Zafar Masud on Reducing Cash in Circulation with Uzair Younus of Pakistonomy

Mr. Zafar Masud talks about reducing cash in circulation in Pakistan

Zafar Masud talks about Pakistan’s economy, how to reduce cash in circulation, and why fiscal deficits are the core problem that need resolution. Zafar Masud is an international banker and entrepreneur currently serving as the President and CEO of The Bank of Punjab. Previously, he has been employed at senior positions by multinational banks across Pakistan and abroad.

This podcast video was originally posted on Pakistonomy YouTube Channel

Who is Uzair Younus?

Uzair Younus is a manager at Dhamiri, a strategic innovation firm where he helps clients develop product-society fits and become a genuine force for progress. He also serves as Visiting Senior Policy Analyst for South Asia at the United States Institute of Peace. He was previously a director in the South Asia practice at Albright Stonebridge Group, advising clients on crisis management, market entry, and government relations engagement in the South Asian region.

Uzair frequently writes for Dawn and has been quoted in several publications including Bloomberg and CNBC.


What is Pakistonomy?

Pakistonomy started off as a personal goal of Uzair Younus where he wanted to speak with experts to deepen his understanding of Pakistan’s economy, its challenges, and the opportunities on offer. But very quickly it turned into a podcast where nuanced, in-depth conversations on important topics occurred without the partisan and polarized rancor that is usually seen on mainstream and social media.

The long-term goal of Pakistonomy is to put quality content and conversations out there for a younger generation to absorb and learn from. It’s not just about highlighting issues and their solutions rather enable younger Pakistanis to identify opportunities on offer in Pakistan and innovate. This is only possible by learning from successful people in the country and the hope is that listeners will be empowered to drive change over time.


0:00 Introduction

This video podcast discusses a recent article co-authored by Zafar Masud titled Transitioning Away from a Cash Economy along with topics of debt restructuring, taxes and fiscal deficits.

1:10 Why is cash a problem?

21:50 Demonetization in Pakistan

31:44 Financial inclusion

42:30 Debt restructuring

Default and Restructuring

52:55 Charter of society

We need a ‘Charter of Society’

1:05:13 Reading recommendations

  • If God Was a Banker by Ravi Subramanian
  • Gambling on Development — Why Some Countries Win and Others Lose by Stefan Dercon
  • Time for Socialism — Dispatches from a World on Fire, 2016-2021 by Thomas Piketty
  • The Culture Map — Breaking Through the Invisible Boundaries of Global Business by Erin Meyer
  • In an Uncertain World — Tough Choices from Wall Street to Washington by Robert E. Rubin

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