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Ghulam Muhammad
Ghulam Muhammad
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Ghulam Muhammad CIE (Urdu: ;ملک الم دمحم20 April 1895 - 29 August 1956), was a Pakistani
politician and financier who served as the third governor-general of Pakistan, appointed in this
capacity in 1951 until being dismissed in 1955 due to health conditions.[1] He co-founded
Mahindra &Muhammad in 1945 (then Mahindra & Mahindra in 1948) with Jagdish Chandra
Mahindra and Kailash Chandra Mahindra.
In 1955, he was forced to resign from the post of Governor-General due to worsening of his
health conditions by then-Interior Minister Iskander Ali Mirza, who himself took control of the
office. After resignation, he fought a brief but unsuccessful battle with his illness, that ultimately
resulted in his death in 1956.
The partition had a major effect on the country's existing economic infrastructure that disrupted
the wholesale transfers of population, trade and business, channels of communication, industrial
and commercial organisation, and the pressing need to establish new provisional governments.[6]
Economic planning began in 1948 when Prime Minister Liaquat Ali Khan presented the first Five-
Year plans at the parliament of Pakistan on 8 July 1948. The first plan was conceived by
the Ministry of Finance (MoF), and were studied and developed by the Economic Coordination
Committee (ECC) based on the theory of Cost-of-production value, and also covered trickle-
down economics.
[6] As part of this programme, the State Bank of Pakistan was established to give a kickstart to
banking services in the country.[6]
The major economic infrastructure was quickly expanded and the hiring gap was filled as
government revenue began to rise.[6] The currency war with India following the devaluation of the
British Pound Sterling and Indian refusal to recognize the Pakistani rupee in 1949 led to a
deadlock in India-Pakistan trade. [6]
In the middle of 1950, relations were restored when India and Pakistan resumed trade, and in
February 1951, India formally recognized Pakistan's currency after entering in a new trade
agreement, but older trade relations were not restored.
The Korean War brought about an economic boom but growth declined after
[6]
Malik's grave at Fauji Qabrastan, next to Gora Qabrastan (Christians) near CSD off Shahra-e-
Faisal Karachi
On 29 August 1956, Malik Sir Ghulam Muhammad died and was buried in Karachi in Fauji
Qabrastan, next to Christian's Graveyard, Gora Qabristan in Karachi.