth is haram 😂

[@ssmujoo]

My favorite guy. He is much more informed than so called pin headed pakistani economists.

[@bandoiler]

great podcast ! and that ZAB mimicry was spot on ! 😀😀

[@ThePakistanExperience]

😅

[@nitin-wb7lt]

What a great podcast! Such an interesting interview and kept wonderful pace.

[@waliullah1206]

Brooo khurram Hussain makes me realise im born today as of understanding about economy of Pakistan every second of your podcast much more informative than any book containing the Pakistani history

[@aliakram799]

Yoi are doing a Great job, just shows how much basic education is needed. I once randomly played your podcast but then couldn't stop it until finished. I realy appreciate that the talks and knowledge is unbiased,comprehensive and relative. Keep it up, hopefully one day we ll see our country and country men rising with pride among the nations.

[@hamzakhurram8912]

BEST EPISODE HANDS DOWN. Respect for Khurram Hussain yaar.

[@ThePakistanExperience]

🙌

[@mohanvirick2600]

This is the best podcast I have heard in recent past Enlightening and in simple way to understand events Do present more of content of this quality

[@saadamin79]

Brilliant podcast. Getting better with everyone. Much appreciated Shehzad

[@iftyz263]

Excellent podcast Shehzad. One of the best I've watched. Khurram Hussain really should write a book (or two) on the history of Pakistan's economy.

[@AzeemaFaizunnisa]

Very engaging and illuminating. Please bring him back to discuss the economic history from the nineties till now.

[@AmirAli-bv6ic]

Such a gem of conversation, Thanks Shahzad bhai.

[@zaidikmc]

An eye opener for the viewers.....! Brilliant analysis by Khurram Sir!

[@azmatsehar]

OMG this is fascinating revelation, hopefully Pakistani youth will watch this, this interview should be made mandatory in all Universities of Pakistan great job @the Pakistan Experience team

[@echosmith5256]

what was the revelation here? sounds pretty standard for someone who studies pak history

[@AS-sf7hr]

Brilliant Khurram Hussain 🌟🌟🌟🌟🌟🌟🌟Thank you Shehzad 👍💖

[@AbdulBasitAchakzai]

What a great person Khurram Hussain ...He was more honest than being more philosophical

[@BM-ym5ik]

Saw this today. Excellent analysis and history lesson by Khurram. All students in schools should listen to this. All true. I grew up in early 60s and remember travelling back to Calcutta to meet my grandmother, easily! But we couldn't visit our other relatives in hyderabad ir bombay!. Then growing up in East Pakistan I saw the discrimination against bengalis. I can safely now say the punjabi mindset against bengalis and other minorities destroyed the Pakistan Quaid wanted to create. A shia. Where shias are now persecuted. No wonder I feel strongky Pakistan was an error, it divided families and created a super rich punjabi army exclusive elitist club!

[@peacelover2002]

I feel Shahzad to be a very talented youngester. He has very good oratorial skills and very good knowledge. Keep up your good work, Shahzad!!! You are very different and more interesting from other Podcasts coming out of pakistan that I have heard. This is coming from an Indian American, BTW.

[@peacelover2002]

@@ThePakistanExperience Keep up the good work, brother!!!

[@peacelover2002]

@Ex-Muslim Khan - IIT Bombay When i have a universe size knowledge to learn from holy Bhagavad Gita and have a travel a long way to master it, then why should I search for other sources?

[@arunsar7893]

Accurate. What other Pakistani Podcasts do you listen to?

[@Socio-Perspective]

@@arunsar7893 Mooroo is nice

[@arunsar7893]

@@Socio-Perspective Will check it out. Thanks.

[@shekharjuvekar7248]

Khurram Hussain spoke with such a crystal clear clarity of thoughts, articulation and a matter of fact attitude that I was cleared of so many misconceptions about Pakistan. Specially his thoughts on Ayub Khan regime, impact of F16 deals (I thought it was a military aid) on Pakistan's economy and IMF loan in 1987 were eye opener. Shehjad conducted the interview brilliantly.

[@arsalkassana3360]

Never listened to the whole podcast ever before. A great conversation to listen to.

[@ThePakistanExperience]

🙌

[@blazingsun8862]

This conversation is illuminating.

[@josephcleetus2075]

Conscience prevails... May God Bless those who has the will and courage to express it🙏

[@kareemkhka]

Thanks to TPE team .. please bring this guy for 2 more podcasts .. second episode should be for the remaining 30-40 years and third one should be about what's the way forward ?

[@amandeepsangha2308]

This to me is your best episode so far on your channel. Very precise, to the point, no hold back but backed with data and credibility

[@Padosidesi2828]

Always impressed by Khurram Hussein’s analysis and the breadth of knowledge he has regarding the political economy of the world.

[@hanzofunai4238]

Khurram Hussain is articulate, erudite and informed, Lots of respect from India. Typically, one observes that a Pakistani analyst has world view shaped by prejudices and narratives, Thier analysis are also oversimplified dumbed down versions missing out on the nuances or context. Khurram Hussain redeems the typical Pakistani analyst by his intellectual integrity, More power to you and lots of respect from across the border. Shahzad , you are doing a fab job. A brilliant foil to your guests and getting the best of them.

[@prashant231991]

Ye ek bahut achhi podcast maza aa gya.. by the way i am your big fan from the start...🙏🙏

[@prashant231991]

@@ThePakistanExperience happy deepawali bhai.🙏🙏

[@AnkitSingh-up2zr]

Regular watcher of your show. Always so interesting discussion here. And this episode was so interesting as usual. Keep the good work up.

[@aparna19kabiraj]

"yeh hum kya Kar rahe Hain is mulk mein ? " Being and Indian, this is a question that we ask ourselves about certain things going on in our backyard as well. And I think there is hope for democracy to remain in till such questions are being allowed to ask. I am in no position to comment about Pakistani economics / politics because we never had any exposure to anything Pakistani except the wonderful TV soaps and of course the K issue ( with not so wonderful superlatives attached) . The reason such podcasts should keep happening is to show the world and your neighbours that there is also an intellectual discussion on real issues happening right now and that a new generation of Pakistanis are leading the game. So much maturity in the way everybody talks ( this and other episodes). Keep up the good work. You must have a great following around the world, from people belonging to the subcontinent.

[@haroon420]

This podcast episode was more fascinating than even the Miftah podcast.

[@fatimariaz5432]

Great one Shehzad! Khurram has to be invited again for at least 2 more podcasts

[@TariqMehmood-nz6jp]

Loved it. Very well explained. Hats off to you both.

[@Anonymous_1290-k8h]

Great guest. Please bring khurram sb. back on the podcast

[@rehanahmed1088]

Interesting podcast.. waiting for the next part .. keep it up shehzad ..

[@sridharsm366]

Impressive discussion, a lot of other history I am learning.

[@Metalfreak327]

This was nothing short of awesome. Amazing. Thank you Khuram and Shehzad.

[@DiscussionBegins]

I'm delighted to spend my 2 hours listening to you both! Kudos

[@mithsindia5150]

very learned person. dont understand much about pak economy,but he explains well. Shehzad you are helping students of ur country who have to give entrance exams, history is much easy to learn by conversation than reading boring white notes😊

[@ilmahussain4336]

One of your best episodes! Also shared it with my dad, he loved it too.

[@anambutt8127]

Zabardast , 2 baar suni hai, aik baar aur sunun gi abhi.

[@mirahkhalid7791]

Best 2 hours of my current year on KZbin ❤️❤️

[@vlarvind6513]

Take a bow sir 🙇🏻‍♂️ , fast becoming one of my fav podcasts 😊

[@alokranjan5410]

Loved it.....lots of love and happy diwali shehzad Bhai

[@nafyachakzai7359]

Thanks bro for inviting such an intellectual personality. It is really very informative and interesting episode.

[@daniyalkamran4965]

What an insightful podcast that was, please keep doing podcast like these moree shahzad bhaii… 💯

[@rabiashafi6500]

Thanks khurram Hussain sahib...u cleared lots of concepts

[@ahmedhussankh3546]

What a great lesson in history. Khurram is a gem. You should have at least a podcast a week or two like this. Please invite more economic historians. Also invite futuristic economists like atif. Well done my Jiyala bhai (I am a PTI fan btw)

[@wanibaloch241]

Thank you Shahzad Thank you Khurrum Hussan my favourites. From Balochistan. ❤

[@saadharanakkaran]

Great intellectual conversation .. great clarity on historical events and how it effects the present .. Excellent..👌👌👏👏👏👏

[@sohailosmanali6499]

Very interesting open, frank pod cast with Khurram Hussain who is admirably a no nonsense man. Thank you for this,Shahzad. Please get him back to discuss 1987 onwards.

[@munnancs]

What an interview!

[@santhanakrishnanindhumathy4514]

He's so knowledgeable. Good onya Mr Hussain. Thanks for this podcast bud. Cheers.

[@asadgondal9660]

Only 1 hr through and my mind is actually blown. Thank God I discovered you on Twitter and got to watch this. I am inclined towards PTI but I try to make sense of and find the rationale for all sides. This podcast (so far) has already inspired me to dig deeper into economics and how power and money works. The contrast between what actually happened and what I was taught in school about the Golden Era of Ayub Khan and the Independence of Bangladesh is extremely stark. History can never be changed - no matter if you rewrite and teach absolute lies to the younger generation. I see many people saying many things about you on twitter but keep it up. You are doing an amazing job. Thanks for this. Continuing watching now. Couldnt help write this comment in middle of the podcast.

