A memorandum of understanding (MoU) was signed between the Institute of Business Administration (IBA) and the Jaffer Family Foundation-United Global Initiative for the construction of a state-of-the-art purpose-built academic building for the School of Mathematics and Computer Science at IBA Main Campus.
Speaking at the signing ceremonu as chief guest, Caretaker Sindh Chief Minister Justice (retd) Maqbool Baqar stressed the urgent need to invest in our nation’s intellectual capital to drive forward ambitious minds eager to make meaningful contributions to society.
Caretaker Home Minister Brig (retd) Harris Nawaz, Minister for College Education Department Rana Hussain, and other figures from civil, corporate, and educational fields were also present on the occasion.
The CM said the contribution of $1.5 million for the construction of the building was more than just financial support. “It is a significant investment in the intellectual capital of our nation,” he said and added this contribution highlighted a shared vision to empower and innovate and to propel aspiring minds forward who are eager to contribute meaningfully to our society.
Justice Baqar said that today, we find ourselves at a crossroads where possibility and progress meet. “This is a testament to the significant impact that collective dedication to education can bring about,” he said and expressed his gratitude towards the Jaffer Family Foundation for their pivotal role in reshaping the future of higher education in Pakistan.
In a data-driven world, the importance of expertise in data science cannot be emphasised enough, the CM said and added that the collaboration between the School of Computer Science and Mathematics at the IBA Karachi was an acknowledgement of the crucial role of specialised education in data science. “This collaboration recognizes that the future is being shaped by data and highlights the need to equip our students with the necessary skills to succeed in this evolving field,” he said.
The CM said that the statistics related to higher education in Pakistan revealed the challenges we were facing. “Although there has been a noticeable improvement in primary education enrolment, many students still face difficulties when it comes to transitioning to higher education,” he said and added that a significant percentage of eligible students were unable to access universities due to various socioeconomic barriers.
Speaking on the occasion, IBA Executive Director Dr S Akbar Zaidi expressed gratitude to the JFF-UGI for the generous and unwavering contribution towards the construction of the new building, which, he said, was the “largest donation a university has received in the last ten years”.
He said the contribution will pave the way for a space that will nurture minds, inspire creativity, and foster excellence. He added the new building will serve as a hub of knowledge and a centre for academic excellence.
Dr Zaidi said the IBA is testament to excellence as a public sector organization, which requires support of the government. “The IBA is a role model for public sector organisations and has developed excellent alumni,” he added.
Dr Zaidi said the continued involvement and support will remain instrumental in shaping the future of the institution. He hoped that the new building will stand as a testament to the power of collective determination and excellence in public sector education.
Mohamed Taki Jaffer, chairman of the Jaffer Family Foundation, said the contribution reflects a deep-rooted commitment to education, empowerment, and serving humanity. He said the investment in this endeavour will yield dividends beyond measure, a legacy in their belief in education as a force for positive change.
Dr Hasnain Waljee, executive director, United Global Initiative, stressed the importance of supporting the tertiary sector, saying that we are on the cusp of history in data science and artificial intelligence.
He said the new centre will not only be a beacon of knowledge but human excellence. He dismissed fears about the spread of AI as it remains a human creation and cannot outshine the creator.
