Posts
Moral Economy

Challenge to the ‘moral economy’

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Mr. Zafar Masud (Chairman – Pakistan Banks Association and President & CEO – BOP) and Mr. Sultan Ali Allana (Chairman – HBL) emphasize the importance of the ‘moral economy,’ where societal norms influence economic behavior. Aligning economic practices with ethical standards is essential for improving Pakistan’s socioeconomic landscape.

Mr. Zafar Masud on Geo News Great Debate

Mr. Zafar Masud on Geo News Great Debate Suggest Urgent Steps to Revive Pakistan’s Economy

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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.

Victims of our own narrative

Fix Fiscal Account to Tame Inflation

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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 on New Pakistani Currency Notes

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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.