Future Summit concludes with focus on innovation, financial inclusion

KARACHI: The 8th Edition of The Future Summit continued on day second featuring discussions on emerging issues such as the future of healthcare, financial inclusion, Pakistan's evolving financial sector, and the critical need to rethink talent strategies.

In his keynote address, Senator Dr Musadik Malik, Federal Minister for Energy (Petroleum Division) emphasized the role of technology in the evolving dynamics of the world.

He said, “The future of progress depends on education. Without education, we have no future. We must know how many children enroll in school, how many drop out, and how many do not attend school at all. What is the quality of higher education in the country? If there is anything that makes a difference to a nation’s progress, it is education.”

The speakers of the opening session, Konstantin Makarov, Senior Executive Officer, StratLink, Middle East & Africa; Strategic Advisor, Global Markets, Van Tuyl Companies & Perry Ellis International; Paul Keijzer, Co-Founder & CEO, The Talent Games and Founder & CEO, Engage Consulting; Stéphanie Kioutsoukis, CEO & Co-Founder, Fresh Solutions AI; Chun Wee, Regional Policy and Insights Lead, ACCA, believed that Pakistan has the potential to become a leader in the global economy.

Pakistan’s emerging issues, while significant present a wealth of opportunities. With strategic investment in human capital, climate resilience, digital transformation, and sustainable energy, Pakistan can lay a foundation for a prosperous and resilient future.

A much-needed conversation discussing the future of healthcare in Pakistan took place. Moderated by M. Haroon Qassim, Managing Director, PharmEvo (Private) Limited, the participants of the session included: David Heyman, Founding Partner, Andalus Holdings & Board Member, Kings College Hospital London – UAE; Johannes (Hans) Kedzierski, Chief Executive Officer, Novacare Hospital; Douglas Corley, Co-Founder, Sage Health and Co-Founder & CEO, Equity Health Foundation; Mahmoud Hatem, Vice President for Middle East & Africa, Moharram & Partners; Javed Ghulam Mohammad, Group Managing Director & CEO, Marn Dow Group.

Asserting the need to focus on making quality healthcare accessible to the masses, Javed reiterated, “Pharmaceutical access is compromised in Pakistan.

Countries like the Philippines and Vietnam have a market size of 6-8 USD billion, whereas Pakistan with a population of 250 million, has hardly a 3-billion-dollar market share in the pharma industry. The government of Pakistan has very little focus on education and healthcare, NGOs manage most hospitals and healthcare facilities in a big city like Karachi.”

Usman Yousuf, Director, Nutshell Communications; Chairman, ProPakistani; Regional Entrepreneur & Investor, engaged an esteemed panel to discuss the importance of financial inclusion. Christos Argyriou, Chief Executive Officer, MNT-Halan Pak B.V.; Mohamed Massoud, Investment Associate Director, GuarantCo; Dr Amjad Waheed, Chief Executive Officer, NBP Fund Management Limited; Rifah Qadri, Executive Director Marketing & Corporate Communications, easypaisa/Telenor Microfinance Bank, agreed that financial inclusion is more than just providing access to financial services; it’s a pathway to economic empowerment. When individuals are financially included, they gain the tools to transform their lives—enabling entrepreneurship, enhancing resilience, and creating opportunities that can uplift entire communities.

Ali Khizar, Director Research, Business Recorder, along with the panellists, Muhammad Nassir Salim, President & CEO, HBL; Rehmat Hasnie, President & CEO, National Bank of Pakistan; Ahmed Khan Bozai, Managing Director & Citi Country Officer, Citibank; Khurram Shahzad Khan, President & CEO, HABIBMETRO; Muhammad Atif Hanif, Chief Executive Officer, Al Baraka Bank (Pakistan) Limited; Imran Haleem Shaikh, Deputy CEO, Bank Islami Pakistan Limited, critically analyzed the challenges faced by the banking sector.

Rizwan Ata, Chief Executive Officer, BankIslami Pakistan Limited Imtiaz Gadar, Chief Executive Officer, Al Meezan Investment Management Limited Farhan Tahir, Acting Managing Director & CFO, Pakistan Mercantile Exchange Limited; and Nadir Rahman, Chief Executive Officer, Faysal Funds, highlighted the potential of asset management companies. Currently, the bank deposits are 5%, but the industry is expected to grow to 20% within the next 5-10 years. With information available digitally, the industry is poised for a vertical climb. Shedding light on these success stories, Sajjeed Aslam, Partner, SpectrEco LLC, USA offered a roadmap for stakeholders to build on these foundations, promoting a sustainable and inclusive future for Pakistan.

Following the sessions on financial inclusion, Rabia Ahmad, Director & CEO, Nutshell Group along with her panellists; Dr. Rehan alTaji, Founding Partner, SaudiX, KSA and Founder & CEO, PXDX, UAE Kuanysh Taishibekov, Advisor to the Chairman of the Executive Board-Rector, Kazakh National Research Technical University and Head of the External Affairs, National Geographic Kazakhstan; Saira Awan Malik, President, TCS Private Limited Mujeeb Zahur, Managing Director, S&P Global Pakistan; Farhan Akram, Chief Financial Officer, Dawlance, addressed the issues of diversity and inclusion in the workplace. It was mutually agreed that using too much AI will at one point make it challenging for humans to interact with humans.

Acceptability is another challenge, so changing mindsets will ensure inclusivity and encourage diverse work groups to work together for a common goal.

The fireside chat between Zafar Masud, Chairman, Pakistan Banks' Association and President & CEO, The Bank of Punjab, and Adnan Rizvi, Managing Partner, KPMG Pakistan highlighted the need to address structural issues through collaborative dialogue and not dictation. He said, “Banks are not against taxation, but FBR should have no intervention in their balance sheet.

Almost 86% of the deficit is being covered by the banks so the government should be thankful to the banks for providing this relief.”

Former Federal Minister & Governor State Bank of Pakistan, Dr. Ishrat Husain, N.I, H.I, author, economist, shared his concern, that it is not only the technological advancements that make future predictions difficult and complex but there are other areas of concern as well.

The closing session comprised addresses by Simon Atkinson, Global Chief Knowledge Officer, Ipsos; Prof. Mark Turrell, Founder, unDavos; CTO, Fresh Solutions AI, and CEO, Orcasci, UK; and Akif Saeed, Chairman, Securities & Exchange Commission of Pakistan.

Thanking the distinguished speakers, partners, and participants for making this summit impactful, Air Chief Marshal Sohail Aman (Rtd), Chief of Air Staff (2015-2018), said, Together, we have examined the key issues shaping Pakistan’s future — from financial inclusion and healthcare innovation to sustainable energy, digital transformation, and redefining talent. Together, let us build a future that truly matters — for us, for Pakistan, and for the generations to come.”

Copyright Business Recorder, 2024