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Reducing Cash in Pakistan | Taxes and Fiscal Deficit | Debt Restructuring | Zafar Masud | Ep 176 

Pakistonomy
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In this episode, Uzair talks to Zafar Masud 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.
You can read the co-authored piece on cash economy here - www.dawn.com/news/1779399/com...
Chapters:
0:00 Introduction
1:10 Why is cash a problem?
21:50 Demonetization in Pakistan
31:44 Financial inclusion
42:30 Debt restructuring
52:55 Charter of society
1:05:13 Reading recommendations
Reading recommendations:
- If God was a Banker by Ravi Subramanian
- Gambling on Development by Stefan Dercon
- Time for Socialism by Thomas Piketty
- The Culture Map by Erin Meyer
- In an Uncertain World by Robert Rubin

Опубликовано:

 

2 июн 2024

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Комментарии : 38   
@skonnur
@skonnur 7 месяцев назад
Guest suggested that tax to GDP % in India is around 12% post demonetisation. In fact it is around 17%
@Computerman683
@Computerman683 7 месяцев назад
Zafar sb is an outstanding leader and a sharp economics analyst. His approach and concepts are pragmatic. Should be considered by GoP.
@vardhamanpatil1539
@vardhamanpatil1539 7 месяцев назад
24.11..Your guest is saying that Black economy in India is 45 %.. actually it is Informal economy in India which may be 45% ..Informal economy does not necessarily mean black economy...Infomal economy includes small Primary Sector income...
@hishamhashim7070
@hishamhashim7070 7 месяцев назад
ZBARDAST UZAIR BHAI , YE HOI NA BAT
@aayanmughal
@aayanmughal 7 месяцев назад
Great conversation.
@nalinoza2886
@nalinoza2886 6 месяцев назад
Uzer you are quite intelligent I admire you 👍
@mustajabamjad
@mustajabamjad 2 месяца назад
The conversation was a bit too technical. Would love it if you could do a 10 min video in simplifying Cash's impact on our economy.
@SanjayKumar-fb5xz
@SanjayKumar-fb5xz 6 месяцев назад
It's not black economy, it's informal economy. There is a difference and it's not 45%
@RHRHVL
@RHRHVL 7 месяцев назад
As an ordinary subscriber these recommendations seems to be very common sense and grounded in reality . Hopefully the establishment can listen to these recommendation and look after the country first & not the kleptocracy elite. No country or its people deserves to be snookered and led astray by an elite devoid of reality based on bigotry based religious values.
@muhammadali-pu2wg
@muhammadali-pu2wg 7 месяцев назад
He is the cousin of graet urdu poet Jaun Elia also the survivor of PIA plane crash occured in khi 2020 may
@furqn6897
@furqn6897 5 месяцев назад
Anyone who can profess in laymen terms the relationship of interbank rate with open market rate? and where the black market intrudes in the picture? (I have googled but still i have not apprehended this well)
@AzeemaFaizunnisa
@AzeemaFaizunnisa 7 месяцев назад
Tsundoku is the Japanese word for buying books and not reading.
@RiazKhan-kx8tj
@RiazKhan-kx8tj 7 месяцев назад
Indepth analysis with solutions. Excellent
@GoldmanSachs7
@GoldmanSachs7 7 месяцев назад
Uzair I listen to your podcasts with interest because your views are well researched and even if one disagrees with them, it does nonetheless provide a an alternate POV that can be used to challenge, distill and build deeper understandings. However, on two occasions I was stunned to see your wanting choice of guests invited to your podcast one was that woman from Harvard and the other this character called Zafar Masood…I mean the man is a political animal and a showman with penchant for selfies, irrelevant minutiae and comical lust for buzzwords and esoteric concepts of which he understands diddly squat but loves to mouth them for effect. He has run this blighted bank in to the ground by investing in government paper that has knocked off its capital structure and instead of realising that loss by marking that paper to market he cunningly takes another route by first extending a loan to public sector entities and then asking them to invest those monies in the bank’s equity to offset this flawed investment before the regulator wises up on him…it doesn’t end here by the way, the man owns a hospital that runs in someone else’s name, owns a consultancy that gets projects on quid pro quo basis….this article he professes he go-authored is written entirely by his Chief Economist and knows of economics and finance about as much as one could barely scribble on the back of a matchbox, spends ninety percent of his time in islamabad massaging ego’s and keeping government officials happy in ways I needn’t go in to details of. Half the people commenting under this podcast are Bank of Punjab employees of the sirjee kind…he was talking of India’s demonetisation and adhaar card and I was laughing my head off that he doesn’t even know how demonetisation bombed and why…Finally, remember the agriculture taxation will never be implemented unless there are meaningful land reforms and the complexion of representation within pakistan’s assembly undergoes a sea change…Uzair this man is a fraud masquerading as a banker, and by the way this reference of a banker in Pakistan is also used for someone who wears a tie and suit every morning to receive deposits through the tills or opens your LC’s…Zafar is glorified example of that ilk of people in Pakistan…please be a little more selective in who you invite over
@m.zeeshannabi6254
@m.zeeshannabi6254 7 месяцев назад
Ummm then who should we listen to, just trying to understand what is wrong. Everytime i try to understand something, someone comes up and destroy the perfect picture i created. ( btw you write pretty good. Any writing tips will be appreciable)
