Interview with Ms. Tara Uzra Dawood – President, Dawood Global Foundation [box type=”shadow” align=”” class=”” width=””]Profile: Ms. Tara Uzra Dawood is President of Dawood Global Foundation and Chief Executive Officer of 786 Investments Ltd. Her passion is bringing financial empowerment to women through financial inclusion, entrepreneurship training and recognizing top talent. Her project ‘Educate a Girl’ is a global edtech (educational technology) disruptor, which is striving to educate, empower and wire one million girls globally in partnership with Facebook’s Internet.org. She has also served on the Board of Lahore Electric Supply Company Ltd. [/box] PAGE: What are your views on…
Author: Khalil Ahmed
Industrial sector is capable of providing sustainable economic benefits, needs improvement Interview with Mr Junaid Esmail Makda – President, Karachi Chamber of Commerce & Industry (KCCI) PAGE: Tell me something about yourself and your organization, please: JUNAID ESMAIL MAKDA: Besides being the President of Karachi Chamber of Commerce and Industry (KCCI), I am also the Chief Executive Officer of Makda Group of Companies, which comprises of Makda (Pvt) Ltd, Gaseous Distribution Company (Pvt) Ltd (GDCL), Makda Industries, Makda Enterprise, Friends Real Estate, Friends Packages, Friends CNG, Fuel Star Service Station and Makda CNG Services. Since 1980, I am in knitwear and woven…
Govt must announce the soft package for new and existing industries endurance Interview with Mr Khalid Tawab – Chairman, Tawab Group of Companies PAGE: Tell me something about yourself and your organization, please: KHALID TAWAB: I am Chairman of Tawab Group of Companies which is a renowned name in the manufacturing of paper, board and steel. I have served as Senior Vice President and Vice President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Karachi Chambers of Chamber Industry (KCCI). I am honorary Consul General of Mozambique since 1989. President of Pakistan awarded me Sitara-e-Imtiaz in 2009…
Multinational Companies (MNCs) are significant employers across Pakistan which is a substantial support to the government. The government on its own may and should not be doing the work of generating the employment opportunities rather the government should work as an efficacious regulator to ensure that the objectives are being met as per requirement. Pakistan unlike India and China has not really been an avid destination of the MNCs from across the world for a multitude of reasons. Though a country with the population exceeding 208 million, Pakistan lacks the lure in terms of attracting the MNCs. Whether leading multinational…
Perception is stronger than reality. Pakistan has been presented as an extremely insecure country in the Western media for a while. Even in Hollywood movies, terrorists during interrogation by the law enforcement agencies are asked whether they got training in Pakistan. It is about time that the true image of Pakistan was presented. Optimism for doing business in Pakistan needs to be highlighted. Pakistan is a country full of opportunities for the business leaders from across the world. The Board of Investment (BoI) needs to play a proactive role in terms of image-building of Pakistan in the business world. Myriads…
Billions of dollars of investment from Saudi Arabia (to be the part of ‘China-Pakistan Economic Corridor’ popularly known as CPEC) dominated the headlines over the period of last couple of weeks in Pakistan. The government ministers on and off did acknowledge that the investment by Pakistan’s all-weather friend, Saudi Arabia, would be in the mega projects. However, the situation has unfolded now. Yes, the investment by Saudi Arabia would not be the part of CPEC and Saudi Arabia would not be a collateral strategic partner in the CPEC. Furthermore, the amount quoted earlier for the CPEC portfolio by myriads of sources varied…
China’s Belt and Road Initiative (BRI) is being deemed in some quarters as economic as well as political dominance of China. The prevailing perspective in some countries in particular is about the growing influence of China specifically in Poland, Laos, Kazakhstan, Sri Lanka, Indonesia, Bangladesh, Afghanistan, Nepal, Pakistan and in many African countries. India is overly perturbed by virtue of China’s influence in Sri Lanka in particular and in Asia in general. Some countries in the Western world presume that China is indebting many countries and would ultimately take their strategic assets in its own control. Sri Lanka handed over the strategic port of…
Is the incumbent government righting the wrongs of the erstwhile government with the presentation of the mini-budget? Was the mini-budget sine qua non to stabilize the economy? Was the presentation of the mini-budget only way out to address the conundrums of the lack of the wherewithal the Pakistani economy is facing at present? Would the mini-budget be efficacious in curtailing the whopping twin deficits? Would the mini-budget work like a magic wand? Does the mini-budget stipulate documentation of the undocumented sectors of the parallel economy? Is the mini-budget an old product with innovative packaging? Is it something tested over and…
A conversation with Mr Ashfaq Yousuf Tola –FCA, a renowned tax expert [box type=”shadow” align=”” class=”” width=””] Profile: Fellow Member of Institute of Chartered Accountants of Pakistan Fellow Member of the Institute of Cost & Management Accountants of Pakistan Life Member of Karachi Tax Bar Association Life Member of SAARC Chamber of Commerce and Industry Achievements: Presentation to IMF on Single Stage Sales Tax in December 2015 Visited Turkey as an official of Government of Pakistan to study Turkish Tax System & authored a report on Turkish Taxation System Knowledge of more than 40 Jurisdictions around the Globe and co-authored…
Real estate has stable position; providing shelter to every Pakistani a good step Interview with Syed Muhammad Talha – CFO, Javedan Corporation Limited and International Builders and Developers (Pvt) Ltd [box type=”shadow” align=”” class=”” width=””]Profile: Syed Muhammad Talha is the Fellow member of the Association of Certified Chartered Accountants and holds a Master’s degree in Commerce from Karachi University. He completed his articleship from EY Ford Rhodes and Co. Chartered Accountants, where he gained experience of diverse sectors serving clients spanning the Financial, Manufacturing, Trading and Service industries. Before joining the Arif Habib Group Company, he served Al-Abbas Group and…
Real estate sector should borne less taxes Low cost housing a stimulus for socio-economic development Interview with Mr Ahmed Owais Thanvi — Managing Director, The Kings Group Builders & Developers [box type=”shadow” align=”” class=”” width=””]Profile: Mr Ahmed Owais Thanvi is the Managing Director of The Kings Group Builders & Developers. He is also a member of the Association of Builders and Developers (ABAD).The Kings Group Builders & Developers is a Construction Company with a nationwide operation in Pakistan since 1977. The Kings Group Builders & Developers provides high quality services to their valued clients, across all sectors and have set…
