Remembering Arshad Zuberi

I joined Business Recorder as Head of Research back in 2009, perceiving the position to be a stepping stone to a potential “better opportunity”. I did, in fact, find that better – in truth – “best opportunity” for growth, recognition and carving a niche for myself in economic journalism all within the same organization.

It is with deep gratitude, respect and fondness that I recall the leadership, vision and strong work ethics of Mr. Arshad A. Zuberi, who sincerely embodied the values that are a hallmark of our esteemed organization.

Thank you, sir, for your guidance and kindness. May your soul rest in peace.

He was a mentor, not just a “boss”. An encyclopedia on the economic and business history of the country, this was his chosen field because of his passion and dedication to the cause.

He carried with fortitude the flame set afire by his esteemed father, having been trained by the latter on the principles and values of economics, as well as journalism, since his student days.

The legacy of becoming the nation’s leading economics daily is steeped in the inherited work ethics and vision of the Senior and Sons- not surprising - since the former was a close associate of the great Quaid.

In my early years at BR, I used to bombard him with naïve questions, due much in part to my lack of experience to which he would patiently respond with not just the reply, but his own experience, and the historic and political context behind the issue, making my learning experience transcendent beyond mere information and knowledge.

Before his health made it difficult – and later – impossible for him to keep up with the office, nearly every Minister of Finance and Governor of State Bank used to seek his guidance on key matters of the economy. Many bank presidents, corporate CEOs and big business owners used to ask for advice in key decisions pertaining to the economy. He used to recommend and facilitate employment at C-level positions in private firms, advisors for government and State Bank. He was the go-to man for finance advisors and others – especially, those who came from abroad – as they needed to be guided about the ground realities and political challenges faced by Pakistan’s forever struggling economy.

Mr. Zuberi was a great mediator and used to settle the taxation and other policy matter issues from his office by becoming a bridge between the government officials and businessmen, between the central bank and banking executives. He was a mover and shaker of Pakistan economic decision-making.

I was fortunate to witness many of these meetings in his presence and am forever grateful for the learning opportunity and wisdom these encounters ingrained in me. He was not only a king maker but an uncrowned king!

He was a big proponent of economic reforms including broadening the taxation base, privatization and corporatization of SOEs and independence of central bank in monetary policy making. He was part of various high leveled committees and advisory councils.

He was instrumental during the period of media independence. However, at the same time he was very much cognizant of the responsibility of the print and electronic media. He was one of the founders of Pakistan Broadcast Association (PBA) and was an active part of All Pakistan Newspaper Society (APNS).

An extremely intelligent and humble person, Mr. Zuberi was a prolific writer and patient listener with a subtle sense of humor. Hanging on the wall in his office on the 5th floor of Recorder House was this sentence: “I am a bit of a bull shitter myself, but you go ahead, as I am listening’.

He was one of the owners of the Business Recorder Group, but he always respected employees and was a great team member with the humble stand most modest attitude. Rubbing shoulders with banks’ CEOs, finance ministers, advisors, and other A-listers did not affect him one bit.

In fact, I used to regularly request him to connect me with these important people for getting their perspective for my articles and he would always pick up the phone and get me an introduction. At times he joked, “Ali, I am not your telephone operator” and then proceeds with the call with his laughing eyes and smiling face.

He was truly a reformer and had a great wish and vision for Pakistan’s economy to thrive and flourish. The man is gone, but his work and words remain alive. I pray that those who matter learn and embody the valuable lessons and advise he has left behind as his legacy and invaluable contribution to the country’s economy.

Copyright Business Recorder, 2024