[@ranjitneelakandan9551]

Shehzad ...your recent podcasts have been top class.Well informed and you seem to know how exactly to engage your hosts. Khurram saab is as usual phenomenal. I have observed that he says "hoyaga" instead of "hoga" like in "esa hoyaga" instead of "esa hoga" not sure if this is a karachi thing.

[@ghazanfarali2538]

Khurram sb and Shahzad Ghias Sh brilliant, worth watching, great job both of you

[@zainisb]

Loved every bit every second of the podcast. A completely paid content that must be something at Hopin with $100 per participation. (per halat achhe nhi so keep it free). Economy is one of the most difficult subjects and Mr Khurram has put it very very simply. Thank you Shahzad.

[@ayeshafareedsyed8560]

Great man. Interesting discussion.

[@hassantech-travel]

Great job!. Great host and guest

[@sau002]

Wonderful. I like the words at 13:10, ""reading the present into the past, "...the relationship between the present and the past is a very tense one.... and that is why history keeps getting re-written ......"

[@drsubashn4025]

One of my very favourite writers. I wait for his article in Dawn every Thursday.

[@fahd6757]

Please Bring Khurram back for 87-23

[@adeelakif814]

a great one , that's what we needed, i learned a lot things, KH my fvrt economist,,

[@Zubair-Khan]

when British Empire conquered Sindh they made Sindhi Language Mandatory for Britain officers and current Alphabet of Sindhi actually made by British language scholar to teach these officers. They didn't do this in Punjab or KP .. this was a clear predecessor example for our elders but they bypass that and we lost Bangladesh and still we have Sindhi and Urdu controversy in Sindh. My thinking is that our founder were actually not political minds they were just made leaders to rule Pakistan, While India was Lucky they have brilliant political Minds when India got independence

[@mtnbutt5151]

Always eager to listen Khurram Hussain Sb

[@MadhanNaran]

I don't understand much Urdu, but I am impressed with net worth of the content of this discussion and what I can understand. It is so interesting open and relevant. Thank You

[@fanthony]

Khurram Hussain is gifted. Enjoyed this and learned so much. He is very much in the mould of India’s intellectual giants in the last 30 years. No fake ass, wannabe posh accent like many of Pakistan’s older elites (looking at you, Bilawal), and not biased and brainwashed and idiotic like many of the more Islamist/nationalistic Pakistani commentators. This man would be someone really important in India. Tragic that Pakistan isn’t able to do more with someone of his exceptional talents.

[@ThePakistanExperience]

Part 2 with him goes up tomorrow

[@TheDoc4kids]

Cogent, dispassionate, erudite, scholarly analysis ! Bravo !

[@randmht9976]

Finished the Podcast. What a great great Podcast.

[@usmanmuhammad5061]

Your interviews are amazing and rhe people you call on your channel are amazing as well. Very good work 👍😁

[@usmanmuhammad5061]

@@ThePakistanExperience Please do bring 2nd part of this soon😁

[@shyamk4257]

Very informative thanks for sharing..

[@emadkhan7372]

thanks for the insights, great show 👍

[@yammanmansuri7845]

Great going!! Another jewel added to your crown. ♥️💎👑

[@slick95112]

Great work and keep it up

[@faryalyounus284]

Enlightening session, kudos!

[@captsudarshan]

Thanks. Learnt a lot and enjoyed.

[@mahnoorzia174]

Bundle of thanks Sir.. for your podcasts... Kindly do make short videos on how economy of a country works , how stock exchange works , how there is rise and fall in price of dollar and it's impacts countries . .. etc Thanks in advance. More powers to you...

[@usamazafar7387]

Great show.

[@haiderkhan8542]

Best podcast ever! HANDS DOWN

[@ThePakistanExperience]

🙌

[@muhammadusamakhan2897]

What an absolute pleasure to listen to this

[@bhaaratsharma6023]

What a brilliant and insightful podcast. Shahzad you are are my favorite pakistani podcaster. I really admire your deep knowledge about various topics. Kudos from India. Keep up the good work. Please call Hussain saab again

[@YasirandJawad]

Great discussion 🙌

[@mehbooburrehman]

Keep up the good work. Need more economists on the podcast.

[@SuperZain121]

This is the only Pakistani podcast channel that I admire.

[@SuperZain121]

@@ThePakistanExperience actually, Thank you for making such an amazing authentic and useful content.

[@taimurjamil3123]

Brilliant historical perspective

[@ghazanfarali2538]

And Shahzad in a time when we are beset by mediocrity and absolute nonsense you are doing a great service to this country and its citizens, bringing out the true history which we have always tried to hide and cover, our youth should know it and now when you are doing the superb effort of unearthing it youth will see and listen and learn our true reality and that’s the path to finding our true identity, plz keep up the good work, lots of prayers for you

[@mohanvirick2600]

What a informative talk