Special Report

This supplement is printed and distributed This report was produced by the USA TODAY It does not involve the in partnership with One World Media editorial staff of USA TODAY 2019 Special 14th of August, 72 Years of Independence

Lake Saiful Malook Photo by Waseem Abbas.

The Revival of an Economic Giant Political change, regulatory reforms and an anti-corruption agenda will lead Pakistan to economic prosperity.

rime Minister has given Pakistan what «U.S. is a major source of foreign his predecessors couldn’t investment in Pakistan and its afford: hope. Seen as a new largest export market» and incorruptible face in politics, Phe gathered the support of young generations, rupt politicians have been prosecuted and an seasoned entrepreneurs and military leaders alike, Assets Recovery Unit, a whistle-blower law leaving behind the country’s two dynastic political and better tax policies are being implemented. parties, the Sharifs’ Pakistan Muslim League (PML) Likewise, a first-of-his-kind anti-poverty plan and the Bhuttos’ Pakistan Peoples Party (PPP). His “Ehsas” (Empathy) aims helping the poor gain vision of a “Naya (New) Pakistan” entails an am- Pakistani Prime Minister first official meeting with U.S. President Donald Trump is an opportunity to better access to healthcare, education and em- bitious program of reforms aimed at shaking the mend and reinvigorate the two countries’ long-standing and mutually beneficial relationship. ployment. To fund his reforms and bolster the country out of decades of political, economic and economy, Khan is actively seeking foreign in- administrative stagnation. and reinvigorate the two countries’ long-standing a vital part of the agenda, as the U.S. is a major vestors. Saudi Arabia has pledged investment Pakistan occupies a strategic geopolitical po- and mutually beneficial relationship. Trump ex- source of foreign investment in Pakistan and its deals worth $20 billion and they are currently sition linking China, India, Afghanistan and Iran, pects Pakistan to pressure the Taliban to reach a largest export market, furthermore Pakistan is in talks with the United Arab Emirates, Qatar, but it had been relegated to a secondary place peace deal with Afghanistan, ending U.S. involve- going through a $6 billion IMF bailout and is try- Malaysia, Japan and China, its biggest foreign both regionally and globally. Similarly, although it ment in the conflict ahead of the 2020 elections; ing to solve its balance of payments crisis. investor and a major aid donor. There is still a has long been allied to the U.S (and more recently while Imran Khan hopes this cooperation will Domestically, Khan’s government is particu- long way to go for Pakistan to reach its enor- China), its relations with the U.S. deteriorated dra- unlock U.S. financial assistance, as well as keep larly focused on fighting corruption and poverty. mous potential, but for the first time in its re- matically in the last years, strained by the Afghan Pakistan off the Financial Action Task Force’s Through its anti-corruption agency, the National cent history, there is reason to believe they are conflict. Moreover, Donald Trump’s administration blacklist. Trade and investment agreements are Accountability Bureau (NAB), several top cor- on their way to success. adopted a hard line against Pakistan, accusing it of supporting the Taliban and suspending $2 billion The modern state of in security assistance. However, things started to A Strategic Geopolitical Location Pakistan was established turn when Prime Minister Imran Khan took office Pakistan links China, India, Afghanistan and Iran, on 14th of August 1947 by and due to its location has far reaching influence its founder Muhammad in August 2018. Early on, he called for “mutually Ali Jinnah. beneficial” ties with the U.S. and promised to fight in South Asia, the Middle East and Central Asia. terrorism, specially in Iran’s and Afghanistan’s borders. MAIN FACTS in 2018 (Trading Economics) Now, PM Khan’s first official visit to Washing- Capital: Currency: Population: 204,715,362 ton last month is seen as an opportunity to mend (Worldometers July 2019) Inflation:8.89% (Trading Life Expectancy: 66.5 Economics June 2019) years old (WHO 2018) Unemployment: 5.9% Gross Domestic Product: (Trading Economics 2017) Leading $312.57 billion U.S. dollars Area: 881,913 km2 by Example SAYED Nearly 450,000 workers leave Pakistan each year ‘ease of doing business’ in the country, which has Sayed Zulfikar Abbas Bukhari, a young ZULFIKAR for job opportunities abroad mainly to GCC coun- also seen dramatic reduction of regulations and British-Pakistani businessman from ABBAS tries (Gulf Cooperation Council), but over the past taxes and the increase of transparency in order to BUKHARI London, left his successful enterprise 2 years the number has seen a decline by 100,000 facilitate a trustworthy economic environment. SPECIAL to join Prime Minister Imran Khan in an ASSISTANT TO mainly due to ineffective policies, slow growth and Bukhari has recently been appointed as the effort to turn Pakistan’s trajectory