I want to reflect on the rich legacy of the PAKISTAN PAVILION, a testament to nearly two decades of dedicated effort in promoting our nation on global platforms. This year, we took a significant step forward in our preparations for the World Economic Forum (WEF) Annual Meeting 2025 in Davos. In collaboration with the Sindh Investment Department and the Karachi Council on Foreign Relations, we organized an event titled “Promoting Pakistan: Image and Investment at WEF 2025.” The event, held in Karachi and Islamabad, brought together an impressive assembly of ambassadors, dignitaries, CEOs of multinational corporations, educationists, and esteemed representatives from think tanks.
I sincerely thank the business community for their active involvement, reinforcing our shared commitment to enhancing Pakistan’s global standing. Our discussions emphasized Pakistan’s vital role in the global economy and the strategies needed for improving our image and investment opportunities at the upcoming WEF annual meeting. Together, we seek to forge a partnership between the private sector and the government, ensuring a strong narrative for Pakistan at Davos and beyond.
Dr Huma Baqai gave an excellent overview of Pathfinder’s pivotal role at Davos. She said the Pakistan Pavilion provided visitors with a glimpse of the positive developments occurring in Pakistan. This private sector initiative, alongside the Pakistan Breakfast, is no easy feat; it requires significant effort and investment. Over the years, prominent figures have attended the Pakistan Breakfast, including Prime Ministers Shahid Khaqan Abbasi, Imran Khan, and Anwaar-ul-Haq Kakar, as well as Bilawal Bhutto, Sherry Rehman, and the Chief Minister of Balochistan, all discussing key issues and attracting media attention. Bilawal Bhutto’s participation marked a notable relaunch for him at Davos, despite not holding a prime ministerial or foreign ministerial position. As a prominent Pakistani think tank, the Karachi Council for Foreign Relations (KCFR) has also been integral to this effort, uniquely representing Pakistan at Davos. Sessions held here are globally recognized, and we welcome organizations eager to showcase their contributions.
Ms Nadira Panjwani, Chairperson of KCFR, has taken the organization to new heights. She said rightly that the World Economic Forum, while influential, faces criticism for its elitist nature, which contrasts sharply with the realities of the global population. Many argue it prioritizes the interests of the global elite over marginalized communities. Discussions on issues like inequality, poverty, and climate change occur in the exclusive setting of Davos, which is often inaccessible to those most affected. Despite extensive discussions on climate change, some corporations continue harmful practices.
However, the forum remains a vital networking platform where heads of state, CEOs, and activists meet annually to address global challenges. Although dominated by major economies, developing countries work to gain visibility, with India sending high-level delegations and investing in marketing to position itself as a hub for technology and innovation. She added, “Pakistan’s representation at the summit has been limited, particularly from the private sector. The KCFR honours Ikram Sehgal for establishing the Pakistan Pavilion at Davos and highlighting the nation’s potential. She said that as we approach the 2025 Summit, we recognize the need to enhance Pakistan’s global presence.
Mr Khizar Parvaiz, CEO of the Sindh Enterprise Development Fund (SEDF), eloquently captured the collaborative spirit and forward-looking vision of this event. He acknowledged that the breakfast event is a great opportunity to highlight Sindh’s investment potential at both national and international levels.
He emphasized the Sindh Investment Department’s commitment to supporting growth through its sub-departments, which assist SMEs and manage economic zones to attract investors. He said, “Mr Sehgal, your tireless promotion of Pakistan is commendable. Please continue to represent Pakistan at DAVOS and other platforms worldwide. The Investment Department looks forward to collaborating with you to showcase Sindh and enhance our nation’s betterment” unquote.
Farhat Ali, former President of the Swiss Business Council, shed light on the business opportunities between Pakistan and Switzerland. He said, “the WEF meeting provided invaluable insights through meaningful discussions with global leaders, a profound experience that would be hard to replicate in such a short time.
However, I am disappointed by the lack of engagement from Pakistan’s government and private sector. Davos presents a unique opportunity for Pakistan to enhance its visibility, improve its global perception, and connect with investors and policymakers to boost economic growth.“
Mr Tariq Ikram has contributed to trade and development. His dedication to advancing economic opportunities reflects his integrity and earns him respect within our community. He recently reviewed the IMF’s second report, which highlights essential remedies for our socio-economic development. However, it predicts our debt for this year will reach between $122 billion and $157 billion. The IMF reports Pakistan’s exports at $38 billion, my eight years of experience tell us that we have the potential to reach $80 to $100 billion.
Currently, at $25 to $30 billion, there’s a significant opportunity for growth. Targeting specific sectors for investment can greatly boost exports, focusing our strategy on short to medium-term gains. He added that we must present Pakistan as a vibrant and profitable investment destination that fuels export growth.
Commodore (R) Sadeed Anwar Malik mentioned that India had the largest pavilion at Davos, with various Indian states, including Maharashtra, showcasing their own. He emphasized the need for Sindh to establish a pavilion at future events and remains hopeful for success soon.
