Karachi, November 15, 2023: The 7th Edition of THE FUTURE SUMMIT (TFS) commenced with a full house at a local hotel in Karachi.
THE FUTURE SUMMIT is co-hosted by Nutshell Group and HBL, and powered by Unity Foods Limited, in strategic partnership with the Overseas Investors Chamber of Commerce and Industry (OICCI) and CORPORATE PAKISTAN GROUP.
The inaugural session showcased an impressive lineup of public and corporate leadership with Mohammad Ali, Caretaker Federal Minister for Energy, Power & Petroleum; Maj Gen Shahid Nazir, HI (M), Director General Strategic Projects, Pakistan Army; Farrukh Amin, CEO, Unity Foods Limited; Lasha Tabidze, Global Chief Digital Officer, VEON; Dana Al Salem, Global Tech Entrepreneur, Investor & Innovation Expert; and Amir Paracha, President, Overseas Investors Chamber of Commerce & Industry (OICCI).
Addressing the audience, Mohammad Ali, Caretaker Federal Minister for Energy, Power & Petroleum, stated, “All of us would have different recipes to solve our problems. Policy makers cannot handle all the issues in one go. We need to have a policy framework; research says institutions cannot fix a system without economic independence. So, the two core objectives that Pakistan needs to focus on are exports and the formalizing of the economy.”
In his welcome address, Muhammad Azfar Ahsan, Founder & CEO, Nutshell Group & Pakistan’s Minister of State for Investment (2021-22), highlighted the role of platforms like TFS for strengthening Pakistan’s image and thanked all the collaborators for believing in the vision for the country’s future.
Farrukh Amin, CEO, Unity Foods Limited, said, “Pakistan has survived massive economic challenges; be it the post-COVID crisis or the floods in 2022. I believe Pakistan has the potential to be a part of The Big Picture because we are the world’s largest producer of rice, cotton, wheat, and various other natural resources. Foreign investors can invest in the agriculture sector, as we are not just producers but also innovators.”
Amir Paracha, President, OICCI, advocated the importance of creating a conducive business environment. He said, “The challenges of today will be the opportunities of tomorrow and we have witnessed the unwavering dedication of international investors in the past years. The population we view as a liability, especially our youth population, is our asset, which will pay dividends in the future.”
Elaborating on the green initiatives by the Pakistan Army, Maj Gen Shahid Nazir, HI (M), Director General Strategic Projects, stated, “The Pakistani Army recognizes the crucial role of eco-friendly practices in safeguarding our country’s natural heritage. We are committed to implementing green initiatives that minimize our ecological footprint and contribute to a cleaner, greener Pakistan.”
Lasha Tabidze, Global Chief Digital Officer, VEON, shared his experience of being in Pakistan, “Our strategy is aligned with a purpose. We want to be together with our community and consumers in collaboration with the government and private sector, delivering digital goods to the Pakistani nation. We want to empower entire communities by providing digital solutions, especially digital financial services and creating ease of access for the consumers.”
Dana Al Salem, Global Tech Entrepreneur, Investor & Innovation Expert, commending the efforts of the organizers. She said, “We have learned that one person may not always change the world in entirety, so collaborative efforts are needed for bringing revolutions to change lives, and this gives us the purpose that leads all great movements.”
The inaugural session was followed by a session titled “The Way Forward,” which comprised an interesting conversation between Mohammad Shoaib, CFA, CEO, Al Meezan Investment Management, and Dr. Ishrat Husain, former Federal Minster & Governor, State Bank of Pakistan. The conversation delved into Dr. Ishrat’s newly launched work “Development Pathways: India, Pakistan, and Bangladesh 1947-2022.”
The first half of day one concluded with a panel discussion titled “CEOs Dialogue – THE BIG PICTURE: Finding the Bright Spots.” The panel moderated by Saquib Ahmad, MD, SAP Pakistan, Iraq & Afghanistan, included noteworthy speakers, namely Yousaf Hussain, President & CEO, Faysal Bank Limited; Zeeshan Sheikh, Country Manager Pakistan & Afghanistan, International Finance Corporation; Ahmed Khan Bozai, Managing Director & City Country Officer, Citibank; Dr. Amjad Waheed, Chief Executive Officer, NBP Funds; Syed Amir Ali, Deputy CEO, Meezan Bank Limited; and Fatima Asad-Said, Chief Executive Officer, Abacus.
Yousaf Hussain, President & CEO, Faysal Bank Limited, elaborated on the essence of discovering what works, “In every situation, there are glimmers of hope and achievement. We should learn from success and leverage these insights to drive progress. It is about identifying successes, replicating them, and catalyzing transformative change.”
