The Future Summit starts in Karachi

KARACHI: The sixth edition of “The Future Summit” (TFS) kicked off with a full house at a local hotel in Karachi, a statement said on Wednesday.

The event opened with an address of welcome by Nutshell Group Founder and Chief Executive Officer (CEO) Muhammad Azfar Ahsan.

The platforms like TFS are to build the pressure on the stakeholders to be united for the sake of Pakistan, he said, adding that the foreign policy should be based on the economic interests of the country.

Federal Minister for Climate Change Sherry Rehman was the guest of honour and her address focused on the dire need for corporate and business to make Environmental, Social, and Governance (ESG) an integral part of their vision for the future.

Addressing the audience she said that by 2030 Pakistan is going to be one of the worst-hit countries in the world due to the prevailing wave of climate crisis.

Pakistan is severely impacted by the floods, which has displaced nearly 30 million of its citizens, along with an enormous financial cost and a huge dent to the national economy.

Muhammad Aurangzeb, CEO and president of Habib Bank Limited and Pakistan Banks Association, insisted on the need for financial support to the Agri-zone and ensure the prosperity of the farmer for a prosperous Pakistan.

He elaborated that the business model in Pakistan needs to be changed with stakeholders such as chambers of commerce, while the associations and banks should devise a long-term strategy through collaboration with or without the government.

He stated that the World Bank has forecasted that the economy of Pakistan will increase to $3 trillion by 2047 from $300 billion. Pakistan needs consistency in policies to achieve economic growth in future, he added.

The CEO and President of JAZZ and Chairman of Mobilink Microfinance Bank, Aamir Ibrahim said that the telecom is not merely a sector, but it is an enabler to many sectors and a facilitator of economic growth.

Data is the new fuel in today’s digital transformation and 4G for all is the answer to the problem. Pakistan does not need to focus on 5G for now, he stated.

With the successful conversion to Islamic instruments, sustainability and resilience are crucial to ensure success and optimum outreach. “An organisation must have a purpose-driven plan. It is not just a profitability factor but a social responsibility for effective leadership,” said the President and CEO of Faysal Bank Limited, Yousaf Hussain.

To offer employment to generation-Z and generation alpha, we need to cater to their needs and offer customised employment plans, he said and added that the rollout of management trainee programme is necessary to deploy the younger lot and cater to their needs.

Nadir Salar Qureishi, Chief Investment Officer of Engro Corp also participated in the inauguration session.

Jimmy Nguyen enthralled the audience with the digital Blockchain presentation on how the AI is replacing the traditional modes and methods.

William Bao Bean, General Partner, SOSV and Managing Director of Orbit Startups reinforced the potential of Pakistan as one of the best in the region, and committed to continuing his work in enabling startups for best economic growth. “Our company in Pakistan turned from 0 to $1.4 million in one year only,” he said.

The following sessions alternated between keynote addresses and panel discussions. Many global speakers contributed immensely to insightful discussions.

Leadership roles for new economic realities were explored by the esteemed panellists including Yousaf Hussain, Shazad Dada, President and CEO of United Bank Limited, Amir Paracha, Chairman and CEO of Unilever Pakistan Limited, Zeeshan Sheikh, Country Manager Pakistan and Afghanistan, International Finance Corporation, and Maheen Rahman, CEO of InfraZamin Pakistan.

The session was moderated by Farrukh Khan, CEO and Managing Director of Pakistan Stock Exchange.

Keynote addresses by Adam Weinstein, research fellow at Quincy Institute for Responsible State Craft, Syed Moonis Abdullah Alvi, CEO K-Electric Limited, and Naeem Zamindar, Founder Neem and Former Minister of State, followed highlighting geo-economic reset, support for private owned companies, and innovation and growth respectively.

Moonis Alvi said that Pakistan has to shift towards indigenous sources of power production in the future. Hence, works are underway to convert 30 per cent of Karachi’s energy to alternate sources by 2030.

“We must ensure that the next generation transitions to indigenous fuel as it is not in our interest to buy expensive fuel, for which all partners must contribute,” he said.

Before the summer of 2023, KE will have 900 megawatts of electricity available through the investment of billions of rupees, he added.

Saeed Mohammed Alhebsi, Advisor in AI, Ministry of Human Resources and Emiratisation, UAE, Dana Al Salem, Global Tech Entrepreneur, Investor & Innovation Expert, in conversation with Sajeed Aslam highlighted the need for purpose-driven work in the areas of disruption, sustainability, and resilience.

The panel discussion on Digital Transformation included Asif Peer, CEO of Systems Limited, Dr Shahid Mahmud, Chairman and CEO of Interactive Group of Companies, Ammara Masood, CEO of NdcTech, Mujeeb Zahur, Managing Director of S&P Global. It was moderated by Saquib Ahmad, Country Managing Director of SAP Pakistan.

The day concluded with another insightful panel discussion moderated by Fatima Asad Said, CEO of Abacus Consulting Technology Limited, with Adil Farhat, CEO of Procter and Gamble Pakistan, Ahmed Khan Bozai, Managing Director and City Country Officer of Citibank, Naz Khan, Principal Country Officer of International Finance Corporation Pakistan, Javed Ghulam Mohammad, Group Managing Director and CEO of Martin Dow Group, Steve Lee, Regional Head of Employer Relations and Market Development, Asia Pacific, ACCA; and Paul Keijzer, Co-Founder & CEO, The Talent Games and Founder & CEO, Engage Consulting.

The participants highlighted the need for evolved leadership and the new now with perfection not being a destination anymore as change is constant and requires agility, collaboration, and scalability for impact.

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