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…
Author: Khalil Ahmed
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…
Interview with Mr Nasim Beg – CEO, Arif Habib Consultancy PAGE: Kindly tell me something about yourself: NASIM BEG: I am the Chief Executive Officer (CEO) of Arif Habib Consultancy and have been associated with the Group for seventeen years in various capacities. My overall work experience is forty-seven years, having qualified as a Chartered Accountant in 1970. I have worked both within Pakistan, as well as abroad. During the 47 years, I have worked in the financial services, as well as the real economy. PAGE: What is your take on the economic performance of Pakistan during 2017? NASIM BEG: The economic…
Interview with Mr Khushnood Aftab –CEO and founder, Viper Technology (Pvt) Limited [box type=”info” align=”” class=”” width=””]Profile: Mr Khushnood Aftab is the CEO of Viper Technology. He is one of the entrepreneurs who has withstood all types of predicaments and has never given up, just proving that Pakistani brands are second to none.[/box] PAGE: What is your take on the economic performance of Pakistan during 2017? KHUSHNOOD AFTAB: Pakistan’s GDP remained around 5% and is expected to remain good in the future. 5% growth was I think the best in nine years. Accelerating growth is good news and reflects the…
Interview with Mr Zafar Iqbal Ahmed – Founder President, Small & Medium Enterprises Alliance (SAMEA) [box type=”shadow” align=”” class=”” width=””]Profile: Mr Zafar Iqbal Ahmed is the founder President of Small & Medium Enterprises Alliance (SAMEA). He is one of the personalities who has always been very vociferous proponent for the promotion and growth of SMEs in Pakistan. He articulates that SMEs are the backbone of the economy. He is the President of Defence Residents’ Society, President of Bazme Kiran, President of Society for Prevention of Waywardness and President of Society for Promotion of Arabic.[/box] PAGE: What kind of impact could…
Interview with Mr Hamid Hussain Qureshi – Chief Executive, Macca Food International [box type=”shadow” align=”” class=”” width=””]Profile: Mr Hamid Hussain Qureshi is the Chief Executive of Macca Food International, which deals in world class top quality rice varieties of Pakistan, fresh frozen sea foods, allied food commodities and branded products, milling, processing as exporting group of companies having business operations in Asia, America, Europe, Myanmar, Singapore, Sweden and Canada with clients all across the world.[/box] PAGE: What kind of impact could rupee devaluation have on rice exporters? Hamid Hussain Qureshi: Pakistani Rice Exporters will be having short term gains of profits…
Interview with Mr Khalid Tawab – Chairman, Tawab Group of Companies PAGE: Kindly tell me about yourself: KHALID TAWAB: I am Chairman of Tawab Group of Companies which is renowned named in the manufacturing of paper and board and steel. I have served as Senior Vice President and Vice President of FPCCI and Karachi Chamber. 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 Export Awards and one time International Asia Award due to highest exports. I am also a…
Interview with Mr. Badruddin Fakhri – CEO, Galadari Cement (Gulf) PAGE: Kindly tell me about yourself: BADRUDDIN FAKHRI: I may briefly tell you that I passed my ICMAP final in 1976. At that time I was working in an Indian Cement Company Associated Cement Co. Ltd, which had two cement plants in Pakistan and 16 plants in India with its Head Office in Bombay. They had very strong systems whereby they were able to control 18 factories very effectively. Having worked on those systems helped me in the growth of my career. After the war with India which broke out in…
Interview with Mr. Sohail A. Butt – CEO, Energy Energetics PAGE: KINDLY TELL US SOMETHING ABOUT YOURSELF: SOHAIL BUTT: I am a UK qualified Chartered Accountant and have spent over thirty years of my career working in the energy sector value chain that includes oil & gas exploration and production, refining, petrochemicals and oil marketing companies. My most recent area of focus is to provide consulting and advisory services in the field of energy strategy, midstream and downstream projects development. I have in the past two years focused on highlighting energy sector issues and discussed reforms required for addressing the chronic…