Owning a house is a distant dream of millions of Pakistanis, particularly in the urban areas. Way back in 1970s, the general populace heard and believed the slogan of owning a house which according to many could not materialize since there are millions in Pakistan even today who live a life of a vagabond. In addition, there are millions who are compelled to pay the monthly house-rent which is by and large beyond their financial capacity. There is pervasive hope across Pakistan these days regarding the promise by the incumbent premier for his five million houses initiative. This is probably…
A simple economics concept stipulates that lowering interest rates triggers the spending by the consumers, usually in the shape of the purchase of consumer goods, and it could help the businesses grow since the private sector finds it cheaper to invest and subsequently to pay back to the banks. In the instance of Pakistan economy, the purchasing by the consumers has compounded manifold over the years leading to consumerism as well as the inflationary pressures whereas the private sector seems to be shying away largely. This has substantiated the claim that Pakistan’s economy is moving towards being a trading economy…
Having undergone a whopping trade deficit of over $38 billion and spooky current account deficit of $18 billion, Pakistan must take outright measures to curtail import to the maximum failing to which the economic woes could cripple every sector of the economy of Pakistan. Drastic steps might lead Pakistan to over 7 percent economic growth during the current financial year. One of the most significant moves could be the import substitution and ‘what goes around, comes around’ concept with its trading partners. Tax cuts may turnaround the situation. Donald Trump, the incumbent US President, seems to be alienating its partners…
Enormous challenges lie ahead for the newly-formed government in Pakistan. One of the acutest conundrums is the power outages/load-shedding, let alone the price of the utility. By and large, the discussion about electricity in Pakistan begins with a few topics such as circular debt touching the unprecedented amount of one billion rupees, increase in demand, direct connections better known as the kunda system (electricity theft), dilapidated transmission lines along with the distribution capacity etc. The energy policy by the erstwhile government in 2013 focused more on the problem in recoveries rather than the menace of the run-down transmission system, which…
The continuing economic downturn in Pakistan with a debt servicing projections at $31.3 billion until 2022-23 calls for immediate measures. Inevitable steps are required about dwindling exports, burgeoning imports, ballooning twin deficits and exceeding debt liabilities. The Finance Minister divulged on the floor of the parliament that Pakistan needs $9 billion for which strategies must have been made. Let’s look at an analogy. Greece, a member of the European Union, is the 51stlargest economy in the world with a nominal gross domestic product of $200 billion. Its exports were euro 29 billion and imports were euro 50 billion in 2017.…
Mutual Funds sector of Pakistan has not been able to increase its share of assets from smaller cities. The focus mainly is on large cities of Pakistan whereas the rural Pakistan gets neglected for various reasons. One of the reasons could be short-sightedness of the mutual funds sector or weak financial muscles for marketing and awareness in the far-flung areas of Pakistan. Not even 10 percent of the total population has invested in mutual funds in Pakistan whereas every third or fourth individual invests in mutual funds in the developed countries. The growth of mutual funds sector of even some…
Interview with Mr. Barkatullah Lone – Chairman GB International Economic Forum, a Saudi Arabia-based Pakistani [box type=”shadow” align=”” class=”” width=””]Profile: Barkatullah Lone is Chairman of GB International Economic Forum. He is a renowned young economist of Pakistan and is associated with a FMCG Group as CFO in a Gulf Cooperation Council (GCC) country. He is a Chartered Management Accountant and Chartered Certified Accountant from UK, Chartered Global Management Accountant from the USA, Gold Medalist Management Accountant and Public Finance Accountant from Pakistan plus he holds Masters Degree in Economics and Law from Karachi University. He has been associated with the…
Interview with Shaikh Nisar Ahmed Perchamwala — Managing Director, VIP FLAGS PAGE: Tell me something about yourself and your organization, please: Shaikh Nisar Ahmed Perchamwala: I am popularly known as Babae Percham. My family background is related with textile manufacturing. In 1984, I was the first to produce Pakistan National Flag with latest rotary printing machine on the finest quality fabric. I was very much stunned to see that our nation till that time did not know the correct color and proportions of our National Flag. I wrote a letter to the Interior Ministry and they sent me the booklet in which…
Interview with Mr. Lal Dino Mari Baloch — an Honorary Investment Counsellor in Hong Kong [box type=”shadow” align=”” class=”” width=””]Profile: Mr. Lal Dino Mari Baloch is the Chief Executive of Baloch Holdings (UK) Limited. He is the Chief Executive of BASO Technologies in Hong Kong, which provides Hi-Tech services to various Governments across Asia. He is the Chief Executive of Bizz & Trade International Ltd (BTI) and few other companies. Under his leadership, BTI has been successfully providing consultancy services besides trading natural resources, energy products, agriculture commodities and electronic products between Hong Kong, China, Indonesia, Pakistan, United Kingdom and…
Pak-Qatar products advocating purest form of Islamic financing to transform the social and economic system Interview with Muhammad Nasir Ali Syed – CEO, Pak-Qatar Family Takaful PAGE: Tell me something about yourself and your profession, please: Muhammad Nasir Ali Syed: My nature of work involves helping people in time of dire need. There is no bigger satisfaction in the world than to help a fellow human being and get his honest blessings in return. I firmly believe in developing a vision in life and plan accordingly. Without vision and purpose one cannot manage life. My parents have been a source of…
Interview with Dr. Syed Arif Hussain — a seasoned insurance professional [box type=”shadow” align=”” class=”” width=””]Profile: Dr. Syed Arif Hussain is currently associated with East West Insurance Company Limited-Widow Takaful Operations. He has brought his expertise in management, resource development, marketing and execution of business strategies to East West Insurance Company Limited-Widow Takaful Operations. His professional experience is spread over 22 years at progressive senior level positions and he has the experience of underwriting, reinsurance, claims management and marketing with the State Life Insurance Corporation of Pakistan and Dawood Family Takaful Limited. He headed Takaful Pakistan Limited, a non-life Takaful…
