Page 15 - Pakistan Link - October 20, 2023
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COMMUNITY                                                                                                            PAKISTAN  LINK - OCTOBER 20, 2023 - P15
             n By Elaine Pasquini                                                                                             the  ambassador  noted.  “Precious  and
                  Chicago             Ambassador Masood Khan Introduces Special                                               semiprecious stones include ruby, em-
                                                                                                                              erald, topaz, tourmaline, quartz, peri-
             uring a three-day visit to Chi-  Investment Facilitation Council to US Investors                                 dot and aquamarine.” Barrick Gold, a
             cago,  amid  other  meetings,                                                                                    Canadian mining company, is already
       DMasood  Khan,  Pakistan’s                                                                                             aiming to initially extract 170,000 tons
       Ambassador to the United States, gave                                                                                  of copper and 300,000 ounces of gold
                  the  keynote  address                                                                                       every year, he added.
                  at  the  OPEN  Chi-                                                                                            “Pakistan has the expertise for man-
                  cago  conference  on                                                                                        ufacturing  semiconductor  chips  for
                  October  14,  2023,  in                                                                                     various electronic devices but does not
                  which  he  introduced                                                                                       have  the  resources,”  the  ambassador
                  Pakistan’s  Special  In-                                                                                    continued.  “It  has  substantial  lithium
                  vestment  Facilitation                                                                                      reserves,  a  key  ingredient  for  battery
       Council  (SIFC)  to  US  investors  and                                                                                production  that  would  contribute  to
       others attending the event.                                                                                            future sustainable energy solutions.”
          The “Future of Everything Summit”                                                                                      Ambassador Khan urged the Amer-
       was hosted by the Organization of Pak-                                                                                 ican sovereign wealth funds and inves-
       istani Entrepreneurs (OPEN) Chicago,                                                                                   tors in general to “invest in these proj-
       a  not-for-profit  association  dedicated                                                                              ects in Pakistan: IT, energy, mining and
       to the promotion of entrepreneurship                                                                                   agriculture – for big wins.”
       and professional excellence within di-                                                                                    Expressing optimism that abundant
       aspora  communities  in  Chicago  and                                                                                  capital was expected to come to Paki-
       the Midwest. Its membership includes                                                                                   stan from the Gulf’s public entities, the
       professionals,  entrepreneurs,  venture                                                                                ambassador  said  that  the  US  private
       capitalists,  scientists,  social  leaders,                                                                            sector  could  partner  with  those  enti-
       academics, and students.                                                                                               ties, or they could take their own ini-
         The day-long summit aimed to ex-                                                                                     tiatives.
       plore how emerging technologies, so-                                                                                      Noting that one million Pakistani
       cial and economic trends and environ-                                                                                  Americans were serving as a bridge
       mental challenges transform industries                                                                                 between  Pakistan  and  the  United
       and create new opportunities.                                                                                          States, Khan reiterated his call to the
         “Pakistan’s  Special  Investment  Fa-                                                                                expatriates to have faith in Pakistan.
       cilitation Council (SIFC) will act as a                                                                                “Invest in Pakistan and invest in the
       single  window  to  facilitate  investors,                                                                             future  of  Pakistan  and  Pakistan-US
       establish cooperation between all gov-                                                                                 relations,”  he  said.  “Pakistan  is  go-
       ernment  ministries  and  departments                                                                                  ing global beyond the region to ME-
       and  fast-track  project  development,”  equally  the  security  and  non-security  million, out of which 230 million are   “Recently,  a  memorandum  of  un- NAP,  to  Central  and  West  Asia,  to
       the ambassador said. “The core objec- dimensions.           Pakistanis. We are also part of another  derstanding  for  investment  of  $40  the United Kingdom and Europe, to
       tives of SIFC include revitalization of   In the non-security realm, he said,  overlapping ecosystem of Central and  million  was  signed  between  USAID  China, and most importantly to the
       our economy, integrating it with inter- the two sides were enhancing the space  West Asia.”  and a Pakistani American-led entity in  United  States.  Join  us,  you  are  al-
       national capital markets and ensuring  for economic partnership encompass-  Noting  the  availability  of  a  robust  Silicon Valley,” he said. “This is just the  ready there but scale up – that’s my
       steadiness and continuity of policies by  ing trade, investment, energy, climate  communication  and  data  infrastruc- beginning. The US government recog- appeal to you.”
       adopting best practices and providing  change, healthcare, education, agricul- ture  with  highspeed  internet  to  sup- nizes  Pakistan  as  a  big  and  attractive   Ambassador  Khan  expressed  his
       salutary investment milieu.”  ture, technology and people-to-people  port  a  growing  gig-economy  and  hu- market for investors in the IT sector.”  appreciation to Mr Mahmood Majeed
         Ambassador  Khan  identified  in- exchanges.              man  capital,  the  ambassador  pointed   Ambassador Khan also highlighted  and Mr Aamir Chalisa for meticulous-
       formation  technology,  energy,  ag-  “This is an ideal time to invest  out that there was exponential growth  investment  opportunities  in  various  ly  choreographing  the  events  during
       riculture,  mining  and  defense  pro- in  Pakistan  and  to  promote  Paki- in tech startups in Pakistan during the  sectors  of  the  economy  including  di- the summit and wished OPEN Chica-
       duction as areas ripe for investment  stan’s products and services in the  past four to five years.  versification of its energy mix, mineral  go even more successes in its objectives
       in  Pakistan,  noting  the  SIFC  will  United States,” Khan said. “All fun-  “In 2018 the venture capital funding  resources and earth metals and the ag- and endeavors.