Interview with Mian Zahid Hussain – Chief Executive, KenLubes International PAGE: KINDLY TELL US ABOUT YOURSELF: MIAN ZAHID HUSSAIN: I belong to Chiniot Shaikh family. My factory is located in Korangi Industrial area, Karachi. We deal in the manufacturing of industrial and automotive lubricants. I came into business when I was just 10 years of age while completing my education simultaneously. I took charge of my business when I was about to complete my matriculation. This early age involvement into our business gave me a chance to earn experience of meeting different people and understanding different aspects of trade and…
Interview with Mr. Kashif Habib – Chief Executive, Power Cement Limited [box type=”shadow” align=”” class=”” width=””]PROFILE: Mr Kashif A. Habib is the Chief Executive of Power Cement Limited. He completed his articleship from A. F. Ferguson & Co. Being a member of Institute of Chartered Accountants of Pakistan, he gained experience pertaining to different sectors serving clients spanning to financial, manufacturing and service industries. His experience includes being Executive Director of different cement and fertilizer companies of the Arif Habib Group.[/box] While telling us about his organization, he said, “Power Cement Limited aims to be recognized nationally and internationally as…
Interview with Syed Muhammad Talha – Director, Safe Mix Concrete (Pvt) Limited PAGE: KINDLY TELL ME ABOUT YOURSELF AND SAFE MIX CONCRETE LIMITED: SYED MUHAMMAD TALHA: I am the fellow member of the Associations of Certified Chartered Accountants and hold a Master’s degree from Karachi University. I completed my articleship from EY Ford Rhodes and Co, Chartered Accountants, where I gained experience of diverse sectors serving clients spanning the financial, manufacturing, trading and service industries. Before joining the Arif Habib Group Company, I served Al-Abbas Group and Ghulam Farooq Group. I am serving as a Director of Safe Mix Concrete (Pvt)…
[dropcap]A[/dropcap]s a journalist with experience of around two decades, I have witnessed every finance minister saying that Pakistan is going to be an economic hub very soon. I am still waiting for that VERY SOON service. I have interacted with quite a few finance ministers face-to-face and have heard them saying that our policies would lead Pakistan to the path of progress. It has never happened? Some people say that Pervez Musharraf’s era was an era of somewhat prosperity. I have so many reasons not to believe it at all since that era led us to consumption. Let me be…
Interview with Mr. Barkatullah Lone – Chairman, Gilgit-Baltistan International Economic Forum [box type=”shadow” align=”” class=”” width=””]PROFILE: Mr. Barkatullah Lone is Chairman of Gilgit-Baltistan 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 Masters Degree in Economics and LLB from Karachi University. He has been associated with the corporate sector in Finance and Audit profession at various positions. His articles on Economy…
Interview with Syed ShariqWaqar — economy analyst [box type=”shadow” align=”” class=”” width=””]PROFILE: Syed Shariq Waqar has got over 20 years of diversified professional experience both at national and international level in medium and large scale organizations.[/box] PAGE: YOUR VIEWS ON SAVINGS CULTURE IN PAKISTAN: SYED SHARIQWAQAR: There is a famous proverb ‘A penny saved is a penny earned’. On a general scale, the proverb has been religiously followed; however, as a nation we are following it in a way contrary to what it is teaching us. Pakistan stands amongst the countries with lowest savings-to-GDP ratio, standing at a dismal 13.1% in…
[dropcap]P[/dropcap]akistan & Gulf Economist (PAGE) witnessed an elderly lady patient being brought by a donkey cart by her family members to The Indus Hospital also known as Recep Tayyip Erdogan Hospital in Muzaffargarh, Punjab. The poor use donkey cart as a kind of ambulance in such far-flung areas. However when reached, the patient was provided a stretcher by The Indus Hospital and was taken inside the hospital and treated with great care. When asked by PAGE, the patient and the attendants were all praise for The Indus Hospital where everyone is treated free of cost with respect and care. The Indus…