Interview with Mohammad Ibrahim Kasumbi — former Senior Vice President Karachi Chamber of Commerce and Industry PAGE: Kindly tell us something about yourself: Mohammad Ibrahim Kasumbi: I am in the business of distribution and marketing of Plastics and Petrochemicals for last 30 years. I have been associated with Karachi Chamber of Commerce and Industry for over 16 years and had the honour to serve as Senior Vice President in the year 2015-16. PAGE: How would you comment on the indigenous oil potential in Pakistan? Mohammad Ibrahim Kasumbi: Successive governments in Pakistan have by and large neglected the true potential of oil and gas…
Development of indigenous hydrocarbon resources absolutely imperative for the sustainable economic growth New government should offer incentives to foreign E&P sector for more investment Need to aggressively pursue offshore drilling in the coastal belt of the Arabian sea Interview with Mr Sohail A. Butt – CEO, Energy Energetics PAGE: Tell me something about yourself, please: Sohail Butt: I have spent over thirty five years internationally in the energy sector value chain as a finance professional, systems and business process improvement specialist and as a consultant/advisor working with senior oil and gas executives internationally. I specialize in developing and implementing value creating…
Out of 7.5 billion population of the entire world, around one billion people lack access to electricity across the world. There are huge energy crisis in some emerging economies such as India where denizens suffer up to 12 hours of load-shedding every day in some parts of the country. Pakistan is no exception in terms of energy crisis. With ever-increasing import bill, Pakistan hitherto thinks of import of electricity. Right decisions and the wrong decisions? But Food for thought. Almost all decisions made hence have proved awry, which have led the economy to the verge of collapse. Pakistan’s import bill…
Imran Khan, the would-be premier of Pakistan, in his maiden speech on July 26, 2018 after his outright victory in the 2018 general elections mentioned that around 25 million children are out of schools in Pakistan. This fascinated those who are keen to see the underprivileged join good schools if it is possible in our country. Cricket star-turned-politician and now the likely prime minister of Pakistan, Imran Khan promised to do every effort to make Pakistan a welfare state amid making education, jobs and peace the top priorities to bring back glory for the country. It was way back in…
Pakistan and Gulf Economist travelled to Tando Ebrahim Bawany, Shaikh Bhirkio, District Tando Muhammad Khan, Sindh to get the first-hand information about the free medical facilities being provided to the underprivileged. Free medical camps for children, women, young and old are organized by Faran Sugar Mills Limited where many diseases are treated so that the masses may get the benefit. Surgery for eye-related diseases is conducted free of cost for all patients regardless of their cast, creed, gender etc. Lenses/glasses are offered free of cost and there is also arrangement for free mobile medical camp to benefit the maximum number of…
An exclusive conversation with Dr Abdul Bari Khan, the angel in Pakistan The Indus Hospital (TIH) is a symbol of compassion, dedication and faith-based commitment. The hospital started as a 150-bed general hospital in the urban slums of Karachi. The philosophy behind it, was very simple, it was a project by the people for the people. The idea would not have taken a concrete shape without its founder and CEO’s passion, commitment and hardwork. Dr Abdul Bari Khan belongs to a Peshawar-based middle class family. He is a Dow Medical College alumni who graduated in 1986. He inherited the love…
Someone once said, ‘The ship of the future will be a floating computer’. It actually is going to be true, rather has become true to some extent. There are some who think the shipping industry has already embarked upon the digital revolution whereas some think it is still a long way to go before the real digital transformation takes place in the entire industry. Undoubtedly, digital transformation to bring about autonomous mobility and the use of artificial intelligence would get multiple benefits to the stakeholders. Self-navigating ships and digital captains are not distant dreams any more in this era of…
It is dichotomous to compare Chabahar port of Iran with Gwadar deep-sea port of Pakistan. Iran, India, Afghanistan as well as Turkmenistan and Uzbekistan would primarily benefit from Chabahar port, located on the Makran coast of Sistan and Balochistan province, if it gets going provided that the recent development particularly the sanctions imposed by the USA do not bring about a hitch. India seems quite enthusiast for the operation of Shahid-Besheshti terminal of Chabahar port by 2019 which actually reminds of 2003 when due to sanctions the plans went into abyss. India has invested in infrastructure by constructing a road…
Does Pakistan need 5G/5thGeneration Mobile? Can we afford this technology? Would it replace the existing so-called 4G in Pakistan? Are we that technologically-advanced that we should be the first nation in South Asia to test 5thgeneration cellular services for fast connectivity? Are our institutions, both the federal and the provincial, ready for the coordination required for the usage of 5G? There are so many other questions to be answered before we talk about having 5G. Undoubtedly, technology helps in terms of efficiency and productivity, however, it is the usage and affordability as well. It would be great to go for…
Electronic commerce or e-commerce is no more restricted to only buying and selling online rather it is now mobile commerce, Facebook commerce, interfacing of websites with bank accounts, securing electronic payments through credit and debit cards, Business-to-Business (B2B) activities for manufacturers and traders, online equivalents of the retail outlets, tracking inventories electronically, automated purchasing, lowering expenses, enabling individuals the freedom to work, enabling a firm or individual to conduct business over an electronic network, transfer of information across the internet etc. The e-commerce buzzword has taken the world by surprise with its rapid use across the globe not only in…
Consumer confidence is always high in the economies where there is justified wealth distribution and there is trickle-down effect of the policies of the government. And it is vice versa otherwise. Spending pattern of the middle class is the driver of economy all over the world. The stark reality is that the middle class individuals across the globe are unnerved in recent times about either the stagnation or the decline in their living conditions due to economic problems prevailing even in the developed world. Pakistan is no exception in this regard though as a developing rather a poor country, some…
It may or may not be true that the sentiments are the reasons for the performance of Pakistan Stock Exchange. Well, markets need to be driven by fundamentals not by sentiments. A poor or hasty decision about a certain sector should not be the reason for the upside or downside in the short terms. Prior to the Federal Budget 2018-19, it was being discussed that the incentives and tax relaxations need to be offered in the budget including phasing out corporate, super income taxes etc. Incentives were offered and the confidence level seemed to be at high initially however the…