His suggestions are important for KCFR and the Sindh Investment Department; Organize visits to attract international investors, utilizing lists from the Swiss Embassy and KCFR, target Key Participants including CEOs, Chairmen, and Managing Directors from relevant industries in the participant lists, and collaborate with Embassies to identify global investors.
The event in Islamabad on Saturday Oct 26, 2024 at the Marriott featured Dr Huma Baqai, Farhat Ali and myself (all who had also spoken in Karachi). The Chief Guest was Former Caretaker PM Anwaar ul Haq Kakar. Other than Senator Kakar, the speaker was Dr Faisal Mushtaq.
Dr Faisal Mushtaq, Chairman and CEO of Roots Millennium Education Group is a committed, brilliant, and persistent individual. Faisal’s farsightedness in focusing on education and human development is crucial for the country’s sustainable progress. We hope to partner with Faisal on one of the themes – Education, as we agree on the transformative power of education in fostering a resilient and competitive Pakistani workforce.
Former Caretaker PM Anwaar ul Haq Kakar spoke candidly and with conviction for the Pakistan Pavilion. His thoughtful reflections highlighted his deep understanding of Pakistan’s complex socio-political landscape and his commitment to seeing Pakistan thrive globally.
He reminded us of the layers of cultural legacy, from Alexander to the British Empire, that Pakistan carries. He stressed that nations thrive by integrating these influences to foster progress, emphasizing how faith and cultural appreciation can be paths to enlightenment when free from dogma.
I am glad that he reaffirmed the importance of social order and the military’s stabilizing role, viewing governance as a social contract balancing rights and responsibilities. He advocates for a reflective democracy – one that is dynamic and evolving rather than rigid. His thoughts on gratitude resonate deeply.
Noting how positivity emerges from genuine thankfulness, he reminded us that, even amid challenges, gratitude transforms our perspective and impacts those around us. He drew an insightful comparison highlighting China’s economic transformation. He noted how China’s private sector—not just state intervention—drove its growth into a global economic power.
I support his view that Pakistan’s government should prioritize security and growth while letting the private sector lead economically. Pakistan is located at the centre of a region with 5 billion of the world’s 8 billion people, surrounded by China, India, and much of Southeast Asia and Africa. It has significant resources, including the second-largest copper and gold reserves, the third-largest coal reserves, and substantial cotton, milk, and rice production.
Moreover, Pakistan has developed nuclear capabilities for national security. I’ve learned that, like China and Singapore, some freedoms must be sacrificed to maintain social order. For 36 years, I have advocated for democracy and the rule of law—not just its wording but its spirit. It’s easy to focus on legal details, but the essence of the law is what truly matters. Today, we must learn from China, it exemplifies adaptation and success, while Russia’s failure to do so contributed to the Soviet Union’s collapse. The Soviet Union prioritized “Glasnost” over “Perestroika,” whereas China did the opposite. Now, Russia is returning to “Perestroika.”
At my home in Angoori, about 35 minutes from Islamabad, we launched an auditorium for 150 people. It was heartwarming to hear the National Anthem sung by 120 college students and faculty members. I believe the future of Pakistan lies in our youth, and it’s crucial to nurture their talents. I also want to invest in the youth of Pakistan as they are the asset and future of Pakistan. I recently visited Lawrence College Ghora Gali, where we focused on different values and did not give education the importance it is now give. We had representatives in various sports, the national teams however swimming was a challenge due to the lack of a swimming pool.
To address this, I donated a swimming pool, which excited the students who had long dreamed of it. I am also grateful for the support from my staff and the Providentia Book Foundation, especially as we’ve been able to create libraries for underprivileged children.
I was inspired by the Indian business community in Davos, which had about 180 members compared to just five from Pakistan. Only Mr. Hussain Dawood consistently supported our country, while many others spend lavishly abroad but hesitate to invest in Pakistan’s initiatives.
The Asaan Mobile Account (AMA) has gained global attention from the World Economic Forum, highlighting its potential in Pakistan. Despite progress with a new generation at the State Bank pushing for change, challenges remain. Initially, 80% of the Pakistani adult population lacked bank accounts; that figure has now decreased to 70%. Women’s financial inclusion has also increased in the number of bank accounts from 18% to 38%.
Our participation in Davos has been an opportunity to showcase Pakistan in a way that has never been seen before redefine narratives and foster partnerships that uplift our nation. We have worked to build partnerships for prosperity. I am fortunate to have hosted the PAKISTAN BREAKFAST for the past 20 years and now being involved with the Pakistan Pavilion. I remember the late Mr. Javed Akhai, who encouraged me to establish the Pakistan Pavilion. We contacted many Pakistani business leaders; some agreed, others declined, and a few showed partial interest. Only a handful were truly willing to invest, while many preferred spending the same amount on a single event rather than contributing meaningfully to the country.
The events in Karachi and Islamabad marked the beginning of what we envision as a broader initiative. These events provided a glimpse into Pakistan’s vision for Davos 2025, where the Pakistan Pavilion will continue to reflect the nation’s aspirations and progress, drawing global attention to its potential as a key investment destination in the region.
IKRAM SEHGAL
