Stories by Mutaher Khan

Cutting out the middleman

Cutting out the middleman

Shift even a tenth of the Rs54tr domestic stock out of banks and into retail hands at a yield just 150 basis points cheaper, and the annual saving runs into the region of Rs80bn. Published 08 Jun, 2026 07:15am
What will it take to build a home

What will it take to build a home

While demand-side incentives are great at developing depth in the mortgage markets, home ownership is a supply problem as low-cost Published 01 Jun, 2026 08:09am
Going cashless at the mandi

Going cashless at the mandi

In 2025, the campaign’s coverage increased fivefold in volume over 2024; this year nearly double that number of markets are covered. Published 25 May, 2026 07:50am
Unlocking the crypto ecosystem

Unlocking the crypto ecosystem

Trade execution remains inside the supervised intermediary; fiat entry and exit become visible at the banking layer, allowing for a better audit trail. Updated 27 Apr, 2026 09:53am

Reevaluating financial inclusion

Total accounts are a poor way to truly measure inclusion; a better approach is to look at relative numbers Published 13 Apr, 2026 09:09am
Quarterly currency counting

Quarterly currency counting

It is still early, and the retail economy has barely been scratched, but the right ingredients seem to be in place to move towards Published 30 Mar, 2026 07:29am
A 5G future ahead

A 5G future ahead

At roughly 750 MHz post-auction, Pakistan has crossed the lower-middle-income country average for the first time. Updated 16 Mar, 2026 10:22am
A tale of two paths and AI

A tale of two paths and AI

The relative safety of emerging market workers stems largely from their concentration in primary industries, which already... Published 02 Mar, 2026 07:02am
Where next with private credit?

Where next with private credit?

While advances remain stagnant, the sectoral mix is broadly unchanged, with industrial and services sectors dominating. Published 02 Feb, 2026 07:12am
The not-terrible state of VC

The not-terrible state of VC

As the global venture capital world inches upward in dollar value, the race is not particularly suitable for a developing country. Updated 12 Jan, 2026 09:57am
More SOEs on the way out?

More SOEs on the way out?

In FY24, SOEs recorded cumulative revenues of Rs13.5 trillion, doubling from FY21 levels. Updated 29 Dec, 2025 07:30am
The unassailable uptake of digitalisation

The unassailable uptake of digitalisation

In FY25, 21.7pc of all retail transactions processed through scheduled banks were digital — a record increase of 8.21 percentage points compared to the previous year. Updated 17 Nov, 2025 07:41am
The cost of breathing air

The cost of breathing air

The choice between economic opportunity and respiratory health shouldn’t define a generation’s future, yet for now, it remains Pakistan’s harsh reality. Updated 22 Sep, 2025 12:01pm
The P2M vs P2P puzzle

The P2M vs P2P puzzle

There were more fund transfers in a day through peer-to-peer transactions than through peer-to-merchants in the first quarter of the year. Published 15 Sep, 2025 06:29am
Micro solutions for macro problems?

Micro solutions for macro problems?

Almost 141.5m total financial accounts have been opened in Pakistan between FY17 and FY24, of which two-thirds were branchless. Updated 21 Jul, 2025 11:39am
Financial inclusion in bloom

Financial inclusion in bloom

Moving away from the bureaucratic nightmares of banks, telco mobile wallets have helped significantly boost access to financial. Updated 30 Jun, 2025 10:30am
Budget cuts & developing backwards

Budget cuts & developing backwards

With significant cuts in the PSDP, major chunks never translate into actual spending as key ministries utilise far less than what is available. Updated 10 Jun, 2025 10:52am
In the spirit of crypto experimentation

In the spirit of crypto experimentation

While the SBP sandbox guidelines are a welcome move for untested financial service models, their success will likely be underpinned by variables that go beyond regulation. Published 02 Jun, 2025 08:16am