There is a prevalent assumption that currency depreciation is a trigger for the rise in exports. This historically does not prove true when we discuss the economy of Pakistan. Dollar was trading for around Rs 60 in 2008 and exports were over $20 billion in those days whereas dollar is out of the reach of many today and has been trading for over Rs124 in the open market whereas the exports do not present corresponding better picture in the first eleven months of the current fiscal. Some believe that 15% rise in the exports during the current financial year is…
Interview with Mr Ghazanfer Ali Khan (A Renowned Industrialist) [box type=”shadow” align=”” class=”” width=””]Profile: Mr Ghazanfer Ali Khan is the director of a leading auto parts manufacturing company in Pakistan. He is also a member of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) standing committees handling different committees for the past decade.[/box] PAGE: How would you comment on the trade of Pakistan with the world? Ghazanfer Ali Khan: The trade deficit says everything about the trade between Pakistan and the world. We are far behind in many things. If you take my industry, the basic pillars of the…
PAKISTAN & GULF ECONOMIST went to explore how children from underprivileged family background (who cannot afford two meals a day) get free of cost cancer treatment and get education simultaneously in the school made within the premises of the hospital. When asked, PAGE was told that the children suffering from cancer get treated and are educated in the Indus Hospital so that these children should not lag behind in education compared to the children of their same age. These children are provided with free books, quality teachers etc. PAGE heard touching stories of the cancer-patients aged less than 11 years…
PAKISTAN & GULF ECONOMIST had exclusive conversation with Dr Farah A. Bari, Dr Samia Shuja, Dr Rehan and some patients at the Indus Hospital, Sheikh Saeed Memorial campus Korangi, Karachi about the free of cost quality medical treatment for the poor. Dr Farah A. Bari is a trained hospital management professional and has always been passionate about mother and child healthcare. She is Senior Manager Administration and Heading the project of maternal and child health for the Indus Hospital, Sheikh Saeed Memorial campus Korangi, Karachi. Prior to her current job, she worked as Administrator in the Department of Emergency Obstetrics & Gynecology,…
Exclusive interview with Professor Nadeem Qamar — Executive Director, NICVD [box type=”shadow” align=”” class=”” width=””]Profile: Professor Nadeem Qamar has had a 20 year long and enduring journey with National Institute of Cardiovascular Diseases, Karachi. Earning an MBBS degree from Liaquat Medical College, Jamshoro. Professor Nadeem Qamar went abroad to complete his residency in Internal Medicine from Franklin Square Hospital, USA and received his fellowships in Cardiology and Angioplasty from McGill University, Canada and Ottawa Heart Institute, Canada respectively. He has trained countless cardiology fellows specializing in Interventional Cardiology and Catheterization Laboratory Techniques, has authored many research papers and is a…
Public private partnership in social sector can bring a dramatic improvement in service delivery for Tharparkar communities Interview with Mr Shamsuddin Ahmed Shaikh – CEO, Engro Powergen Limited PAGE: Kindly tell me something about Thar Foundation: Shamsuddin Ahmed Shaikh: Thar Foundation is a section-42 registered not-for-profit company. It works for development of Thari communities in 10 different sectors including Education, Health, Drinking Water, Infrastructure, Livelihood, Women Empowerment. Thar Foundations aims to make Islamkot first SDG’s achieving taluka in partnership with Govt. of Sindh and UNDP. PAGE: What has your organisation done in terms of education for the Tharis? Shamsuddin Ahmed Shaikh: The…
Interview with Mr Abdur Rauf – CEO, Shahzad Apparels Pvt Limited PAGE had an exclusive conversation with Mr Abdur Rauf regarding ‘impact of the rupees depreciation on exports, remittances, investment and cost of doing business in Pakistan’. The excerpts of the conversation are as follows: Any depreciation in rupee would not yield the desired impact on the declining exports and massive trade balance. Devaluation of currency can only help one time for the non-realization of export proceeds or consignments in pipeline, otherwise, foreign buyers demand for discount due to devalue of Pakistani currency. Depreciation of rupee would ultimately increase the…
Interview with Syed Shariq Waqar — an analyst [box type=”shadow” align=”” class=”” width=””]Profile: Syed Shariq Waqar is a Fellow Member of the Institute of Cost and Management Accountants of Pakistan and has got 20 years of diversified professional experience, both at national and international level in medium and large scale organizations.[/box] PAGE interviewed Syed Shariq Waqar about the need of Professional Accountants in Public Sector. The excerpts are as follows: ‘Professionalism’ is a commonly used word nowadays in every field of life whether it is intellectual work, commercial jobs, art and culture, life-saving jobs, education, sports etc. Every field demands technical…
FDI has better future, saving culture needs improvement Interview with Syed Farhan Karim — Vice President, Equity Sales Arif Habib Limited [box type=”shadow” align=”” class=”” width=””]Profile: Syed Farhan Karim is associated with Arif Habib Limited for over twenty years and currently holds position of VP Equity Sales. He has got a Master’s Degree in Business Administration. He is an experienced Capital Marketer with strong leadership and relationship-building skills. He is mainly engaged in client-focused equities sales. He is a thorough financial advisor and is excellent at juggling multiple tasks and working under pressure. His broad industry experience includes Trading, Fund/Portfolio…
Interview with Dr Khusro Iqbal — an analyst PAGE had an exclusive conversation with Dr Khusro Iqbal, who possesses a PhD degree and has got more than two decades of professional experience working in three continents, namely; Asia; Africa and Australia. The excerpts of the conversation are as follows: In my opinion the Islamic financing system is an investment of finances in conformity with the philosophy and value structure of Islam and is directed, along with orthodox good governance and risk management rules, by the doctrine of Islamic Shariah. Interest-free banking could be considered as a tapered perception representing a number…
Banks in Pakistan urgently need to revamp conceptual learning methodology Interview with Mr Hamad Rasool Bhullar — an analyst PAGE: Kindly tell me something about yourself: Hamad Rasool Bhullar: I am currently working with a large public sector organization. With respect to Islamic finance I have been involved in research and training for over 12 years and so far conducted over 300 trainings on different aspects of Islamic finance ranging from basic concepts to Shariah-compliant risk management, investment management and corporate governance. PAGE: What are your views on the Islamic finance in Pakistan? Hamad Rasool Bhullar: Islamic finance has flourished quite reasonably in Pakistan…
