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KARACHI: Governor State Bank of Pakistan (SBP) Dr Reza Baqir has said that amid the coronavirus pandemic, the World Bank has praised the initiative of the Ehsaas Cash Program.

Addressing the fifth edition of “The Future Summit”, organized by the Nutshell Group and Martin Dow Group at a local hotel on Wednesday, he appreciated the efforts of NCOC (National Command and Control Centre) and the initiative of the Ehsaas Cash Program which played a vital role in tackling the COVID pandemic. Governor SBP also said that Pakistan has significantly declined the level of its Debt-to-GDP ratio.

Governor of Sindh, Imran Ismail, addressing the summit, lauded the working of SBP under the leadership of Dr Reza Baqir. Referring to the government decision to not go for lockdown during corona virus pandemic, the governor said: “Whatever decision Imran Khan takes, at first it seems to be unrealistic or incorrect but later it proves to be right in all the aspects.”

Dr Reza Baqir in his speech said, “It’s a moment of great pride for Pakistan that we successfully controlled the global average of Covid cases.”

Former Chief of Pakistan Air Force, Air Chief Marshal Sohail Aman who is also the Chief Executive Strategic Engagements of Nutshell Group, in his address, said that nothing will happen by just discussing the existing problems, better is to go for a rational solution to the crises.

He said: “Greater the challenges are, bigger is the opportunity and it is the need of the hour to exhilarate the impetus of motivation among the organizational workforce as they will take your companies to the ultimate success.

“Collective efforts and mutual coordination is required to tackle the rising impact of the Omicron Variant”, the former PAF Chief said and added that employee empowerment in the organization is mandatory and this objective could be attained by selecting the right person for the right job.

President and CEO, Engro Corporation Ghias Khan while expressing his views during a dialogue session with CEO Jaffer Business Systems Pvt. Ltd, Veqarul Islam said: “The structured issues of Pakistan remained same in the recent years, but due to the unending wave of Covid it augmented to a much higher level.” He also said: “Technology has driven much of the segments of businesses; presence of technology and acceptance of a hybrid world is a good omen. We cannot progress unless we are fully capable of selling our services to the entire world by increasing the exports level and regional connectivity.”

Former Governor SBP and Chairperson Pakistan Stock Exchange, Dr Shamshad Akhtar said: “Climate Change needs immense attention from the global world.” She expressed her concern that the share of public expenditure for tackling climate change is not adequate. She said we need to devise effective strategies for managing the changing impact of climate and must develop a robust financing network to deal with its consequences, systematically.

Former Governor SBP also said that infrastructure development is a very important presence. Pakistan needs to double its GDP ratio for infrastructural development and we need to utilize alternative sources of energy and the right taxation schemes will prove to be fruitful in near future.

President and CEO Faysal Bank Yousaf said that we need to realize customer needs and requirements of the workforce. Empathy along with speed of the change and the external partnership is very important.

CEO K-Electric Syed Moonis said: “We need to tell Karachiites that the ‘K’ in K Electric is not Karachi, it actually explicates ‘Kinetic’. KE’s jurisdiction is beyond the scope of the Karachi itself and so its dominion for power generation is automatically much larger. The future is digital. The power utility has come a long way in incorporating this aspect on a routine basis and the KE app is a testament to that - a model that should be emulated by other DISCOS nationally.” In the coming few years 25% of all power generation will be drawn from renewable resources. KE is a strong advocate of such a move as this will stimulate a reduction in carbon emissions, KE CEO added.

Speaking on the occasion, Chairman Martin Dow Group, Ali Akhai said, “This Summit comes at an opportune time when the global playing field has a new environment with new rules. The Summits’ theme - “What’s Coming Next” is possibly the most important subject for the next 10 years, as it addresses life in the new world as we know it. There’s a lot to debate, and even more, to accept the realization of change.”

Ali Akhai also said, “Today, after 2 years of the pandemic, the change continues, and has become a constant part of the new normal. Importantly what’s Coming Next is a higher standard of competition in quality, localization, consolidation, digitization, adaptability, and of course, rapid & constant change.”

Copyright Business Recorder, 2022

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