Education, technology, and financial inclusion key to growth: experts

KARACHI: Federal Minister for Energy (Petroleum Division) Dr Musadik Malik on Thursday highlighted the critical role of technology in shaping the future.

“The future of progress depends on education. Without education, we have no future. We must know how many children enrol in school, how many drop out, and how many do not attend school at all. What is the quality of higher education in the country? If anything makes a difference to a nation’s progress, it is education,” he said while speaking on the second day of the Future Summit.

Dr Ishrat Husain, former federal minister and governor of the State Bank of Pakistan (SBP), noted that technological advancements are just one of the many factors making future predictions complex. There are other significant areas of concern that also contribute to this uncertainty, he added. Other speakers at the opening session expressed optimism about Pakistan’s potential to become a leader in the global economy. While the country faces numerous challenges, it also has vast opportunities. With strategic investments in human capital, climate resilience, digital transformation and sustainable energy, Pakistan can lay the groundwork for a prosperous and resilient future, the experts said.

CEO of MNT-Halan Pak BV Christos Argyriou; Investment Associate Director at GuarantCo Mohamed Massoud; CEO of NBP Fund Management Limited Dr Amjad Waheed; and Executive Director of Marketing & Corporate Communications at easypaisa/Telenor Microfinance Bank Rifah Qadri said that financial inclusion goes beyond providing access to financial services -- it is a pathway to economic empowerment. When people are financially included, they gain tools to transform their lives, enabling entrepreneurship, increasing resilience and creating opportunities that can uplift entire communities.

CEO of BankIslami Pakistan Limited Rizwan Ata; CEO of Al Meezan Investment Management Limited Imtiaz Gadar; Acting Managing Director & CFO of Pakistan Mercantile Exchange Limited Farhan Tahir; and CEO of Faysal Funds Nadir Rahman highlighted the growth potential of Pakistan’s asset management industry.

While currently only 5.0 per cent of financial assets are invested in this sector, it is projected to grow to 20 per cent within the next 5-10 years, especially with the rise of digital access to information. Offering insights on these prospects, Sajjeed Aslam, Partner at SpectrEco LLC, USA, presented a roadmap for stakeholders to foster a sustainable and inclusive future for Pakistan.

Following discussions on financial inclusion, Director & CEO of Nutshell Group Rabia Ahmad led a panel on diversity and inclusion in the workplace. Panellists included Founding Partner of SaudiX (KSA) and Founder & CEO of PXDX (UAE) Dr Rehan al-Taji; Advisor to the Rector of Kazakh National Research Technical University and Head of External Affairs at National Geographic Kazakhstan Kuanysh Taishibekov; President of TCS Private Limited Saira Awan Malik; Managing Director of S&P Global Pakistan Mujeeb Zahur; and CFO of Dawlance Farhan Akram. They discussed challenges in fostering workplace diversity and inclusion, including the overuse of AI, which could potentially hinder human-to-human interaction. The panel agreed that shifting mindsets and promoting acceptability are essential to creating inclusive and diverse work environments where teams collaborate towards common goals.