Mr. Zafar Masud on Geo News Great Debate who is the Chairman of the Banks Association, argued that there are Rs3.5 trillion leakages in tax collection. He suggested that subsidies should be eliminated to improve the economy. He also said that criticism that banks don’t focus on the private sector is right. Banks fund 95% of the fiscal deficit. He argued that tax collection would be easier if the supply chain is digitized.
Zafar Masud with Shahzeb Khanzada on Geo News’ Great Debate show tackled how to fix Pakistan’s economy. They discussed broadening taxes, investing in education and healthcare, and getting banks to lend at lower rates. Learning from other countries and embracing digitization were also mentioned as ways to move forward.
A very insightful discussion of Syed Faraz Anwer with Mr. Zafar Masud, President & CEO Bank of Punjab, focusing on wide ranging economic and fiscal challenges/ reforms, need for augmented tax base and a targeted subsidy model, state of overall financial and female inclusion as well as Islamic banking opportunity and transformation challenges.
Mr. Zafar Masud (President & CEO – The Bank of Punjab)’s interview for Voice of Ruda
Karachi, Pakistan – In a social media post, Mr. Zafar Masud, the President and CEO of Bank of Punjab, offered a glowing recommendation for the book Why Nations Fail by Daron Acemoglu AKA “Why Nations Fail: The Origins of Power, Prosperity, and Poverty” by Daron Acemoglu.
A brilliant article [How to Get Rich in the 21st Century]. A kind of blue-print of what we need to do in the new political set-up. Settled ideas flowing from ‘Washington Consensus’ including free trade and markets certainly needs a relook
A recent analysis of Pakistan’s economic situation written by Nasir Jamal and published in Dawn News discusses the country’s reliance on IMF programs bailouts and the need for domestic reforms. In the article Mr. Nasir quotes Mr. Zafar Masud, president and CEO of the Bank of Punjab, Finance Minister Muhammad Aurangzeb, Aisha Ghaus Pasha, former state minister for finance, Ahmed Kamal, one of the top textile and clothing exporters, and Prime Minister Shehbaz Sharif.
Contrary to the belief that inflationary pressures can be addressed through monetary policy alone, the role of fiscal account policy in managing inflation is being increasingly discussed. Global inflation has remained stubborn, despite unprecedented action by central banks, leading to a debate on the underlying causes of inflation and the effectiveness of conventional tools to tackle it. I believe fiscal policy is the main driver of inflation in Pakistan. Addressing the structural deficits in fiscal policy is critical for inflation to come down.
Mr. Zafar Masud speaks about the new Pakistani currency notes. While speaking on a local TV channel about the newly designed currency notes Mr. Zafar Masud said that there was an alarming increase in complaints of fake notes. To mitigate this and to bring the cash economy in Pakistan under control, the new notes will gradually replace the old notes in a span of two years. Old notes will continue to circulate the market until we acquire the latest technology in currency printing.
Bank of Punjab President and CEO Mr. Zafar Masud, Charts Course for 2024: Navigating Global Winds and Strengthening Pakistan’s Economic Future.
Opportunities and Pakistan’s Path Forward – Zafar Masud (President & CEO – BOP) gave his outlook analysis for 2024, focusing on different facets, including the economy and reforms, etc., which was published in the Dawn.com newspaper.
