It is almost six months since we lost Arshad after his prolonged illness. My association with him over last twenty five years reminded me of the memories of his character, intellect as well as his sense of enthusiasm.

When I returned from Washington after a lapse of twenty years to head the State Bank of Pakistan (SBP) in very difficult times post-1998 nuclear test, sanctions by the western powers, freezing of accounts of residents and non-residents, military takeover of the country, rock bottom reserves of only 300 million dollars I felt overwhelmed by the challenges facing us. I was settling down in a new environment but did not have much to fall back on in terms of unbiased professional advice as the entire team and leadership was new.

One day unannounced and without prior notice walks in my office a young man who introduces himself as Arshad Zuberi, Deputy Chief Executive of Business Recorder. He warmly greets me and welcomes me to Pakistan but gives me a mouthful about the problems the country is facing and what the SBP can do about it. I listened very carefully and found his recitation very interesting.

Although I had a........

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