Seminar held at FAST-NU Islamabad for promoting entrepreneurship to boost economy

Prominent politician, economist, management expert and former CEO of ENGRO Corporation, Mr. Asad Umar emphasized the importance of entrepreneurship and how crucial it is for the economy of any country. He said that the size of the world economy is $60 trillion while the size of Pakistani economy is just $220 billion, which makes a very tiny percentage of the total. The reason behind it is that Pakistan does not produce enough goods and services that are demanded by other countries. China has become a booming business force because they are producing goods that are high in demand around the world.

He was addressing to a seminar on “challenges faced by Pakistani economy and role of a young business graduate in the eyes of a business leader” organized by the Fast School of Management, Islamabad campus, to exchange experiences among various students and business leaders for formulating ideas and strategies for human resource development for economy. The seminar provided a forum for students from different departments to examine the increasingly important role of students in the context of knowledge based global economy and the current human resources situation in Pakistan. The understanding of the participants on various planning and forecasting tools for human resources development and economic growth was enhanced.

Mr. Asad Umar said the main reason behind the success of any project is passion. Pakistani society has been unable to understand the real key driver behind the success of the business. It is vital for the workforce to share the company's vision and passion. Only then a business can achieve real success. He urged students and citizens to think out-of-the-box and come up with new business ideas.

Mr. Muhammad Hafeez-ud-Din Asif, former Member Finance Oil & Gas Regulatory Authority (OGRA), said that today's entrepreneurs should think globally. He said that business graduates should have creative and achievable goals for whichthey must work hard. Awareness of one's goals and understanding the importance of strategic planning should be the top priorities of our business leaders. Mr. Shaban Khalid, President Islamabad Chamber of Commerce and Industry (ICCI) and Chairman Young Entrepreneurs Forum (YEF) of ICCI, emphasized the need of networking.