Dear Readers,
Held every year the World Economic Forum’s (WEF) Annual Meetings are truly unique, being totally impartial and aiming to drive positive change. Since 1971, politicians, business leaders, academics, journalists and representatives of civil society have been travelling to the Swiss ski resort of Davos, the town immortalized by Thomas Mann in his novel The Magic Mountain. The 2020 Annual Meeting ended recently on January 24, its overarching theme was “stakeholders for a cohesive and sustainable world.” A number of sessions covered the breakdown in trust, probed globalization’s short comings and underscored the need for companies to think not only about investors but also the planet, employees, and the communities in which they operate. While no company, institution or individual alone can address the economic, environmental, social and technological challenges of a complex, interdependent world, with every passing year, there is a growing belief that no other organization in the world has the power to mobilize a diverse group of stakeholders around a common cause like the WEF. While the WEF has traditionally organized stakeholders into projects to generate insights around various issues and to test solutions in both countries and industries, these two initiatives are very much outcome based as the WEF looks to flex its considerable muscles to bring about meaningful change for our planet. Davos and the WEF continue to lead the way in affecting positive change and delivering on their mission of improving the state of the world. Unfortunately Pakistan has been missing out from the benefit to be derived from the huge potential of Davos. For the benefit of readers my article titled ‘PAKISTAN PAVILION AT DAVOS’ is reproduced below.
Organised since its inception in 1970 the World Economic Forum’s (WEF) Annual Meeting at Davos brings together world leaders of government, economy, technology, etc. to discuss how globalization is creating global problems and threats that exceed the management abilities of national governments. This year the Annual Meeting 2020 was held from Jan 21 to 24 with more than 3000 participants attending.
Davos is a unique opportunity to showcase Pakistan, unfortunately attendance by federal government high-ups has been negligible to the detriment of Pakistan because they missed a huge opportunity to inform global investors about the prospects of investment in Pakistan and remove misconceptions about the country. The burden thus fell on the shoulders of a handful of Pakistani entrepreneurs to do their bit for the sake of their country. In this they have been quite successful, particularly in removing some of the negative perceptions about Pakistan, but this is not enough, much more needs to be done.
The PATHFINDER GROUP has been a regular participant at the WEF Annual Meetings since the last 18 years, in the process it has taken many initiatives on its own to project Pakistan in favourable light. Since the last five years it has been joined in its undertaking by MARTIN DOW GROUP, thanks to the foresight of its late founding Chairman M. Javed Akhai, a Pakistan wanting to give back to it. Because of his untimely death, his son Ali Akhai and daughter Arum Shajani have remained true to their father’s spirit and commitment.
As during past years the two Groups are undertaking projects that ultimately be beneficial to Pakistan by presenting an account of what Pakistan is all about. Debuting in 2018 among the wealthy elite participating in the WEF Annual Meeting, the representative Pakistani Pavilion opened for the third year straight on Jan 22, 2020 at the Hotel Panorama. This unique private sector initiative in 2018 was a smallish affair in the same venue, an experimental walk-in affair where Pakistani businessmen/officials from various sectors (financial services, IT, media, philanthropy, etc.) were available to discuss and interact with guests. Speakers from Pakistan with expertise in their given fields spoke about Pakistan’s economy, gender empowerment, law and order situation, among other topics. In 2018 Dr. Ishrat Husain former Governor State Bank of Pakistan had journeyed to Davos at the invitation of Chairman Pathfinder Group Ikram Sehgal and Chairman Dow Martin Group, Javed Akhai where he spoke about the challenges and opportunities in Pakistan to a rapt audience. At a dinner at the Schatzalp among those who spoke were Shabbar Zaidi of Ferguson, Dr. Daniel Ritz of PTCL, Jerry Torres of AES Torres (USA), James Rubin former U.S Press Secretary to the President, Dr. Marc Siegel of California (USA), Dr. Huma Baqai, Sidra Iqbal, Aamer Mahmood of CPNE, Ambassador Zamir Akram, and many others. This event proved to be a success and has been continuing every year since.
