Mr M A. Zuberi will be missed and remembered for many reasons. Everybody who knew him was impressed by his contributions to economic journalism, his love for and dedication to Pakistan, and his care and compassion for his countrymen. His relentless and brave writing urging the government to put its fiscal house in order and his early warning signals about mounting problems in the banking system provide a glaring proof of his remarkable insight into the deep-rooted fiscal, monetary and banking situation that Pakistan currently faces.
During my tenure as Governor State Bank of Pakistan (SBP), I interacted with him regularly and benefited enormously from our discussions on the pressing financial and economic problems of the country. I was particularly impressed with his deep understanding of central banking functions- an esoteric topic to even seasoned financial professionals. What many people may not know is the important role he played in promoting the campaign for the autonomy of SBP even before the central bank itself realised its importance. During 1993-97, when SBP was engaged in a difficult struggle to achieve autonomy through legislative reforms, the guidance and support of Mr Zuberi proved of vital importance. I remember fondly many telephone calls and meetings that provided encouragement and guidance to me in that crucial effort in an environment of hostility from many powerful quarters.
Personally, I have lost a dear friend, teacher and mentor. Pakistan has lost an inspiring and courageous thinker but his legacy will live on through a vibrant and free business press. I would like to convey my deep condolences to his children who, I am sure, have the keen desire and ability to continue to live by the high ideals of their illustrious father.