around. THE PM ON instability in the Middle East. To address this issue, Chairman of the Pakistani Tourism Development OVERSEAS and considering the potential to grow manpower Corporation, an important position within an admin- PAKISTANIS exports and their direct impact on the economy, istration that is betting heavily in turning Pakistan & HRD ynamic & acknowledged as Bukhari’s office has created think tanks with oth- into a touristic destination and one that was previ- one of Britain’s Most Influ- er countries like Germany and Japan, while he ously being headed by the Prime Minister himself. ential Trailblazers - the young continues to work with other countries like Unit- “The main aim of this government is to successful entrepreneur from don businesses and decided to come here because ed Arab Emirates and Qatar in order to train the promote Pakistan as a destination and show London, Zulfikar Bukhari decided I believe in this government and PM Khan’s vision”, workforce with the right skills needed abroad. that Pakistan is now open for business”, says Dto accept the newly elected Prime Minister Imran explains Bukhari, “Pakistan has not seen a more bal- “We are also addressing the issue of brain Bukhari, “We are reducing visa restraints on 182 Khan’s invitation to become his Special Assistant anced, transparent and well organized administra- drain”, adds Bukhari, “We have created a portal countries, and we are lowering restrictions on on Overseas Pakistanis and Human Resource De- tion, and we are already seeing the benefits of this”. named ‘Naya Pakistan Calling’, on which expats where visitors can and cannot go”. velopment in the autumn of 2018. In just over ten Once awarded as being among the top 100 can share their CVs and get offered jobs at home, As Chairman he has personally been cred- months in this office, Bukhari has already turned most powerful and influential Muslims in Britain, in both, the private and public sector”. The current ited with the return of direct flights by British the ship around & designed policies to bring Pa- Bukhari was assigned a ministry that required ma- government has also made a special provision in Airways, and they are now looking to have kistan back into a globalized world. His focus is jor reforms and had always been a cause close to the cabinet for successful Pakistanis abroad as a Lufthansa and other airlines return to the coun- on opening possibilities for both local workers and the Prime Minister’s heart. His focus today is on means to add valuable international experience as try. Most recently, he also successfully convinced entrepreneurs abroad that help boost Pakistan’s developing and exporting quality human resource, well as an opportunity to lead by example. UK’s Sikh community to invest £500 Million to remittances while enabling a friendly environ- helping Pakistani workers abroad while improving As a close aide and adviser to PM Imran Khan on develop religious . ment for foreign and diaspora investors. the conditions for highly skilled professionals in all areas of diaspora facilitation, Bukhari is also build- “I left all directorship positions in my Lon- order to avoid brain-drain in the country. ing awareness among people to come and invest «I invite the readers of USA Today “Human resource development is our main their money in Pakistan. Recently, the government to keep following Pakistan, to STAFF focus right now, because it can be a great as- introduced a bond with a 6.75% annual return. have faith in the leadership and set”, says Bukhari, “We need to improve the “That is a great yield and you cannot find a to come and visit the country for Pablo Martinez Matosas skills of the workers we send abroad, so that similar bond backed up by the government an- CEO they can be more competitive, earn better pay, ywhere else in the world”, says Bukhari. In fact, tourism as well as for business Stephanie Huertas opportunities» Project, Marketing and Sales Director and increase their remittances in turn”. this came as a part of a wider effort to improve the Gregoire Assellin Economic Researcher Maricruz Rojas Felix Stéphanie Huertas Gregoire Asselin Pablo Martinez Matosas Designer International Project Director. Business journalist. CEO. Matias Godoy The World is my playground; I am a adventurous Ask him about his beat box- Chief Editor we are ONE. Intrepid Traveler, minded person always ing skills, Spanish captain, Giangina Orsini Experiences Collector, Nature on the lookout for a wine connoisseur. Writer & People Lover, a passionate hidden paradise. Agustin Godoy person, soul-thirsty for adven- Lead Analyst Judith Miguélez Díaz Instagram @steph_any tures, cultures and art. Instagram @capturedbygreg [email protected] Online Content Manager Ayesha Alina Special Thanks to: Sayed Zulfikar Abbas Bukhari, Asad Umar, Mian Asad Hayaud Din, Atif Rais Khan, Ayesha Qamar, Saleem Ranjah, Muhamad Abubakr, Mubashar Saha, Rida Copy Editor Fatima, H.E Khayyam Akbar, Fernando Girón Pascual and Ghouse Akbar. ADVERTISING ONE WORLD MEDIA INDEPENDENT SUPPLEMENT 2 SUPPLEMENT Special Report FOR USA TODAY

