Page 15 - Pakistan Link - October 20, 2023

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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