Lahore, PK – 11 September 2023 – In a landmark event that brought together business leaders, economists, and experts, Pakistan’s ongoing economic crisis and its far-reaching impact on businesses took center stage. The discussions at this gathering delved deep into the root causes of Pakistan’s economic challenges and explored strategies for lasting prosperity.
The opening session set the tone by critically analyzing Pakistan’s economic crises. Annum Asad Malik, CEO of AceBiz informed the participants that this is the first event of a 12-event series that will look into the solutions that the citizens and business leaders can create, and cultivate for a stronger and prosperous Pakistan.
Attendees examined the multifaceted factors contributing to the crisis, and the pressing question of whether Pakistan could emerge from its current predicament within the next five years was addressed. Questions were raised and answered, shedding light on the complexities of the situation.
A panel of distinguished experts guided this session, Leading the discussion, Amir Jahangir, CEO of Mishal Pakistan, the Country Partner Institute of the World Economic Forum in Pakistan. Jahangir underscored Pakistan’s youthful population as a strategic asset for the future. He discussed the nation’s conscious efforts to partner with countries that can leverage its young and dynamic workforce, setting the stage for a bright future. Jahangir shared that Pakistan had a very young population at its creation and independence. The country had almost 32 million people with an average median age of 15. Pakistan today has over 250 million people with a median age of 22 years. The next 50 years will be very productive for Pakistan, as Pakistan will be host to one of the youngest and most productive populations in the world.
He further said, that Pakistan is making a conscious decision to partner with nations that can benefit from its young and dynamic population, while the country can provide infrastructure and know-how on the technical side. This unique combination has set a very bright future for Pakistan and its new partners.
He further said Pakistan needs to break the hegemony of the elites and industry cartels. Who has exploited the natural resources and opportunities of the nation for their personal and petty interests? He further said policies in Pakistan need to be transparent, and the leadership should be made accountable, so that competence and merit can prevail.
Iftikhar Taj, President and CEO of ICAP emphasized the critical importance of taxation as a significant challenge during his address. He highlighted that addressing taxation issues is vital for Pakistan’s economic development and sustainability. Dr. Hassan Iqbal, Former Secretary to the Government of Pakistan, raised a key concern regarding policy inconsistency. He underscored the need for greater policy coherence and continuity to drive economic growth and development effectively.
The second session shifted focus to potential solutions for Pakistan’s economic challenges and explored the pivotal role of the business community in driving the country toward prosperity. A dynamic panel of experts shared their insights, best practices, and visions for the future of Pakistan’s economy. The panelists included Anwar Kabir, Husnain Anjum, and Hassan Farooq. Each panelist brought a wealth of experience in economics and development, offering valuable perspectives and strategies to address Pakistan’s economic challenges.
A special session of the event was dedicated to addressing the critical issue of affordable housing in Pakistan, emphasizing the need for solutions that cater to both the rich and the poor. Behind the scenes, a dedicated team from AceBiz worked tirelessly to bring this event to life. Their efforts in logistics, content curation, and coordination were pivotal in making the event a reality. The event was organized in collaboration with the Lahore Chamber of Commerce and Industry. The event was sponsored by the Alkhidmat Foundations Pakistan and the Al Karam City.
The discussions during the event underscored the importance of collaborative efforts to address Pakistan’s economic challenges. With a young and dynamic population, Pakistan’s future holds immense potential. By harnessing this potential and implementing effective strategies, the nation can embark on a path toward lasting prosperity.
AceBiz Talk Series is dedicated to fostering meaningful dialogues among business leaders, economists, and experts to explore solutions for pressing economic challenges. Through engaging panel discussions and expert insights, AceBiz led by Anum Asad Malik aims to contribute to the growth and development of Pakistan’s economy.