ICMA has taken the lead by forming an overseas chapter in UK, others should work to attract foreign students Exclusive interview with Mr Aamir Ijaz Khan — Executive Director, ICMA-Pakistan PAGE: Kindly tell me something about yourself: Aamir Ijaz Khan: By profession, I am a Fellow Cost and Management Accountant and have on my credit around 18 years of diversified experience in the areas of Client Servicing, Project Implementation, Business Repositioning, Financial Management and Compliance. I am also a SAP, FICO Certified Consultant. Prior to joining ICMA Pakistan as Executive Director, I was serving as Head of Quality Assurance at…
Interview with Professor Mohammad Rais Alvi, renowned educationist [box type=”shadow” align=”” class=”” width=””]PROFILE: Professor Mohammad Rais Alvi has served as the Vice Chancellor, Rector and Director of various national universities and degree awarding institutes. He has been a member of the Vice Chancellor‘s Forum (A platform of vice chancellors of the universities of Islamic countries) and The Vice Chancellors Committee under HEC Pakistan. He has also worked as an additional Secretary Education, Government of Sindh, the Registrar at Karachi University and the Executive District Officer (EDO) Karachi. He has been a professor over the years at various educational institutes in…
Let’s analyze the impact of the Federal Budget 2018-19 announced a couple of weeks ago by the couple-of-week old Finance Minister, Miftah Ismail. Should the incumbent Finance Minister have been happy by talking about the $1 billion commercial loan received from a Chinese bank right after the announcement of the budget? If it is a good sign and if it is going to help us manage the balance of payment conundrums at least for a while, where is the sense prevailing in the dazzling minds of the people at the helm of affairs and what have they been doing over…
Low cost of doing business and utility rates will help economy prosper Interview with Mr Shamim A. Firpo – Chairman, Firpo Group of Companies PAGE: Tell me something about yourself and your organization, please: SHAMIM A. FIRPO: I started struggle at a very young age. When I was six-year-old, my father died then my mother played a vital role in building my personality and my future. My mother motivated and encouraged me in every walk of life. I am determined and optimist kind of a person and always believe in Allah SubhanahuTa’alah that He always has good for everyone. As a…
There is lots of interest exhibited by almost every Pakistani these days about the trade prospects with China. Even those who have never been to school know about CPEC and talk about the trade between Pakistan and China and the prospects of the Chinese investment in Pakistan. By and large, the perception is positive with some exceptions. There is concern in certain quarters of the society as well regarding the Chinese dominance. There is simple rule of economics that if the trade relations strengthen between a large and a small economy, the net beneficiary is always the small economy. China…
Interview with Mr Lal Dino Mari Baloch — Honorary Investment Counsellor Board of Investment (BoI), Prime Minister’s Office Government of Pakistan-Hong Kong [box type=”shadow” align=”” class=”” width=””]Profile: Mr. Lal Dino Mari Baloch was born in Khairpur Mirs in a political/landlord family. He got involved in business rather than joining politics. Mr. Baloch has 29 years business experience in various fields. He is the Chief Executive of Bizz & Trade International Ltd (BTI) and few other companies. Under his leadership, BTI has been successfully providing consultancy services besides trading natural resources, energy products, agriculture commodities and electronic products between Hong Kong,…
Looking at the economic progress of Pakistan over the period of last 05 years of the incumbent government, one can easily gauge that the claims of prosperity belie the ground realities. Based on the performance of the economy over the period under discussion, it is cakewalk to presume what one must expect from the Budget 2018-19. Domestic debt increased by five times and external debt by 1.4 times between 2009 and 2018: the bigger chunk during the last five years. External debt in 2013-14 was 20.7% of GDP which increased to 27.3% of GDP in 2016-17. Trade deficit was $16.6…
Exclusive discussion with Dr. Ayub Mehar, Economist PAGE had discussion with Dr. Ayub Mehar about the budget 2018-19. He termed it the Political Budget and talked about the growing debt in present scenario. Following are the excerpts of the discussion: The upcoming budget will be the last budget of present government and will be presented and announced just before care taker set up when election campaign will be going to start. So it is quite expected that this budget will become a ‘Political Budget’. Though Finance Adviser has clearly mentioned that the upcoming budget will not be political but in…
Draconian laws remain hard and mental torture to business and industrial community Interview with Mr. Muffasar Atta Malik – President, Karachi Chamber of Commerce and Industry PAGE: Tell me something about yourself please: Muffasar Atta Malik: I started my student life from an Army run school in Sialkot and after graduating from Murray College Sialkot got admitted in Nishtar Medical College Multan in 1982 to fulfill the desire of my parents. But Allah SWT had some other role carved for me and in a surprise move, I had to leave my professional studies and join my family business in Karachi as…
Rice is always a cash crop but need reforms in trade plan and true govt. support Interview with Mr. Abdul Rahim Janoo, a leading businessman for agro-based products [box type=”shadow” align=”” class=”” width=””]Profile: Nature of business: Export:- rice, grain, agrobased products, spices/sugar/wheat & by products. Import: Milk powder/tea/rubber/spices. Chairman: Hina Exports Hina Investments Hina Petroleum Haji Razak Janoo memorial trust largest family trust in world for free eye charity and surgery, organizers of Baba Fareed free laser surgery camps in Pakistan and Bangladesh. Jama Masjid Al Razak Jama Masjid Hamida Jama Masjid Mustafa Jama Masjid Ali Haider Karar Jama Masjid…
Interview with Mr Ahmed Owais Thanvi — M. D. King’s Group of Builders & Developers [box type=”shadow” align=”” class=”” width=””]Profile: M. D. King’s Group of Builders & Developers Director, ASF Housing Scheme CEC Member, ABAD Chairman KMC Committee FPCCI Convener KMC Committee ABAD Convener Allied Industries ABAD Member KCCI The King’s Group of Builders & Developers is a Construction Company with a nationwide operation in Pakistan since 1977. It provides high quality services to its valued clients across all sectors and has set a strong benchmark for the industry. Based in Karachi, King’s Group provides a comprehensive range of services…