Summarizing the discussion, Saquib said, “Amidst challenges, finding the bright spots isn’t just about optimism; it’s about recognizing and amplifying the sources of inspiration and success. Highlighting and scaling small successes can lead to significant and impactful outcomes.”
The post-lunch session titled ‘Sustainability, Climate Change & Decarbonization,’ comprised an individual address and a dialogue, which aimed at inspiring and catalyzing action toward a more sustainable future by addressing climate change and promoting decarbonization efforts across different sectors and communities.
Bruno Olierhoek, Founder & CEO, Ubuntu Advisory & Consultancy, elaborated on the essence of a sustainable future, “Climate change knows no borders; it’s a global challenge that demands united action. Decarbonization is the key to a cleaner, greener, and more sustainable tomorrow.”
Sajjeed Aslam, Partner, Spectreco LLC, USA, moderated the panel discussion titled ‘Industry Leaders Dialogue.’ Naz Khan, Principal Country Officer, International Finance Corporation, Pakistan; Syed Moonis Abdullah Alvi, Chief Executive Officer, K-Electric Limited; Asif Jooma, Chief Executive Officer, Lucky Core Industries; Umar Ahsan Khan, Chief Executive Officer, Dawlance; Amir Shehzad, Director, Unity Foods Limited; and Talha Khan, Executive Director, Pakistan Environment Trust; participated in this discussion.
Syed Moonis said, “It is crucial to integrate renewables into our energy mix for an affordable and sustainable future in Pakistan. KE setting a target of 30% renewable energy by 2030 marks a substantial stride towards securing a sustainable energy future for Karachi.”
Asserting the need for futuristic initiatives, Amir stated, “One of the challenges I feel developing economies today face when they move to sustainability is the understanding of the return for the stakeholder especially in the first few years because those economies are taken as high risk.”
“Looking at decarbonization, we don’t have to reinvent the wheel, rather plug ourselves into the models that already exist globally. I do understand there are nuances to accessing the capital, but we can just tweak our placements accordingly,” said Talha.
To provide insights, strategies, and actionable takeaways for leaders facing disruption, and leading their organizations toward sustainable growth and success, Ron Thomas, Managing Director, Strategy Focus Group, USA & UAE, engaged esteemed panelists in a dialogue titled ‘Leadership & Strategy in the Age of Disruption.’ Rizwan Diwan, Director, Gatron Industries & Executive Director, Novatex Limited; Saira Awan Malik, President, TCS Pvt Limited; Asif Peer, Chief Executive Officer, Systems Limited; Sami A. Wahid, Managing Director; Mondelez Pakistan Limited; M. Haroon Qassim, Managing Director, PharmEvo & Shield Corporation; and Sidra Iqbal, Broadcast Journalist & Positive Change Activist; had a very insightful and thought-provoking conversation.
Saira shared the importance of disruptive leadership, “The era of disruption calls for leaders who dare to challenge the status quo, who see adversity as an opportunity, and who lead with courage and innovation.”
Sami reiterated the fact that “Leaders need to have a productive paranoia, working out possibilities that can go wrong, and then working on strategies to address those possibilities.”
The day concluded with another panel discussion, ‘Forging the Future,’ which was moderated by Saquib Ahmad. The participants of the discussion were William Bao Bean, General Partner, SOSV & Managing Director, Orbit Startups; Nathan Sivagananathan, Partner, Taprobane Seafoods (Pvt) Limited & Co-Founder, Orbital Energy Pte Limited; Konstantin Makarov, Senior Executive Officer, StratLink, Middle East & Africa & Adviser Vantuyl Companies & Roth Capital Markets; and Janchai Nambutr, Vice President, Heritage Funds LPF.
Nathan commented during the discussion, “The global slowdown was working against us, alongside soaring interest rates and the two wars that happened. Last year, we took a regional approach, and invested USD 30 Million in aquaculture in Pakistan, thereby diversifying our risk.”
William had some interesting insights to share with the audience, “In Pakistan, white-collar men spend 10% of their income on commuting to work, while women spend 40% so they can do the same without being harassed. We invested in a company called Bus Karo; they provide women safe transportation with vetted drivers.”
TFS stands as a beacon of collaboration, innovation, and vision. Today’s discussions and engagements have laid a strong foundation, setting the tone for the transformative journey ahead. From captivating keynote addresses to engaging panel discussions, the day has been a testament to the power of collective insight and partnerships.
About Nutshell Group:
Nutshell Group is a combination of three distinct initiatives – Nutshell Communications, Nutshell Conferences, and Nutshell Solutions.
THE FUTURE SUMMIT 7th Edition-Discussing Challenges, Exploring Opportunities