@KashifKhursheed-ng1vk
@KashifKhursheed-ng1vk 7 месяцев назад
You have to know by now Elite capture is the sole problem of this society. The masses have been successfully manipulated and no one thinks a solution exists and so they all wait. All solutions always are individualistic. It is a matter of you realizing it and taking control. Be the change you want as we say.
@nalinoza2886
@nalinoza2886 6 месяцев назад
NADRA IS OBSOLETE SYSTEM. UPI IS GAME CHANGER
@srinidhirao1620
@srinidhirao1620 7 месяцев назад
dr. masud makes several mistakes by reading guardian's opinion. india's tax to gdp is 18%. It is the informal un-organized sector which is 45%. 99% of notes returned back doesn't mean they avoided tax. in fact close to 2 trillion rupees of tax were collected after sending notices by tax dept. ever since demonitization, direct tax collection has grown by 28% every year since 2016 and indirect tax collection has also increased due to gst since 2017.
@zafarmasud10
@zafarmasud10 7 месяцев назад
Thankyou for pointing it out, and correcting me on tax to gdp (Pakistan’s is around 10.4% too, and the developed world is well above 30%) and clarifying the fact on informal sector (Pakistan’s 36%). India’s one of the highest in the world. However, both these stats doesn’t make a difference on our ultimate hypotheses on demonetisation in Pakistan, you would appreciate it. Whether the higher tax collection is due to demonetisation or not, jury is out on it, it’s a very subjective point and could be argued either way. Secondly, this is a reality that 99.3% of the notes came back into the system but it can’t all be white money so anecdotes suggest that some sort of whitener was there which was exploited in the system (otherwise, there was no point in doing demonetisation at all); and thirdly, India’s CinC currently stand at 11%, more than where it all started from at 10%, and the economy took a beating of 1.5% on it’s GDP, in the process. Therefore, the end conclusion - that perhaps we need to undertake demonetisation but timing must be picked-up with extreme care (our gdp growth is already severely struggling) and those obvious big pockets of whiteners that contributed more than 50% of the gdp (with merely 15% in bank deposits) must be plugged-in, still stands in case of Pakistan. Please also appreciate it that India did this demonetisation for the third time in 2016 whilst this would be the first time for Pakistan and it must be done more cautiously as the repercussions of this exercise is much more unknown than India’s. Best
@MrAshutoshSamal
@MrAshutoshSamal 7 месяцев назад
@@zafarmasud10 Extremely kind of you to participate in this discussion by replying to a viewer. Says a lot about knowledge making a person humble.
@indmusiclover
@indmusiclover 7 месяцев назад
Excellent podcast n guest. Middle class mindset quote was apt.
@mridulagrawal6687
@mridulagrawal6687 7 месяцев назад
1.5% gdp loss based on an opinion piece in Guardian,black economy number is also ppl's opinion, objectively India's tax to GDP is almost 18% today,not 11
@muhammadali-pu2wg
@muhammadali-pu2wg 7 месяцев назад
U must enlarge ur and ur guest screen so that faces will b bright and clear
@muhammadali-pu2wg
@muhammadali-pu2wg 7 месяцев назад
Also his father Munawwar NAQVI IS A great actor
@Shrimpspiration
@Shrimpspiration 7 месяцев назад
19:33 cutting off essentials is a bad idea, heck even thinking about this is dangerous. Share the data, cutting of essentials is ridiculous.
@vaibhav1069
@vaibhav1069 7 месяцев назад
Zafar Masud jaise loge ke vaje se hi Pakistan ki economy ke L lag rahe hai. Banda khudaka research nai karta kisi India ke critic ka articles padke critical policies pe discussion kar rah hai 😅 lage raho Pakistan 👍🔥😜
@gmajal
@gmajal 7 месяцев назад
Improvement in Agriculture will start showing results in a season only.
@guldukan
@guldukan 7 месяцев назад
Excellent analysis and awesome solution. However let's make Palestine and Kashmir independent and make Jinnah's dream come true by making Pakistan an Islamic state where everyone wears burkha and every men grows dhadi and Pakistan language Arabic
@vijaykumarmane
@vijaykumarmane 7 месяцев назад
Ok, lets make Balochistan and Sindh independent too so that the people can live happily forever
@AlHindMaskeen
@AlHindMaskeen 6 месяцев назад
​@vijaykumarmane relax mate, he's being sarcastic !
@lonewolf6184
@lonewolf6184 7 месяцев назад
Tell this guy to take care of his bank. He is more into other stuff than managing BOP which isn't performing well under his management.
@TanujAbhayKhanna
@TanujAbhayKhanna 7 месяцев назад
pakistan's economic crash is better than a plane crash.
@fawwadshafi9555
@fawwadshafi9555 7 месяцев назад
Indians always obsessing over Pakistan. Fun.😁
@raza.h
@raza.h 7 месяцев назад
Gas ka bill nai dia to mobile cut jaye ga 😂. Youre all a bunch of air conditioned analysts getting paid for regurgitating impractical and useless nonsense. The disconnect from reality is alarming
@ComedyCouplesCraze
@ComedyCouplesCraze 7 месяцев назад
Intellect level of pakistanis can be compared with views on Uzair podcasts. The subject he talks on is not something so called intellects of Pakistan can understand. They stick with Nazir ali and so 😂
@furqn6897
@furqn6897 5 месяцев назад
Anyone who can profess in laymen terms the relationship of interbank rate with open market rate? and where the black market intrudes in the picture? (I have googled but still i have not apprehended this well)
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