Interview with Dr. Munir Ahmed — Chief Executive Officer, Aisha Steel Mills Limited PAGE: Kindly tell us something about yourself and your organization: Dr. Munir Ahmed: I am metallurgist with bachelors, masters and PhD in the field. I started my carrier as a research scientist and published many articles in leading international journals. Subsequently, I focused my attention in developing special steels in lab and then on industrial scale for a wide variety of industrial applications. As head of Peoples Steel Mills, prior to joining Aisha Steel, I developed and introduced more than 300 grades of alloy steels, as per…
Meezan Bank currently focusing on corporate to investment and branchless Islamic banking Interview with Mr Irfan Siddiqui — President & Chief Executive Officer, Meezan Bank PAGE: Kindly tell us something about yourself and your organization: Irfan Siddiqui: I am the founding President and Chief Executive Officer of Meezan Bank Limited, Pakistan’s first and largest Islamic bank. My educational background includes a Foundation Course in Accountancy from Sunderland, UK and I am a Fellow Chartered Accountant from Institute of Chartered Accountants, England and Wales. I have served at a number of senior management positions including Chief Executive Officer at Al-Meezan Investment Bank…
Interview with Dr. Ayub Mehar – an economist PAGE: Tell me something about yourself, please: Dr. Ayub Mehar: Currently I am serving as Professor at Iqra University and am also associated as Economist with the Gerson Lehrman Group, Austin USA (Political Upheaval and Global Competitiveness project for World Economic Forum). This is an important institution doing policy-oriented research. My portfolio mainly belongs to the international trade, financial markets and macroeconomic policies. In recognition of my expertise, the Technology Policy and Assessment Center at Georgia Institute of Technology acknowledged its membership in the distinguished panel of international experts for Indicators of Technology-based…
Prime ways of enhancing exports are to support new entrepreneurs, diversifying export from traditional items to non-traditional items plus value addition Interview with Mr Shamim A. Firpo — former President, Karachi Chamber of Commerce & Industry PAGE: Tell me something about yourself and your organization, please: Shamim Firpo: I started struggle at a very young age. When I was six-year-old, my father died then my mother played a vital role in building my personality and my future. My mother motivated and encouraged me in every walk of life. I am determined and optimist kind of a person and always believe…
Interview with Mr Majyd Aziz – President, Employers Federation of Pakistan [box type=”shadow” align=”” class=”” width=””]Profile: Mr Majyd Aziz is head of his family business group that is involved in textiles, commodities, shipping, and cargo handling, etc. He is President of Employers’ Federation of Pakistan and was recently elected as the first President of South Asian Forum of Employers. He is a Substitute Member of Governing Body of ILO (International Labor Organization). He is former Member of Board of Directors of the government-owned Zarai Taraqiati Bank Limited and former Chairman of the government-owned SME Bank Ltd. He is a former…
Interview with Mr Lal Dino Mari Baloch — Honorary Investment Counsellor, Board of Investment (BoI) Prime Minister’s Office Government of Pakistan-Hong Kong [box type=”shadow” align=”” class=”” width=””]Profile: Mr. Lal Dino Mari Baloch was born in Khairpur Mirs in a political/landlord family. He got involved in business rather than joining politics. Mr. Baloch has 29 years business experience in various fields. He is the Chief Executive of Bizz & Trade International Ltd (BTI) and few other companies. Under his leadership, BTI has been successfully providing consultancy services besides trading natural resources, energy products, agriculture commodities and electronic products between Hong Kong,…
Interview with Mr Khalid Tawab – Chairman, Tawab Group of Companies PAGE: Tell me something about yourself and your organization, please: Khalid Tawab: I am Chairman of Tawab Group of Companies which is renowned named in the manufacturing of paper, paper board and steel. I have served as Senior Vice President and Vice President of FPCCI. I am honorary Consul General of Mozambique since 1989. President of Pakistan awarded me Sitara-e-Imtiaz in 2009 in recognition of my outstanding public services. My company got two time FPCCI Exports Awards and one time International Asia Award due to highest exports. I am philanthropist…
Interview with Mr Mahmood Lotia — Senior Deputy Managing Director, EFU General Insurance Limited PAGE: Tell me something about yourself and your organization, please: Mahmood Lotia: I am an Associate of the Chartered Insurance Institute of UK (ACII). I started my insurance career in April 1974 then trained at the M&G Reinsurance Company, UK. From April 1977, I worked with Adamjee Insurance Company Ltd and Commercial Union Assurance Pakistan Branch and overseas with Abu Dhabi National Insurance Company. On return to Pakistan in August 1991, joined EFU General Insurance Limited and currently I am in-charge of the company’s technical operations including…
Interview with Muhammad Nasir Ali Syed – CEO, Pak-Qatar Family Takaful Limited PAGE: Tell me something about yourself and your organization, please: Muhammad Nasir Ali Syed: My nature of work involves helping people in times of need. There is no bigger satisfaction in the world than to help a fellow human being and get his honest blessings in return. I firmly believe in developing a vision in life and to plan accordingly. Without vision and purpose, one cannot manage life. My parents have been a source of continuous inspiration and I try my level best to follow their professional approach and…
Interview with Mr M. Ayub Khan — a sportsman PAGE: Tell me something about yourself, please: Ayub Khan: I graduated in 1985 from National Textile Engineering University Faisalabad. I have vast experience of textile industry as an entrepreneur. I was a very good cricket opening batsman throughout in my student life. Mostly I played cricket as captain at club level and university level. I was also a good hockey player. I was table tennis Champion in engineering university. I was president of student union in National Textile University Faisalabad. I am a regular early morning golfer in DHA Golf Club. PAGE:…
Interview with Muhammad Talha — a cricket enthusiast PAGE: Tell me something about yourself, please: Muhammad Talha: I am the CFO of Javedan Corporation Limited (JCL) and looking after financial and property operation matters. Beside this, I have been a part of several sporting activities to promote the sports in Pakistan. Naya Nazimabad, a project owned by JCL has always been a keen supporter to the sporting activities. Naya Nazimabad Lawai Stadium has been described as a welcome addition to the list of cricket grounds of high standard and now it has become a home ground of Karachi Kings. In addition,…
