The Shias of Pakistan are the world's second largest Shia community after that of Iran, but comprise only 10-15 per cent of Pakistan's population. In recent decades Sunni extremists have increasingly targeted them with hate propaganda and terrorism, yet paradoxically Shias have always been fully integrated into all sections of political, professional and social life without suffering any discrimination. In mainstream politics, the Shia- Sunni divide has never been an issue in Pakistan. Shia politicians in Pakistan have usually downplayed their religious beliefs, but there have always been individuals and groups who emphasised their Shia identity, and who zealously campaigned for equal rights for the Shias wherever and whenever they perceived these to be threatened. Shia 'ulama' have been at the forefront of communal activism in Pakistan since 1949, but Shia laymen also participated in such organisations, as they had in pre-partition India. Based mainly on Urdu sources, Rieck's book examines, first, the history of Pakistan's Shias, including their communal organisations, the growth of the Shia 'ulama' class, of religious schools and rivalry between "orthodox" "ulama" and popular preachers; second, the outcome of lobbying of successive Pakistan governments by Shia organisations; and third, the Shia-Sunni conflict, which is increasingly virulent due to the state's failure to combat Sunni extremism.

The shocking true story of a brutal kidnapping high in the mountains of Kashmir that marked the beginning of modern terrorism.

The Annual Report to the Board of Governors reviews the IMF's activities, policies, and organization, as well as the world economy, with emphasis on balance of payments problems, international and emerging capital markets, fiscal considerations in policymaking, data issues, and the debt situation. As part of the IMF's ongoing efforts to improve transparency in its operations, the 1996 Report continues the expanded coverage of economic developments in selected countries and gives details about policy objectives in member countries using Fund resources. The 1996 Report also provides information on the IMF's new data dissemination standard. Appendices include a report on international reserves, details of the IMF's financial operations, major decisions taken by the Executive Board during the year, communiques of the Interim and Development Committees, a list of Executive Directors and their voting power, capital and administrative budgets and information on staffing, and audited financial statements of all IMF accounts and facilites. Published in September.

Professor Das provides a fascinating study on the issue of ethnic politics in multi-ethnic Third World countries and the non-convergence of state and nation in this discussion of the Kashmir and Sindh questions. The artificial de-colonization process in the South Asian sub-continent resulted in the construction of national frontiers for its two successor states that did not rest on a synchronization of ethnic and state boundaries. Consequently, cross-border loyalties amongst significant sections of the population survived the boundaries imposed between the two successor states. When in the context of centralizing nation-building strategies ethnic political assertions occur in outlying or frontier areas of these nation-states, the distinction between domestic and external affairs, or between home and foreign politics, tends to lose its significance in the traditional sense. Political actors from across the borders of neighbouring state can then deny the marks of their different objective nationalities and treat themselves as members of a single 'loyalty group'. Thus, ethnic politics transcends its domestic contours and helps foment regional tensions. In such circumstances, ethnic assertions tend to constitute vital local or domestic ingredients that define the national security priorities within a particular region. The current insurrection in Kashmir and turmoil in Sindh superbly demonstrate this pattern.

The report reviews lessons from the International Finance Corporation's (IFC) investment, and advisory experience in the developing world, which show the interactions between policy frameworks, and the volume and structure of foreign direct investments (FDI). Case studies show how the Corporation promotes successful project structures, and regulatory changes, as it tries to attain the strongest development impact for investments. In developing countries, FDI has flowed mainly into manufacturing, and processing industries. In the past, investment attractiveness had been closely linked to possession of natural resources, or a large domestic market, while production and trade globalization, competitiveness as a location for investment, and exporting, have become the main determinants of attractiveness. Sources of FDI in the past, came almost exclusively from industrial countries, though recently those sources have widened, emerging from developing countries in their own right, and for their own regions. IFC, as an international initiative to promote FDI in developing countries, is liable to promote bilateral trade agreements, bilateral and multilateral financial institutions, and investment promotion programs; its advisory role may vary from diagnostic studies overviewing constraints to FDI, to investment policy studies giving specific solutions on either changes, or strategies. The study further looks at how policy environment is set, and at finding investor opportunities, through project financing, largely structured as joint ventures. The inherent, fragile nature of joint ventures, restricts foreign ownership, thus limiting project structures; however, careful project design has lead to successful operations, by ensuring management, and financial arrangements. Still, to maximize benefits, an unfinished agenda of policy reform remains, and, as more countries open to FDI, this integration will lead to an overall increase in FDI flows.

In May 1998, in reaction to India’s nuclear weapons tests, Pakistan tested six nuclear weapons. Following this, the country opted for a policy of minimum deterrence, and within a year Pakistan had altered its policy stance by adding the modifier of minimum ‘credible’ deterrence. This book looks at how this seemingly innocuous shift seriously impacted on Pakistan’s nuclear policy direction and whether the concept of minimum has lost its significance in the South Asian region’s changed/changing strategic environment. After providing a brief historical background exploring why and how Pakistan carried out the nuclear development program, the book questions why Pakistan could not sustain the minimum deterrence that it had conceptualized in the immediate aftermath of the 1998 test. It examines the conceptual theoretical framework of the essentials of minimum deterrence in order to question whether Pakistan’s nuclear policy remained consistent with this, as well as to discover the rudimentary factors that are responsible for the inconsistencies with regard to minimum deterrence conceived in this study. The book goes on to look at the policy options that Pakistan had after acquiring the nuclear capability, and what the rationale was for selecting minimum deterrence. The book not only highlights Pakistan deterrent force building, but also analyzes closely Pakistan’s doctrinal posture of first use option. Furthermore, it examines the policy towards arms control and disarmament, and discusses whether these individual policy orientations are consistent with the minimum deterrence. Conceptually providing a deeper understanding of Pakistan’s post-1998 nuclear policy, this book critically examines whether the minimum deterrence conceived could be sustained both at the theoretical and operational levels. It will be a useful contribution in the field of Nuclear Policy, Security Studies, Asian Politics, Proliferation/Non-Proliferation Studies, and Peace Studies. This book will be of interest to policy makers, scholars, and students of nuclear policy, nuclear proliferation and arms control related research.