Pakistonomy

We talk about the role access to the internet can play in transforming Pakistan’s economy, promote inclusion, and really empower those who are on the periphery of Pakistan’s political economy. The Universal Service Fund (USF) has been doing some phenomenal work on this topic, and Haaris Mahmood Chaudhry, who currently serves as Chief Executive Officer (CEO) of USF, joins us to share what his organization is up to to promote access to the internet. Haaris has over 20 years of global experience in the private and public sector, with a particular focus in telecoms and finance. You should also follow USF on Twitter @USF_Pak. Chapters: 0:00 Introduction 1:30 USF’s mandate and mission 10:20 Scaling internet infrastructure in Pakistan 15:30 Barriers to access in the ecosystem 22:30 Scaling pilot projects 28:10 Impact of access to internet

In this episode, Uzair talks to Dr. Aaron L. Jackson about the collapse of Silicon Valley Bank and the strains we are seeing in the US banking sector. We also talk about rising rates, why the Fed is being so aggressive, and the outlook for inflation and the US economy. Aaron L. Jackson is the Senior Associate Dean of Business, and Professor of Economics at Bentley University, where he has also served as Chair of the Economics department. Aaron’s academic interests in teaching and research focus on macroeconomics and monetary policy. He has publications in a number of journals including Applied Economics, the Journal of Macroeconomics, Economic Inquiry, Review of World Economics, and Macroeconomic Dynamics, among others. Aaron has periodically provided expert commentary on monetary policy and the macroeconomy to various media both locally and nationally. Chapters: 0:00 Introduction 2:00 The financial crisis and its implications 15:00 Inflation and asset prices 21:32 Inflationary pressures and higher rates 37:00 SVB’s collapse and bank runs 49:15 Conclusion

Uzair talks to Usama Nini, co-founder of Qureos, a startup changing how people connect, learn and work. The team is on a mission to accelerate 100 million careers by matching talent to mentors, projects and job opportunities. In this episode, we talk about Usama’s own journey, what Qureos is looking to do, and how technology is helping reduce friction in the jobs market. Chapters: 0:00 Introduction 1:30 Mission and vision 18:30 Growth and investment goals 24:20 What should people focus on early in their careers? 39:15 Reading recommendations

In this episode, we talk about Pakistan’s debt problems, how much it needs to repay in the near future, and whether the country needs debt restructuring. We also talk about some of the ways in which debt management needs to improve in the country. Joining me for this conversation is Uzair Aqeel, who has 15+ years of experience in international debt markets, including structured credit and distressed debt. He was previously at Deutsche Bank in London, where he was global head of distribution for complex emerging market products, overseeing the firm’s largest institutional client relationships. His team raised billions of dollars in debt for emerging market borrowers, including stressed sovereigns like Ukraine, Egypt and Argentina. He is now the managing partner of Nairang Capital, a private markets investor focused on emerging & frontier markets. Chapters: 0:00 Introduction 1:45 What are Pakistan’s debt repayment obligations? 9:25 Does Pakistan need debt restructuring? 27:30 Why is debt restructuring not a panacea? 36:00 How do improve debt management?

In this episode, Uzair talks to Gonzalo Varela about the World Bank’s most recent report on Pakistan’s economy and its key findings. We talk about how distortions caused by tax policy, inefficient pricing of inputs and products, and curbs on imports are stagnating growth in the country. We also talk about the benefits of improving the economic inclusion of women in the country and its near- and long-term consequences on the broader political economy. Finally, we also lay out the sequence of key reforms that must be considered by a government to rebuild from the ongoing crisis. Chapters: 0:00 Introduction 1:55 Key findings from the report 17:50 Distortions in the wheat market 27:45 Sovereign’s borrowing and impact on investment 43:10 Women’s role in economic growth 51:00 Sequence and nature of reforms You can read the full World Bank report here - https://documents1.worldbank.org/curated/en/099820410112267354/pdf/P1749040fc80a70ca0b6f70f7860c4a1034.pdf

In this episode, Uzair talks to Abdul Moiz Jaferii about the ongoing hearings in the Supreme Court, which has intervened to ensure that elections are held as per the constitution. We talked about the process that led to the hearings in the Supreme Court, the split in the bench, and the medium-term outlook for the superior judiciary. Abdul Moiz Jaferii is a lawyer and tweets @jaferii. Chapters: 0:00 Introduction 1:45 Why did the courts intervene for elections? 19:20 What happens if the government does not comply? 25:30 Split in the superior judiciary 36:10 Reko diq case and its end

In this episode, Uzair talks to Dr. Erum Sattar about the Indus Waters Treaty, its history, and India's notice to amend the agreement. We dive deep into some of the capacity constraints on the Pakistani side and why we should be paying attention to ongoing events related to the treaty. Dr.Erum Sattar is the Former Program Director of the Sustainable Water Management Program and a Lecturer at the Friedman School of Nutrition Science and Policy, Tufts University.

We take a step back from the coverage of the economic crisis and ongoing negotiation and focus on emerging businesses that are the future of the economy, In this episode, Uzair talks to Omer Khan, founder and CEO of PostEx, Pakistan’s largest e-commerce service provider. PostEx is offering easy access to capital with embedded logistics and Uzair and Omer talk about the company’s vision, what it takes to solve for issues faced by small businesses, and how young adults can succeed at startups and founding their own businesses. Chapters: 0:00 Introduction 1:20 What is PostEx? 10:45 Credit, trust, and small business 22:30 Formalizing and digitizing payments 29:30 Why cash is king? 35:30 Failing and entrepreneurship 39:50 Where is the startup ecosystem headed?

In this episode, Uzair talks to Ali Khizar about the ongoing negotiations with the IMF, the path forward, and why consensus is needed to rescue the economy. We also talk about debt restructuring, why the last few months have destroyed Pakistan’s credibility, and the broader challenges confronting the economy even after an IMF program is put back on track. Ali Khizar is a business journalist who frequently writes for Business Recorder. Chapters: 0:00 Introduction 0:45 Why did the IMF deal did not happen? 24:00 Debt restructuring needs 34:30 Political crisis and economic stability

In this episode, Uzair talks to Khurram Husain about the latest economic developments in Pakistan, focusing on the ongoing negotiations with the IMF. We also talk about why this time feels different, with not a whole lot of optimism for the economy and its future. Chapters: 0:00 Introduction 0:55 IMF negotiations 21:35 Can the economy stabilize even with the IMF? 27:30 The role of the central bank 34:00 Why this crisis is different