Plenty of interest has been exhibited by the auto sectors of many countries in Pakistan over the period of particularly last two years, may be because of the Automotive Development Policy 2016–21. Pakistan with a population of over 208 million is the fifth most-populous country in the world. Pakistan currently has around 13 cars per thousand people which are expected to reach 20 cars per thousand by 2020. The great development for the masses over the couple of years is that many countries particularly China, Turkey, Thailand have expressed their interest in investing in Pakistan’s auto sector which may be…
Pakistan is heaven on earth for local assemblers after huge supply/demand gap Interview with Mr H. M. Shahzad – Chairman, All Pakistan Motor Dealers Association [box type=”shadow” align=”” class=”” width=””]Profile: Mr. H. M. Shahzad is in the automobile business since 1980. He established Shahzad Motors at new M. A. Jinnah Road in 1980 where it is still located. His business is mostly involved in the import and sales of used cars. He is the Chairman of the All Pakistan Motor Dealers Association (APMDA) and has been representing the association in government and other forums for a long time. Due to…
Pakistan’s first gas field was found in 1952 in Balochistan and the commercial exploitation of the field began in 1955. Sui gas field accounts for a quarter of Pakistan’s gas production. The exploration activities went on and gas was discovered in all four provinces of our dear homeland. Whenever discussion breaks out anywhere in any circle, it is said that Pakistan is blessed with abundant gas reserves, however, no serious efforts have been made so far for exploration. Not to speak of Balochistan, Sindh and Khyber Pakhtunkhwa (KPK) are the provinces where abundant reserves are available. Let me share my…
Additional gas exploration activities will give Pakistan edge over global drilling slump Interview with Mr Abbas Bilgrami, — energy sector expert PAGE: Tell me something about yourself and your organization, please: Abbas Bilgrami: I am an advisor to the energy and energy infrastructure industry. I am developing a number of projects in Malaysia, Pakistan and South Africa. My company Juniper Advisors focuses on the energy, renewables and related infrastructure. I have also been lucky to have been involved in building energy infrastructure in Pakistan and regionally. I have also been privileged to have advised the Government of Pakistan as part of the…
Interview with Dr. Ayub Mehar – an economist [box type=”shadow” align=”” class=”” width=””]Profile: Dr. Ayub Mehar is currently serving as Professor at Iqra University and is also associated as economist with the Gerson Lehrman Group, Austin USA (Political Upheaval and Global Competitiveness project for World Economic Forum). Before this, he has been working at various responsible positions in industry and academic institutions in Pakistan. He has served Federation of Pakistan Chambers of Commerce and Industry (FPCCI) as Director General (R&D) for 6 years and Economic Advisor in Economic Cooperation (ECO) Chamber of Commerce and Industry. He is alumni member of…
Exclusive interview with Mr Naeem Zamindar – Chairman, Board of Investment PAGE: Tell me something about yourself and BoI (Board of Investment) please: Naeem Zamindar: I am a results-driven business leader with experience in venture capital, building businesses in mobile and fixed line communications, cable TV and mobile financial services, renewable energy and education. Previously, I have been the CEO of Acumen Fund and Wateen Telecom, founding team member and CSO of the largest private sector company in Pakistan — Jazz, and a Senior Investment Manager at Intel Capital in Silicon Valley. The Prime Minister has a vision for a prosperous…
Interview with Mr Aamir Ijaz Khan – member ICMA-Pakistan [box type=”shadow” align=”” class=”” width=””]Profile: Professional Qualifications: Fellow Cost & Management Accountant (FCMA) from Institute of Cost & Management Accountants of Pakistan SAP FICO Certified Consultant from Abacus Consulting, Lahore partnering with SAP Malaysia Certified Management Accountant (in progress) from Institute of Management Accountants, USA Professional Experience: Since April 2012, working with Innovative (Pvt) Limited, only Gold Partner in Pakistan of APC-MGE (a Schneider group company) largest UPS manufacturer in the world and only Gold Label Service Partner of Diebold Nixdorf a global leader in ATMs; as Head of Quality Assurance…
Interview with Mr Anis Majeed – Chairman, Bombi’s Group, Karachi Wholesales Grocers Association (KWGA) [box type=”shadow” align=”” class=”” width=””]Profile: Mr Anis Majeed is Chairman of Bombi’s Group and Karachi Wholesales Grocers Association (KWGA). He has been active managing committee member of Karachi Chamber of Commerce and Industry (KCCI). He is also General Body member of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on behalf of Rice Exporters Association of Pakistan (REAP). He has been in pulses (commodities) business for more than 35 years. Anis Majeed and his brothers took over business from their father who established pulses…
Interview with Mr Muffasar Atta Malik – President, Karachi Chamber of Commerce & Industry PAGE: Tell me something about yourself please: Muffasar Atta Malik: I started my student life from an Army-run school in Sialkot and after graduating from Murray College, Sialkot got admitted in Nishtar Medical College, Multan in 1982 to fulfill the desire of my parents. But Allah SWT had some other role carved for me and in a surprise move I had to leave my professional studies and joined my family business in Karachi, as per my father’s wish. So I started my business career in 1982 at the…
The claims of prosperity and progress made by the incumbent government belie the reality. Almost 50% of the total population of 208 million lives below the poverty line in Pakistan. And those considered bourgeois also face difficulty in meeting both ends meet these days. So where is that prosperity? What kinds of goggles are required to see, touch or at least feel that prosperity? A very big question, indeed!!! Let alone owning a house in Pakistan by the majority of the population, even the so-called bourgeois find it difficult to maintain the living standards being enjoyed by them for the…
Banks should be more supportive for the masses and for corporate industry growth An exclusive interview with Mr. Barkatullah Lone – Chairman, GB International Economic Forum [box type=”shadow” align=”” class=”” width=””]Profile: Mr. Barkatullah Lone is Chairman of GB International Economic Forum and is associated with a FMCG Group as CFO in a GCC county. He is a Chartered Management Accountant and Chartered Certified Accountant from UK, Chartered Global Management Accountant from the USA, Gold Medalist Management Accountant and Public Finance Accountant from Pakistan plus he holds Master’s Degree in Economics and LLB from Karachi University. He has been associated with…
Branding a product is a buzz-word across the globe which brings about value of the product. In the brand-conscious society like that of ours to some extent, branding fruits and vegetables may bring optimal benefits for the poor vegetable and fruit growers around the country. It would be great if someone at the helm of affairs may tell the value of brands to our otherwise uneducated agro-based community by apprising them of only a few brands such as Nike, Apple, Samsung etc. If these brands don’t go well with them, big basket may be referred which says buy farm fresh…
