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Indo-Pak region Ishrat urges business to lead in creating peace

Dr Ishrat Hussain, former Governor State Bank of Pakistan and Dean and Director IBA called upon business to take the lead in creating peace in the Indo-Pak region by learning from global changes where France and Germany, the enemies of yesterday living with absence of peace for seventy years are today creating peace and bringing prosperity to their people through economic union.

Speaking as the keynote speaker on the topic of "Business for Peace" at the Annual General Meeting of the Global Compact Network Pakistan at IBA on Wednesday, Dr Ishrat said that economic co-operation can be invoked without compromising on border disputes but only sequence of events can change. Go for economic co-operation and create constituencies where business can defend peace on the two sides of the border. Studies of bilateral trade between conflict ridden countries such as China and Taiwan and China and India indicate that India and Pakistan can benefit in trade and volumes will multiply five to ten times creating new opportunities of employment and services. Afghanistan's economy can benefit by integrating Afghanistan in Pakistan's economy while border between Balochistan and Iran can increase economic activity. By creating mutually beneficial interests, conditions can be created for sustainable peace which can be provided by business, Dr Ishrat concluded.

Dr Ishrat also presented "Living the Global Compact Business Excellence Awards 2013-14" to winning companies declared UNGC champions through an evaluation by international and national juries. The awardees included Tameer Bank, Attock Refinery, PARCO, Engro, Indus Motors, Fauji Fertilizer, Hinopak Motors, PPL, Thal Engineering and Hi-tech Lubricants.

Earlier Ahsan ullah Khan, President of the Network welcomed the participants and Fasihul Karim Siddiqui presented activities report of the Network. The business session was followed by a very lively panel discussion led by Aman ul Haque (Engro), Shah Saad Hussain (PARCO), Shehryar (PPL), Shauket Ali (APTUC), Mirza Raza Ali (Lions Club), Professor Jami Moiz (IBA), Dr Mustaghiz ur Rehman (Indus University), Dr Zubair Bawany (CSR association), Kashif Mumtaz (Alert International) and Shazia (Empowering the differently abled).

The election of the Steering Committee of the Global Compact Network Pakistan for the years 2015 and 2016 were also held and the following were elected: Ahsan ullah Khan (President), Haji Muhammad Javed and Aman ul Haque (Vice Presidents), Fasihul Karim Siddiqi (Secretary) and members Khawaja Muhammad Nauman, Shahrukh Siddiqi, Pervaiz Ghias, Brigadier Munawwar Hayat (Retd), Abdul Waheed Sandal, Mirza Raza Ali, Dr Mustaghis ur Rehman, Shah Saad Hussain, Mohsin Tabani, Mian Muhaamd Idrees, Nadeem Hussain, Muhammad Ajmal Khan, Syed Nazar Ali, Bushra Raza, Muhammad Ishaque Butt, Dr Abdul Wahab, Shouket Ali, Dr Zubair Bawany, Siddique Sheikh and Dr Saboor Ghayyur.-PR

Copyright Business Recorder, 2015


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln