KARACHI: A delegation from the International Monetary Fund (IMF) visited the Institute of Business Administration (IBA), Karachi, on Wednesday, where discussions were held on Pakistan’s economic trajectory.
The visit was hosted by IBA’s Centre for Business and Economic Research, facilitating an in-depth exchange of views on economic affairs between the IMF delegation and students.
IMF officials Nathan Porter and Maher Bneiky engaged in a thought-provoking discussion with IBA’s faculty and students, answering their queries regarding Pakistan’s economic challenges and prospects.
During the session at IBA’s School of Economics and Social Sciences, both sides exchanged valuable insights on Pakistan’s future economic hurdles and deliberated on the country’s financial stability and policy measures.
During the visit, Dr Asma Haider expressed gratitude to the IMF delegation, presenting a token of appreciation on behalf of IBA. She highlighted IBA’s 70-year history, its commitment to world-class education, and the university’s focus on community engagement and green initiatives.
IBA’s Executive Director & Chairman of the Board of Governors, Prof Dr Syed Akbar Zaidi, continues to lead the institute towards academic excellence and global partnerships.
According to sources, negotiations between the Ministry of Energy and the IMF mission will also be held today, and officials of the Power Division and Petroleum Division will give separate briefings. The Secretary of the Power Division, the Secretary of the Petroleum Division, and the Secretary of Finance will be present at the briefing. The Power Division will give a briefing on the performance of the discos, circular debt, privatisation, line losses, electricity bill collection, and electricity theft.
The Institute of Business Administration, Karachi, is a public university in Karachi, Sindh, Pakistan. IBA is owned by the Government of Sindh. Over the years, IBA has evolved beyond business studies, incorporating computer science, social sciences, and more. It was established in 1955 as a USAID-financed business school on the US MBA model.
The Institute of Public and Business Administration (IPBA) is one of the oldest business schools outside North America. Programs commenced in the YMCA building at Karachi with technical support from the Wharton School of Finance & Commerce, University of Pennsylvania, USA.
Subsequently, the University of Southern California established facilities at IBA, assigned American professors, and developed course contents, curriculum, pedagogical tools, and assessment methods with guidance from seasoned scholars of both institutions. In 1956, faculty was set up in collaboration with the University of Southern California, and a two-year MBA morning program started as a constituent unit of the University of Karachi. Faculty recruited in the Department of Public and Business Administration in collaboration with the University of Pennsylvania and assistance from the United States International Cooperation Administration (USICA).
In 1957, evening programs launched in graduate studies (MBA), and in 1961, IBA shifted to the Kandawalla Building located at MA Jinnah Road. Construction is planned for a campus each at Karachi University (Main) and Garden Road (City) Campus.
In 2011, IBA awarded South Asia Quality Assurance Systems (SAQS) accreditation by AMDISA. In 2014, the Centre for Excellence in Journalism (CEJ-IBA) was established through an agreement between the IBA and the US State Department.
In 2015, the Centre for Excellence in Islamic Finance (CEIF) was established at Aman Tower, and in 2023, IBA joined the Consortium for University-Based Executive Education (UNICON) as an Associate Member.
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