Reza Baqir’s salary and banking woes

We have some serious issues on our mind this week. Legacy banks are trying to keep up with all of the changing fads in the banking industry and there are questions being raised about debt servicing after the announcement of the new IMF program. Ariba Shahid brings you the woes of banking, CEO salaries, and more in this week’s social media roundup. 

 

https://twitter.com/sameerchishty/status/1492353199684169734

Things are heating up. Legacy banks, logistics services, and brick and mortar businesses need to be on their toes considering the rapid pace at which things are going. As Sameer rightly points out, being overtaken may not be that far.

https://twitter.com/MuzzammilAslam3/status/1491645942013259776

The IMF focuses more on the primary balance than the budget balance. The budget deficit and primary deficit are two distinct things. Primary deficit is when the government expenditure excluding debt servicing is more than total government revenue. The primary surplus is essentially used as a message that the country has attained market maturity and does not need to borrow to fully service its debt. However, despite this one has to wonder about how public debt is managed in the long run as it is not limited to the primary deficit. 

 

https://twitter.com/lawyerman_ktk/status/1490741143935590404

Banks in Pakistan need to realize that people already resent walking into a bank. The link being down makes it all the more worse. 

https://twitter.com/kaiserbengali/status/1490867213963718656

There is the inflation that you see in numbers and stats, and there is the inflation you see through lifestyle changes. Hits hard sometimes. 

 

https://twitter.com/Suhail_Shahzad/status/1489090843940118540

Having a pet in today’s world is expensive especially when dog and cat food is primarily imported. Where is the import substitution at? 

 

https://twitter.com/KamranShafi46/status/1490790740456259589

Jumping through hoops just to get some foreign currency only makes it easier for a grey market to operate. Ridiculous requirements do not put off people from getting what they want, instead it makes it incentivizes one to find other means. 

 

https://twitter.com/narejo/status/1492275001462247424

Rs222,422,000 is the yearly compensation the CEO of one of the largest banks received in 2020. The fact is, the salary of an individual should be in line with their experience, credentials, and the position they are settling in at. It makes very little sense for minimal salaries to be glamorized. 

 

https://twitter.com/HighyieldHarry/status/1492211405537300480

The stock market is ruthless. But hey, follow the money. 

https://twitter.com/raza_matin/status/1492165479938801669

It is important to stand up for the little guy. Cutting them off just ruins the whole narrative startups put up. 

https://twitter.com/JeffBooth/status/1491999015755337729

Seeing is believing. And yes, visualizing numbers is important for context, especially when talking about money. 

 

https://twitter.com/UzairYounus/status/1491778453795975168

Gone are the days people keep gold stashed away. Your new inflation hedge is the car you bought in the late 2010s. 

 

https://twitter.com/analystfahad/status/1490547052069236741

The growth in new accounts is slowing down. The SBP, however, has encouraged banks to carry on with marketing activities in order to encourage people to open up accounts. As for NPC, there is a lot that is happeneing behind the screen. 

 

https://twitter.com/gulraizkhan/status/1491436602916507652

There’s a lot to be understood about Raast, this thread explains it well.