In this exclusive interview with Exclusive Waves Podcast, President of the Bank of Punjab and Chairman of OGDCL, Mr. Zafar Masud sites down with Exclusive Waves host Sohail Iqbal Bhatti and Syed Khalid Mustafa to dissect the future of Pakistan’s economy. Zafar Masud interview addresses the “lazy banking” myth, revealing how the industry is pivoting toward SMEs and agriculture with a $25 billion plan, while also sharing the inside story behind OGDCL’s historic profits and the RekoDiq Breakthrough. This conversation provides a rare look into the strategic leadership driving Pakistan’s financial and energy sectors forward.
Summary of Zafar Masud Interview
The economic landscape of Pakistan is currently undergoing a monumental shift driven by strategic leadership and a focus on structural reforms within the financial sector. At the heart of this transformation is Zafar Masud, a seasoned banker and leader who currently serves as the President of the Bank of Punjab and Chairman of the Pakistan Banks Association.
During a recent appearance on the Exclusive Waves podcast with Sohail Iqbal Bhatti, Masud detailed the intricate changes taking place in the banking industry. He addressed the common perception that banks only focus on safe government investments while ignoring the needs of the private sector and small businesses.
Masud provided compelling evidence to the contrary, noting that private sector financing has seen a remarkable increase of over 1.5 trillion PKR in a relatively short period. This surge indicates a renewed confidence in the industrial and commercial sectors of the country despite broader economic challenges.
The focus on Small and Medium Enterprises has been a cornerstone of Masud’s strategy at both the Bank of Punjab and within the broader banking association framework. SME lending has nearly doubled, moving from five hundred million to nine hundred million PKR, which has significantly empowered local entrepreneurs.
The number of SME borrowers has now reached approximately three hundred thousand, a testament to the success of targeted financial inclusion policies. This growth is essential for creating a sustainable middle class and ensuring that the benefits of economic growth are distributed across different layers of society.
Agriculture, another vital pillar of the Pakistani economy, has also seen a positive reversal in trends under this new financial paradigm. After a period of decline where the number of farmer borrowers dropped to 2.7 million, the numbers have once again climbed back to over three million.
This recovery is particularly significant as it demonstrates a commitment to the rural economy and food security. By reducing the average loan size and increasing the number of individual borrowers, the banking sector is ensuring that credit reaches those who need it most.
Beyond the traditional banking realm, Zafar Masud’s influence extends into the energy and minerals sector through his chairmanship at OGDCL. He highlighted RekoDiq Breakthrough—the massive potential of the Reko Diq project, which stands as a breakthrough for Pakistan’s international investment profile.
The success of OGDCL in the exploration and production sector serves as a model for other state-owned enterprises. Masud emphasized that through professional management and a clear vision, these organizations can become engines of national growth rather than burdens on the treasury.
The conversation also touched upon the future of digital currency and the role of technology in reshaping how Pakistanis interact with money. While the traditional banking model remains strong, the integration of fintech is seen as an inevitable and welcome step toward greater transparency and efficiency.
Masud remains a vocal advocate for the youth of Pakistan, encouraging them to look toward these emerging sectors for career opportunities. He believes that the combination of mineral wealth and a modernized financial system will provide the “ray of hope” the country needs to overcome current hardships.
The leadership displayed by figures like Masud is crucial in navigating the complexities of global finance and local economic pressures. His dual role in banking and energy allows for a unique synergy that benefits the overall macroeconomic stability of the nation.
Throughout the interview, it was clear that the goal is not just short-term profit but long-term institutional building. By fostering an environment where SMEs and farmers can thrive, the banking sector is laying the groundwork for a more resilient and inclusive Pakistani economy.
As the $25 billion transformation continues to unfold, the metrics of success will be measured by the prosperity of the common citizen. Masud’s commitment to transparency and data-driven results provides a clear roadmap for the future of Pakistan’s financial and industrial sectors.
See also: Mr. Zafar Masud on Pakistan’s economic recovery roadmap with Dunya Kamran Khan Kay Sath
Ultimately, the message is one of cautious optimism, suggesting that with the right people in the right places, Pakistan can turn its challenges into opportunities. The ongoing projects in mining and energy, supported by a robust banking backbone, signify a new era of development for the nation.