       shorten  lengthy  business  processes  damental elements are in place for  for Pakistani startups was merely $10  riculture sector especially towards in-  Other  engagements  during  the
       for foreign direct investment in these  Pakistan to grow.”  million a year. Today, it should be more  creasing yields of agri-products, corpo- ambassador’s Chicago visit included a
       and other key sectors.          Emphasizing  the  potential  of  the  than $1 billion a year. Our IT exports  rate farming, dairy farms and feedlots.  meeting  with  Congressman  Jonathan
         Highlighting  Pakistan’s  strong  76- country,  especially  its  advantageous  are $3 billion,” he said. “We also have  He  also  recounted  various  incentives  Jackson (D-IL), visits with the Pakistan
       year  strategic  and  economic  relation- geographical  position  to  serve  as  a  one of the fastest-growing markets of  that  are  being  offered  to  the  busi- Student Association at DePaul Univer-
       ship  with  the  United  States,  the  am- trade  and  business  corridor,  the  am- freelancers and e-commerce.”  ness  community  under  the  investors- sity and Pakistani American commu-
       bassador stressed that the partnership  bassador  said  that  “Pakistan  is  part   Ambassador Khan thanked the US  friendly regime.  nity leaders.
       continues  and  “we  foresee  brighter  of  a  new  business  ecosystem  called  government  for  supporting  his  coun-  “Pakistan is rich in many minerals,   (Elaine  Pasquini  is  a  freelance
       prospects for its growth.” And the two  MENAP  (Middle  East,  North  Africa  try’s  efforts  to  increase  collaboration  especially copper, gold, lead, zinc, iron  journalist. Her reports appear in the
       sides have recalibrated and rejuvenat- and  Pakistan)  by  venture  capitalists.  between  US  investors  and  Pakistani  ore, coal, lithium, rare earth, bastnae- Washington  Report  on  Middle  East
       ed  their  relationship  by  emphasizing  The  population  of  this  region  is  600  firms.  site, aluminum, chromite and nickel,”  Affairs and Nuze.Ink.)


             n By Elaine Pasquini    Dr Faisal Bari on Leadership,                              They  don’t  have  the  strength  that  we  cause of poverty or lack of access. Al-
               Washington, DC                                                                   need  in  institutions.  Whether  these  though  the  18th  Amendment  which

                                                                                                Supreme  Court  or  whatever,  our  hu- in 2010 promises the right to 10 years
             r  Faisal  Bari,  associate  pro-  Education in Pakistan                           are universities, whether these are the  was  added  to  Pakistan’s  Constitution
             fessor  of  economics  at  the                                                     man resources do not have the ability  of free education for every child five to
       DLahore  University  of  Man-                                                            to do the work that they need to do. We  sixteen  years  old,  this  amendment  is
       agement Sciences (LUMS) and senior                                                       haven’t empowered people.”    not enforced, and no one has been held
       research  fellow  at  IDEAS,  discussed                                                     Moving on to the subject of improv- accountable. “For the last 13 years, not
       Pakistan’s  education  and  leadership                                                   ing Pakistan’s public education system,  a single time has any minister or prime
       crises  with  InferTalks  host  Usama                                                    Bari  said  that  all  Pakistanis  need  to  minister been put in jail for breaking
       Nizamani on his September 29, 2023,                                                      be given the skills necessary for being  the Constitution,” he lamented.
       program.                                                                                 “autonomous,  independent  individu-  “Since the 1980s…all of the middle
           Beginning  with  the  question  of                                                   als.” And these skills, he enumerated,  and upper classes…haves shifted their
       what leadership is, Bari said: “First of                                                 are “critical thinking, communication,  children  away  from  public  schools  to
       all  it’s  an  ethical  and  moral  question.                                            the ability to have and understand an  private  schools,”  he  added.  “And  the
       It’s also a question of choices.”                                                        argument.” Pakistan needs to create an  voice for public schools is almost non-
         Anyone wanting to be a leader, he                                                      education  system  in  which  individu- existent.”
       continued, must be willing to “take on                                                   als are taught to critically think about   Some 60 percent of Pakistani chil-
       that  responsibility,  burden,  whatever  Dr Faisal Bari    Usama Nizamani               “anyone’s  story  and  differentiate  be- dren attend public schools, the other 40
       you  want  to  call  it…and  to  have  the                                               tween ones that they want to follow or  percent are enrolled in private schools,
       ability  to  think  about  roles,  responsi- what you want to do,” he said. “It’s also  them.”  not and ones that are good or not,” he  the  bulk  of  which  are  called  “low-fee
       bilities, and human resources.”  necessary to know what the opposition   In addition to a crisis of leadership,  argued.  private  schools,”  which  “by  and  large
         “Building  the  correct  coalitions  is  is thinking – opposition to your ideas,  there is also a crisis with Pakistan’s in-  Bari noted that 20 million Pakistani  provide a very poor-quality education,”
       also important and the ways in which  not  necessarily  political  opposition,  stitutions  that  are  not  working,  Bari  children between the ages of five and  as do the public schools, he
       you  want  to  create  momentum  for  and  so  on  and  how  you  engage  with  said.  “They  have  been  undermined.  sixteen  are  out  of  school,  mostly  be-  (Continued on page 19)
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