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Thursday March 28, 2024

System and those running it need to be corrected: Malik Riaz

Bahria Town chief gets Leadership Performance Award in CEO Summit; CEOs, ambassadors term Pakistan a potential business leader

By our correspondents
August 27, 2015
ISLAMABAD: Chairman Bahria Town Malik Riaz said that environment for business community can never get better unless the system, and those who run the system, get better.
He was addressing the ‘CEO Summit Asia 2015’ themed ‘Believe in Pakistan’ here Wednesday.
He suggested 50 percent reduction in taxes, removal of Rs5,000 and Rs1,000 notes from the market and decrease in tax on money transaction to reduce corruption and encourage the business community.
He said the powers that cannot come out of crises cannot progress. He said Pakistan needs leader and not rulers. He said many problems will resolve once dams are built in Pakistan. He said 80 million children do not go to school and 40 million are short of food. He said he has been doing business in Pakistan for 40 years and things could not come on the right track until system is improved.
Malik Riaz was given Leadership Performance Award 2015 in the summit.
Bahria Town is the top real estate developer in the country, contributing to construction industry, offering jobs on a large scale and paying due taxes. It has won 10 international awards of Asia Pacific International Property Developer. It has been mentioned in leading media of the world and it offers a luxurious lifestyle to its customers. Its progress is due to the vision and revolutionary leadership of Malik Riaz. Newsweek in its 23 February 2008 issue carried an article “Safe Behind their Walls” that declared facilities provided in Bahria Town projects as far more than provided to gated communities in US and Brazil. Los Angeles Times had advised the government to follow in the footsteps of Bahria Town projects.
Leaders from Pakistani business community shared their experiences and gave suggestions to further boost Pakistan’s economy at the summit. The much awaited summit was organised by CEO Club Pakistan and Manager Today on Wednesday. Chief executive officers of national and international companies, ambassadors, parliamentarians and academicians attended the summit. Jang Group was the media partner of this unique initiative.
In their motivating talks during different sessions, the speakers predicted a bright future of Pakistani economy. They acknowledged the efforts of the government and military leadership in improving the law and order situation in the country and said that it has greatly enhanced the faith of investors. They stressed for public-private partnership in the critical areas of development.
The event also featured launching of the first international edition of the best-selling book ‘100 Performing CEOs, Leaders and Companies of Pakistan’. The book highlights one hundred success stories of Pakistani CEOs working on national and international level, surmounting all the difficulties and casting a softer image of Pakistan.
Speaking on this occasion, Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi reiterated the resolve of the government to put the country’s economy on the right track. “The government has a lot of inertia and way of thinking. All we need to understand is that money is not patriotic. It flows to the place with more opportunities,” he said.
Speakers made interesting comparisons to prove their point. Chief executive for Pakistan–Mitsubishi Corporation Kimihide Ando compared dynamics of Pakistan and Japan. He said that after Second World War in 1950, Japan’s GDP per capita was equal to the GDP per capita of Pakistan today with same population dynamics as that of Pakistan.
“Today, the GDP per capita of Japan has increased 115 times as compared to 1950. The only difference was that in 1950, the literacy rate of Japan was 98 percent with 86 percent high school enrollment. This clearly shows how we were able to capture the opportunities,” he said.
CEO Descon Oxychem and Descon Chemicals Aamir Niazi made an inspiring speech highlighting the resilience of Pakistani economy even in the worst of circumstances during recent past. “As a student of history, I can assure you that economy of any country could have collapsed in such situation but Pakistani economy survived all the odds,” he said.
He mentioned the recent research of Harvard University in which Pakistan is ranked third in the list of 12 countries that would prove to be most vibrant economies in the next century. He suggested the government to double the tax base, improve accountability and transparency, publically prosecute the corrupt and bring politically vulnerable segments of the society into the mainstream politics.
Minister of State and Chairperson Benazir Income Support Program (BISP) Marvi Memon urged the business community to join hands with the government in improving social security net. “If we ‘Believe in Pakistan,’ we need to create excellence where ever we are,” she said.
Marvi also stressed the need for inclusive development. She shared achievements of BISP with the participants. She said that through this program, the government was able to give identity to millions of women through registration of National Identity Cards, a basic requirement to apply for the BISP. “It has empowered women within the households as the money is issued in the name of women. As a next step, we are reaching the families, especially children through this program.”
Talking about Corporate Social Responsibility, Marvi urged business community to get benefit from the poverty data available on the BISP website and help poorest of the poor. She suggested them to invest in education and health sector. She said that BISP plans to create a network of BISP sisters. “One day we will also be publishing a book on women who rose from poverty and created an impact on the lives of their families and community,” she said.
The summit also featured three panel discussion entitled ‘Pakistan-A Land of Opportunities’, ‘The Path to Prosperity,’ and ‘Entrepreneurship: Future of Pakistan.’ CEOs and ambassadors of different countries participated in the discussion.
Besides, shields were presented to the CEOs and summit partners including Relationship Sales Leader for Gulf Lenovo Middle East Africa Jason Birkett, Chairman CEO Summit Asia Sajjad Saleem Hotiana, Chief Executive for Pakistan –Mitsubishi Corporation Kimihide Ando, Managing Director Jang Media Group Sarmad Ali and others.
Speaking on this occasion, Japanese Ambassador Hiroshi Inomata, Turkish Ambassador Sadik Babur Girgin, Ambassador of Thailand Tomwit Jarson, Ambassador of Bosnia and Herzegovina Nadim Makarevic, and Economic Counselor of United States Embassy Rob Garverick termed Pakistan ideal destination for investment because of its strategic location, natural resources, agricultural products and cheap labor.