Deputy Chairman Planning Commission Dr Nadeem-ul-Haq said on Wednesday that there is a need to develop a culture of investing in communities. He also said that growth will take place only when we have a climate conducive to competitiveness. Deputy Chairman was addressing the third International Conference on Business Management (ICoBM) 2013 organised by the University of Management and Technology (UMT) through video link.
In his incisive analysis of the competitiveness of the Pakistani economy, Nadeem-Ul-Haq, pointed out that we have no entrepreneurship in the country and no competitiveness except for a few individuals are beacons of success. Dr Nadeem-ul-Haque said that we have over 130 universities in the country but few people are aware of the framework for economic growth in the country.
The involvement of the academia in the economic framework for development is essential if we are to achieve any measurable level of progress. That is why the academia has been asked to give their input through research proposals. By definition, universities and academia are a curious body of people; they ask questions and work towards solutions.
Dr Nadeem-ul-Haque said we have to compete globally. But we must learn to invest in communities and build cities. He said that conferences like the present one will yield results only if we undertake serious civil service reform and work with government to conduct research geared towards reform and entrepreneurship.
Professor Dr Christine Ennew, Pro-Vice Chancellor, University of Nottingham, gave the keynote address through video link. She focused on the beneficial impact of international higher education on societies. She said that globalisation is not something new in education; scholars have always been on the move and knowledge knows no boundaries. What is new is the scale and diversity in international higher education. The major benefit to the host institution lies in the enhanced capacity of working with the best global talent. There has been unprecedented expansion in the growth of international higher education from 1970 onwards.
She said that most successful economies in the world are capturing some of the best global talent. She emphasised the point that economies benefit from international higher education. As the academic institutions compete to attract the best talent, the ability to contribute to knowledge economy increases. Direct financial advantages accrue and more funding becomes available for research and development. Dr Christine said that the global talent pool of foreign students drives international competitiveness and leads to solutions of global problems.
Speaking on the occasion Rector UMT Dr Hasan Sohaib Murad said that economic productivity and competitiveness go hand in hand. Productivity covers factors that influence competition and competitiveness is the overarching point of reference for nations looking for a competitive advantage to attract direct investment. The competitiveness of organisations builds competitiveness of nations and of regions. And in the past two decades, nations have become competitive and made solid progress. Sadly, Pakistan is not counted among such nations.
Dr Hassan said that in 2013, Pakistan was ranked 124 in order of competitiveness out of a total of 144 countries - below even Ethiopia and Uganda. Is this our capacity? Is this what we are worth - a nation endowed with abundant natural resources, strategic location and a young population ready to enter the workforce. Dr Hasan said that we are located in the midst of a region that is growing; India, China, Saudi Arabia and the Middle East have burgeoning economies. Dr Hasan said that the demographic advantage of Pakistan - 120 million of its 200 million plus people are young - should be put to good use and it is the prime responsibility of the academia to tap these human resources and increase competitiveness of Pakistan.
Dr Hasan concluded by saying that it is time to take Pakistan to a global level of a competitive and knowledge-based society. The SME sectors should be the focus of our attention. He expressed hope that the 3rd ICoBm 2013 will pave the way towards collaborative efforts in this direction. He added that many young management scholars of UMT are presenting in the conference as well and this bodes well for the future.
Welcoming the delegates, Dean UMT School of Business and Economics and Conference Chair Dr Faheem ul Islam said that third International Conference on Business Management has now become a successful annual forum for UMT, SBE and partner institutions. Elaborating upon the changes that have taken place at SBE since the last conference, Dr Faheem ul Islam said that we are living in an era of accreditation. He said that first peer review by HEC yielded 91 percent score for SBE. He added that SBE received a score of 94 percent from AMDISA for SAQS accreditation. The School has the strongest PhD programme with 106 full-time management scholars.
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