Roshan Digital Accounts to be converted to Digital Bank Accounts.. Makes you think, local banks barely have their services digitally enabled for the clients whose deposit baSes results in their profits, but it's clearly more imp to have digital accounts for NRPS. (Let it sink in)
Similarly give them cars at cheaper bank rates and not only that, enable them to stop using hundi to send funds back.… . The Hon SAPM said it not me. So the problem is in-bound hundi:) Boggles the mind how far and wide this circus has gone.
What about those in corridors of power & patrons of influence who have been using hundi to wire money out of the country?Basically if they decide to bring that cash back, it gets legal protection, cheaper interest rates, faster car delivery and a special place in the SAPMs heart.
I wonder how these items are thought through. Sure, in the short term you have a billion dollars that came back allegedly. Great, but what about long term impact, you are continuing to give a safe passage to the very problem that led you to needing inbound FX to shore up reserves
Where are the structural reforms on wire transfers, money laundering, connecting bank accounts of the feudals and those who have been largely exempt from taxes, doing an at scale analysis of living beyond means aka source of income being lower than expenses.Its very easy to track
But wait, we are busy giving the same folks free joy rides in their cheaper, "ON" free cars. I would like to celebrate the inbound money, but since those who live in Pakistan and pay taxes are children of a lesser god, I cant bring myself to celebrate this just yet.
Seems like we have become tone deaf.… When the write-ups tout the fact, less waiting, less bank charges, is the govt not accepting its own failure in not being able to regulate the car-cartel and mafia,?Where in the world does one have to wait to get a car?
Govt theatrics are just that, every day some new announcement to counter some thing else whose underlying premise we are unwilling or un able to regulate. We continue to package manufactured ideas vs moving towards structural reforms. Focus on real tech exports, focus on r&d
attract true foreign companies and not those owned by friends and family with western names to come and invest in Pakistan. Grant them the legal protection, do true investor road shows, pair domestic, strategically important companies in the pvt sector with others globally.
Talking will not get out of the governance hole created over 70 yrs, nor will it get us out of the complete lack of industrial infrastructure to compete at a global level,in select areas maybe,but what we need to leapfrog into is Tech Enabled Verticals & strengthen inward looking
economic growth that results in job creation, empowerment and structural changes that have a generational impact vs trying to only influence and impact arguably those who left & are already doing better than their peer groups. Here is a wild idea...
Instead of making committees the govt should do A&B testing of all these schemes & ideas they are coming up with to better understand the long term outcomes. Heres to hoping that common sense prevails
& the govt starts to focus on true reform to get us out of the shackles of tyranny the rent seekers within parliament have put us in. Nothing will change till the personal interests of 342 people in Parliament are not aligned with the interests of 200M people.Simple yet not easy.

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More from @faizansiddiqi

5 May
The best way to manage political un reset is to make sure that political parties conduct annual elections and family at large can't be at the helm for more than a year. Interesting yet is the fact that the self proclaimed educated party members continue to rally and support
Dynastic politics. Nothing has been more responsible for the regression of the nation more than this singular unfortunate two party system for decades & now the suffering will continue for the awaam at the hands of the kids of the same leeches who have economically done us in
More fascinating is the support and endorsement 60+ yr old party members continue to give pea brained harbingers of the next generation. No better self serving insurance scheme than in Pakistan where the people pay the premium of the destruction these charlatans bring.
Read 21 tweets
4 May
Small business funding + business training on running a micro enterprise for young entrepreneurs esp women needs to be thought through as a tool for empowerment, economic growth and finial inclusion. How so? We need to power other people's ability to fail and make failure safe.
So if you are a no-body with some money in the tank, this is how you help break this circle of life by funding young fe(male) entrepreneurs in this country at a low low entry price sans daddy dollars. The concept is simple, you need to enable others to build either your idea,
a shared idea or their idea, but with the catch that they deploy the MVP or business in under 60 days. It could be as simple as funding some ones inventory or as complex as a Monetization idea for m-commerce.
Read 15 tweets
4 Apr
There is a real opportunity lurking in a host of govt entities. My current fav is the Utility Stores Corp of Pakistan. Some stats below around their makeup.
Interestingly enough their biz model is to use your and my tax rupees and subsidize products. Clearly can't expect govt to figure out a sustainable biz model. But I digress. What caught my attention was this news story.…
So this story came out in March and by July the utility stores corp will be digitized. I mean I'm all for it but who are the miracle workers who will usher us down this path. We'll your friendly PTCL yup u read that right. A company they can't get its own house in order.
Read 10 tweets
3 Apr
Offline distribution eats digital distribution for lunch in PK. The real oppty is infra and investments in bridging the offline to online gap. We arent ready for digital first only products for the mass market, what wins in the end has to be hybrid..
Because u can't service offline ppl in an online channel only. We continue to build products like lending, digital banking etc these aren't for the masses we are modeling at best the urban or semi urban poor from our ivory towers.Thinking what service they want or need. Bad idea.
Delivery not just ecom related but last and middle mile is key. Supply chains are broken but they don't need to be. If u are some one sitting on cash instead of real estate invest in logistics even if it's two guys and a truck. Idea is to deploy it in the right market.
Read 12 tweets
10 Feb
Our univ & startup curriculum are broken. Most treat education like buying vegetables so long as u generally do ok no one will worry about the specifics. Visiting faculty is akin to educational malpractice(see this nugget floating around that got fwded) some one with 3yrs of exp
Teaching others their craft. The odds of that skill existing and then transferring is as low as u getting diabetes from watching some one else eat a cake. Worse is when these visiting clowns teach u entrepreneurship or courses on startups. Given u saw their own intake is corp exp
Here's what they don't teach u in school & after meeting 100s of founders if not more n working with them, I wish they did teach. If you are willing to invest 4 mins of ur time vs 4yrs to give this a quick read u may walk away better informed. No guarantees but it's worth a shot
Read 18 tweets
8 Feb
The Punjab government has been working to establishing an insurance company following the good performance of the insurance sector. Can't make this stuff up. What's next vaccine production? Or Education? They've already done tech in prev govt.…
Instead of working on streamlining regulation and promoting enforcement to support the growth of the sector the govt decides to use our tax payer money to compete with private enterprises in a highly regulated space where it makes the laws. Yes u read that right. Epic stupidity.
By this count soon nothing will be left in the fee enterprise space. Between having provincial govts having banks & formerly the Punjab govt competing with startups by copying their ideas and launching its own startups & building software vs buying locally we have witnessed all.
Read 11 tweets

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