Innovation and Pakistan’s Economy

Gul Bahao Letterhead

INNOVATION AND PAKISTAN’S ECONOMY

“Without research and innovation there can be no revival of Pakistans economy”, was the gist of what the CEO of Gul Bahao had to say at a seminar held at the The Federation Of Pakistan Chambers Of Commerce & Industry (FPCCI) . The seminar entitled “Shaping Pakistan’s Capital Market”, was organised by the Karachi Stock Exchange to announce the amalgamation of all of Pakistan’s stock exchanges into one. The program was largely attended by brokerage companies and businessmen generally. Nargis Latif was in fact committing on the comprehensive speech of the MD Karachi Stock Exchange who had painted a very rosy picture of what the economy would be like in 2016. In a highly charged manner, Nargis said that she wished what Mr. Naqvi said would turn out to be true, but “Where is the spirit of entrepreneurship?”, Referring to our businessmen as hidebound, she said there is overall a lack of creativity and research. “There is little or no connection between industry and university, she lamented”.

Nargis said our businessman must take risks, he must not be bothered about what people say. Giving the example of the Chandi Technology ( a research product of Gul Bahao) she said it is made up of clean waste. Any businessman knows that waste is a relative term, that much of urban waste, being raw material for industry is sold at a premium. But she lamented how many of our industrialists would like to venture into unchartered territory by taking up a new venture like the Chandi Technology. Giving the example of the steam engine, Nargis said it was a teenager who discovered it in a very unconventional manner. It was precisely this which brought about the industrial revolution of Europe, she concluded.

There was pin drop silence throughout the time the CEO of Gul Bahao spoke. Soon after the participants of the seminar crowded around the stall put up by Gul Bahao projecting its Chandi technology, the latest edition in the world of research and innovation.