Due to effects of climate change: Country to be among worst-hit states by 2030, says Sherry

KARACHI: Federal Minister for Climate Change Sherry Rehman has warned that Pakistan is going to be one of the worst-hit countries in the world by 2030 due to prevailing wave of climate crisis.

She was addressing as guest of honour at the 6th edition of “The Future Summit” kicked off here on Wednesday. Her address focused on the dire need for corporate and business to make ESG an integral part of their vision for future.

“Pakistan is severely impacted by the floods, which have displaced nearly 30 million citizens, along with an enormous financial cost and a huge dent to the national economy,” she added. The Future Summit (TFS) was opened with a welcome address by the Founder and CEO, Nutshell Group, Muhammad Azfar Ahsan. He insisted that platforms like TFS are to build the pressure on the concerned stakeholders to be united for the sake of Pakistan. “Our foreign policy should be based on the economic interests of the country”, he suggested.

The inauguration session was addressed by Nadir Salar Qureishi Chief Investment Officer Engro Corp, Aamir Ibrahim President and CEO Jazz and Chairman Mobilink Microfinance Bank, Muhammad Aurangzeb President and CEO HBL, Jimmy Nguyen CEO Blockchain for All and William Bao Bean General Partner SOSV and Managing Director Orbit Startups.

Muhammad Aurangzeb President HBL, in his address, insisted on the need for financial support to the agri-zone and ensures the prosperity of the farmer for a prosperous Pakistan.

He elaborated that the business model in Pakistan needs to be changed in consultation 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 USD 3 trillion by 2047 from USD 300 billion. Pakistan needs consistency in policies to achieve economic growth in future, he said.

Aamir Ibrahim President JAZZ said that the telecom is not merely a sector, but it is an enabler to many sectors and a facilitator of the economic growth. Data is the new fuel in today’s digital transformation and that 4G for all is the answer to the problem. Pakistan does not need to focus on 5G for now, he said. Yousaf Husain President & CEO Faysal Bank Limited said that with the successful conversion to Islamic instruments, sustainability and resilience are crucial to ensure success and optimum outreach. “An organization must have a purpose-driven plan. It is not just a profitability factor but a social responsibility for effective leadership,” he added. Jimmy Nguyen enthralled the audience with the digital Blockhain presentation on how the AI is replacing the traditional modes and methods. William Bao Bean MD 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 USD 0 to 1.4 million in one year only.”

Leadership roles for new economic realities were explored by the panelists including Yousaf Hussain President & CEO Faysal Bank Limited, Shazad Dada, President & CEO United Bank Limited, Amir Paracha, Chairman and CEO Unilever Pakistan Limited, Zeeshan Sheikh, Country Manager Pakistan & Afghanistan, International Finance Corporation, and Maheen Rahman, CEO InfraZamin Pakistan. The session was moderated by Farrukh Khan, CEO & Managing Director Pakistan Stock Exchange.

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

Saeed Mohammed Alhebsi advisor in AI Ministry of Human Resources and Emiratization, 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, Chief Executive Officer, Systems Limited; Dr. Shahid Mahmud, Chairman & CEO, Interactive Group of Companies; Ammara Masood, Chief Executive Officer, NdcTech; Mujeeb Zahur, Managing Director, S&P Global. It was moderated by Saquib Ahmad, Country Managing Director, SAP Pakistan.

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

Copyright Business Recorder, 2023