Interview with Sheikh Nisar Ahmed Parcham Walay – Managing Director, VIP Flags [box type=”shadow” align=”” class=”” width=””]PROFILE: Sheikh Nisar Ahmed Parcham Walay was born in Delhi (India) in August 1947. He completed graduation in 1965 and migrated to Pakistan in 1967 with no money in hand. He started his business first by taking experience in a textile mill and after two years he was able to start his own factory initially with four power looms and then gradually increased number of looms and production in cloth industry.[/box] PAGE had an exclusive conversation with Sheikh Nisar Ahmed Parcham Walay about Pakistani brands,…
It was way back in 2008 that the crude prices went as high as $147 per barrel shaking the entire non-oil producing world. And again, it was in the same year i.e. 2008 that the crude prices went as low as $32 per barrel causing unparalleled inventory losses. Pakistan was one of the worst affected countries in 2008 since almost one third of the imports are oil imports. However, 2014 brought very good news for Pakistan since the oil glut in the world proved blessing for the countries that are net importers of oil. When crude prices were as low…
There lies the challenge for most social enterprises and a question that has been asked by many and successfully executed by a few. In a rapidly changing environment and the growing need for expansion, the urge to scale opportunities and unlock human potential is at the forefront in the mind of any social entrepreneur. Put simply, the question now is “How can we get 100x the impact with only a 2x change in the size of the organization?” The idea of scaling impact is to be able to deploy a limited amount of resources and magnify the area of effect…
Patients with heart disease may get treatment free of cost with superior care in Pakistan. One under-treatment patient, at National Institute of Cardiovascular Diseases (NICVD) Larkana, belonging to Shahdadkot revealed to PAKISTAN & GULF ECONOMIST (PAGE) that she was brought by her family members in emergency at 4am (in the morning). Once they reached, she was admitted and given proper treatment by the doctors. According to her, it is unprecedented that heart patients are being treated with great care and professionalism without any charges and without any source for the treatment. Even the medicine during the treatment is provided by…
Providing skills to downtrodden under CSR remain insufficient Leap forward measures must be taken to improve vocational training for sustainable development Interview with Muhammad Khalid – an analyst [box type=”shadow” align=”” class=”” width=””]Profile: Muhammad Khalid is a retired Army officer. He served Pakistan Army for about 27 years. After retirement, he did a few jobs including an assignment in a multinational company in the Middle East. Recently, he has completed Masters in Philosophy in Peace and Conflict Studies from NDU, Islamabad as a regular student. His thesis of research is regarding Internal Security Policy of Pakistan 2014-2018.[/box] PAGE had an…
Interview with Syed Muslim Hasany – Director, Green Peak International [box type=”shadow” align=”” class=”” width=””]Profile: Syed Muslim Hasany is currently working as Director Financial Advisory and Business Development with Green Peak International, a Consultancy firm in Karachi. He is a mid-aged professional accountant, member of Institute of Chartered Accountants of Pakistan since 1993 and Certified Public Accountant from US since 2002. He has been working mostly in the area of Corporate Governance, including Audits and Compliance. During his career, he got opportunities to work in four different countries including Saudi Arabia, Canada, Oman and Pakistan. As his career demands, he…
Interview with Mr Farooq Dadi — Revenue Analyst [box type=”shadow” align=”” class=”” width=””]Profile: Mr Farooq Dadi is a revenue analyst. He did Masters in International Relations from Karachi University in 1976-77. He is a Rotarian for last 20 years and has been serving the community projects to serve the community in terms of different projects i.e. Water and Sanitation, Health, Education and Eradication of Polio etc.[/box] PAGE: How would you comment on the human capital of Pakistan? FAROOQ DADI: We have hardly invested on our human capital. We need to build universities (mainly engineering and agricultural) because this will eventually lead…
Must constitute boards for different crops to identify problem, remedies and reforms Interview with Mr Mahfooz Ursani — Additional General Secretary, Sindh Abadgar Board PAGE had an exclusive conversation with Mr Mahfooz Ursani about agriculture sector. The excerpts of the conversation are as follows: Agriculture is the culture and the lifestyle where I opened my eyes. From childhood to youth I saw my elders cultivating different crops round the year. Putting all their energy, wisdom, efforts, hopes and money in sowing it and then pray for good weather from God to raise it for the finest and richest yield. My whole…
Interview with Mr Abdul Rahim Janoo – former Chairman, Rice Exporters Association of Pakistan (REAP) [box type=”shadow” align=”” class=”” width=””]Profile: Chairman: — Haji Razak Janoo Memorial Trust, Karachi. Pakistan Economic Forum. Masjid Al-Razak, S.I.T.E/Masjid Al-Hamida, Super Highway/Jama Masid Haider-e-Karrar (Clifton)/Jama Masjid Mustafa (Nooriabad)/Jama Masjid Umer (Manzoor Colony) Former Chairman: — Rice Exporters Association of Pakistan (REAP). FPCCI Export Trophy Awards and Achievement Awards 2015 Accounts FPCCI 2015 Fair and Exhibition Committee FPCCI 2015/2016 Former Senior Vice President: Federation of Pakistan Chambers of Commerce & Industry. Former Vice Chairman: Pakistan-Rice-Board, Government of Pakistan. Former President: Dhoraji Cooperative Housing Society. Member Managing:…
New Mobile-Wallet Scheme facilitates Pakistanis abroad in swift, convenient and cost effective manner Interview with Mr Tariq Malik – President, Korangi Association of Trade & Industry (KATI) [box type=”shadow” align=”” class=”” width=””]Profile: Born in Karachi, on November 14, 1952, Mr. Tariq Malik graduated as bachelor of Commerce in 1973 from the University of Karachi. A celebrated English debater for various institutions, Mr. Malik held various elected positions as a student leader. With the surge of students from East Pakistan into Karachi after December 1971, Mr. Malik promptly launched and organized an effective campaign to build a Book Bank for free…
Interview with Dr. Ayub Mehar — an economist [box type=”shadow” align=”” class=”” width=””]Profile: Dr. Ayub Mehar is currently serving as Professor at Iqra University and is also associated as economist with the Gerson Lehrman Group, Austin USA (Political Upheaval and Global Competitiveness project for World Economic Forum). Before this, he has been working at various responsible positions in industry and academic institutions in Pakistan. He has served Federation of Pakistan Chambers of Commerce and Industry (FPCCI) as Director General (R&D) for 6 years and Economic Advisor in Economic Cooperation (ECO) Chamber of Commerce and Industry. He is alumni member of…