(PAGE) was briefed by Mr Shehryar Ahmad, General Manager Communication Byco Petroleum Pakistan Limited. Following are the excerpts: [dropcap]O[/dropcap]ne of Byco’s major strategic advantages is its Single Point Mooring (SPM) facility. The SPM is the only floating liquid port in the country, allowing Byco to import both crude oil and refined petroleum products directly. At a time when the other two key ports in Karachi are facing extreme congestion due to increased port operations resulting in economic loss and higher financial costs, Byco’s SPM is a strategic advantage for Pakistan’s economy and a National Asset. The SPM allows much larger…
Interview with Mr Shamim Ahmed Firpo — A leading businessman PAGE: KINDLY TELL US ABOUT YOURSELF AND YOUR BUSINESS: SHAMIM FIRPO: I am a self-made person and I feel proud whenever I share my success story to motivate others especially the students. I entered the business field at a very young age. My business journey began in 1968, when I started my food business with the name of “Firpo Restaurant” at Tariq Road Karachi. By the blessings of Allah SubhanahuTa’ala and my mother’s prayers, my business got success and after serving into this dynamic & tempting field, the “Firpo” brand was…
Interview with Mr Mustafa Mirchawala – CEO, Mirchawala’s Hub of Accountancy [box type=”shadow” align=”” class=”” width=””]PROFILE: Mustafa Mirchawala is a compelling and sought after trainer and speaker who helps his audience learn complex concepts in simple ways. Having a user friendly style, he speaks regularly at leading business schools and in the corporate fraternity with exposure of various universities. He brings with himself over 9 years of professional training experience of IFRS, Financial Management and tax which is complimented by a rich blend of practical experience. Mustafa has served leading universities in Pakistan for training session like Bahria University, Commecs,…
Interview with Syed Farhan Karim — Vice President, Capital Market Arif Habib Limited [box type=”shadow” align=”” class=”” width=””]PROFILE: Syed Farhan Karim carries a proven track record of establishing client relationship, dealing and executing brokerage deals in Capital Market of Pakistan. He has over twenty years of experience in the fields of Research and Equity Sales. He has been serving Arif Habib Limited since 1997 and currently holds a position of Vice President, Capital Market. He holds an MBA (Finance) degree from The International University (Missouri) as well as a Bachelor’s degree in Commerce and Economics. He was awarded as third…
Keeping politics, economics beyond individuals and institution can help boost venture in the country Interview with Syed Ali Raza Bukhari, CEO Vector Securities (Pvt) Limited [box type=”shadow” align=”” class=”” width=””]PROFILE: Syed Ali Raza Bukhari co-founded Vector Securities (Pvt) Limited. It is a stock brokerage firm registered with the Pakistan Stock Exchange under their code TREC-025. The firm provides multi-channel trading platforms to its clients; from research-based advisory and execution to a low-cost online trading platform.[/box] PAGE: WHAT ARE YOUR VIEWS ABOUT 2018 IN TERMS OF BUSINESS ACTIVITIES IN PAKISTAN? SYED ALI RAZA BUKHARI: There are two perspectives to analyze business activities…
Backing to Islamic banking admirable, but much work still needs to be done Interview with Mr. Irfan Siddiqui — President & CEO, Meezan Bank [box type=”shadow” align=”” class=”” width=””]PROFILE: Mr. Irfan Siddiqui is the founding President and Chief Executive Officer of Meezan Bank. His educational background includes a Foundation Course in Accountancy from Sunderland, UK and he is a Fellow Chartered Accountant from Institute of Chartered Accountants England and Wales. He has served at a number of senior management positions including Chief Executive Officer at Al-Meezan Investment Bank Limited, as a General Manager at Pakistan Kuwait Investment Company, Manager Finance…
SBP rightly supervising to check risk of compliance in the banking sector Interview with Mr. Naim Farooqui –CEO, Sindh Modaraba [box type=”shadow” align=”” class=”” width=””]PROFILE: Mr. Naim Farooqui did his O & A levels from Karachi Grammar School and proceeded to United States in January 1974 from where he obtained his Bachelor of Science degree in Industrial Engineering from University of Houston in 1978. Subsequently he obtained an MBA degree in 1983. During this entire period he initially did odd jobs to finance his education and after obtaining his first degree in Engineering worked as an engineer in oil-based industries…