This year the Pakistan Pavilion 2020 held a number of chat sessions and get-togethers highlighting various favourable aspects of Pakistan. A chat session “Economic Reform and Revival, Financial Inclusion in Pakistan” was held on Jan 21 aiming to highlight the country’s ongoing economic reforms, the successful initiatives taken (and being contemplated) for economic revival, as well as the significant measures taken to enable “financial inclusion”. This was moderated by Zarrar Sehgal, Co-Chairman of the family-owned Pathfinder Group, also a Young Global Leader (YGL) at the WEF since 2010 and Co-Head of the New York Asset Finance Group. Another chat session titled “A Digital Agenda to shape Pakistan’s Future” Jan 22 where world renowned thought leaders and experts from Pakistan’s private and government sectors who have delivered successful digital transformations across the world in several industries highlighted salient features of Pakistan’s digital agenda for execution of a successful digital transformation and its potential impact on Pakistan’s economic outlook. This was moderated by Dr. Aftab Rizvi, CEO Risk Associates, the first ever Security Auditor of Pakistan registered with Electronic Certificate Accreditation Council (ECAC) and deemed a visionary for a secure Digital Pakistan. A get-together on Jan 22 discussed “Corporate Social Responsibility force-multiplying Gender Empowerment, Education and Philanthropy in Pakistan”. Moderated by Dr. Aftab Rizvi. At every chat-sessions and get-togethers discussants with special knowledge and expertise in the topics being discussed were in attendance, asking questions and giving their input. A get together over tea on Jan 22 discussed the key issue of ‘Women, Leadership & Technology” that was moderated by Sadaffe Abid, Founder CIRCLE Women Association, a social entrepreneur working on women empowerment and inclusion. Women are under represented in leadership roles particularly in STEM. Discussants expressed their views on how some cutting edge initiatives in emerging economies can bring more women into leadership and technology. On Jan 23 another get-together discussed the economic and geopolitical impact because of the “China Pakistan Economic Corridor (CPEC) and the BRI”. The discussion highlighted the “game-changer” aspect by generating numerous business and employment opportunities for local citizens as well as international outreach. CPEC as a physical crossroad will significantly function as a bridge between regions (South and Central Asia with the Middle East and Europe). Moderated by Ikram Sehgal, Chairman Pathfinder Group that consists of six companies in the “Security Services Division” (SSD) and three companies in “Financial Services and Technology Division” (FSTD). A Foundation Member of World Economic Forum (WEF), Switzerland for 25 years, he is also the author of 10 books. The ultimate aim of the Pakistan Pavilion is to project the soft and positive image of Pakistan, the actual narrative of Pakistan and to try and sell Pakistan’s turnaround story to lure potential investors as much as possible.
The Pakistan Breakfast is another event, for the 19th time straight at Davos 2020 for the President of Pakistan, the Prime Minister or a prominent Pakistani. Prime Minister Imran Khan very kindly acquiesced to be the Chief Guest at this event on Jan 23, 2020. This was a unique opportunity for the PM to present his vision of Pakistan and provide a sound analysis of the situation prevailing in Pakistan. He interacted with dozens of important guests/ mover and shakers who had taken time out to attend. Funded by private corporate entities the Pakistan Breakfast has become an integral part of the WEF Annual Meeting and a much sought after event. This has been a successful platform for current and past leaders providing them with an opportunity to talk about Pakistan in an informal setting, without the constraints of red tapism. Pakistan continues to face a serious crisis of image internationally, the Pakistan Breakfast has been successful to a point in dispelling the negative perception, it also serves as an attractive venue for investment. In the past the Pakistan Breakfast has been graced by former Prime Minister Shahid Khaqan Abbasi, Chief Minister Balochistan Jam Kamal Khan, former Chief Justice (CJ) of Pakistan, Mian Saqib Nisar, Lt Gen Asim Bajwa, former Commander Southern Command of the Pakistan Army, former PM Mian Nawaz Sharif and former Finance Minister Ishaq Dar. PM Imran Khan’s presence at Davos is a God-given opportunity to dispel negative perceptions about Pakistan.
There should be no doubt that Davos presents a huge potential for Pakistan, it has never been adequately represented at this form in a regular basis. It is about time that this unique opportunity is utilised for the benefit of Pakistan.
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