Pakistan improvement in the World expected GDP growth for FY 19 +11 Bank ease of doing business report 3,3% according to the Central Bank of Commerce & Industry 2019, they are now ranked 136th. Pakistan. Growing Locally, Selling Globally Through business-friendly reforms, Pakistan is boosting its industrial and commercial capacities. Lower taxes, higher exports and ease of doing business are the new priorities.

hen the new adminis- tration came to power in 2018, determined to turn around the ABDUL ISPHANYAR HABIBULLAH KHAN country’s economic RAZAK DAWOOD BHANDAR CHAIRMAN MEGA trajectory, Prime Minister Imran Khan called on ADVISOR TO PM ON CEO MURREE CONGLOMERATE W BREWERY renowned businessman and philanthropist Abdul COMMERCE, TEXTILE, INDUSTRY Razak Dawood to helm the Ministry of Commerce, & PRODUCTION Textile Industries, Production and Investment. “In AND INVESTMENT 2018, we had a trade gap of about $37 billion”, re- calls Dawood, “This has been our primary concern. It has been tough, but we are on the right track”. Their strategy has focused on increasing the export of value-added goods such as engineering, chemi- cal and information technology (IT) products. “Our has enabled Guard Agri to carefully select the pro- «We will continue to renew our pre-engineered buildings”, says Mirza, “Another dependency on textile has to go”, he adds, “We are ducers they buy from, and through their Guard goal is to reduce the quantity of imported raw currently developing a new policy in order to select Rice brand, they have managed to become one of equipment because our future material, which we want to produce locally”. the right export industries for the country”. the top export brands in Pakistan, selling to over depends on modernization, ISL’s expansion plans also include an increase Under Dawood’s guidance, the Ministry is also 45 different countries. While most of their long- research and development» of their Corporate Social Responsibilities initia- implementing reforms to better the position of the grain rice production is sold in African countries ISPHANYAR BHANDAR tives. Focused primarily on health and education, country’s Small and Medium Enterprises (SMEs) to such as Kenya, their Basmati rice can be found in the company has been sponsoring scholarships and compete at a global stage as they represent 90% the Middle East, Europe and the U.S. “We are hold- sumed at a local level, 10% is being exported to vocational training, and is now setting up schools of all enterprises in Pakistan and they employ 80% ing festivals in New York and Chicago to promote different countries, with the U.S. alone represent- with citizen’s foundations. “We are currently in of the non-agricultural workforce and contribute our Basmati in America”, explains Malik. ing close to 50% of their exports. “Our domestic the process of establishing our second school”, around 40% of GDP. “We are coming up with a Throughout their years in business, they have demand is so high that the surplus for export is says Mirza, “We also have initiatives to work with scheme to improve their access to capital and tech- been strong promoters of private research and de- still small”, explains Mirza, “Recent tariffs im- healthcare institutions around the country”. nology”, explains Dawood, “We are looking to pro- velopment, and their efforts have not been in vain. posed on Chinese steel have opened the U.S. mar- With a clear target and a vision of how to vide real loans backed by the State Bank, and we “We are very close to developing a Basmati hybrid ket for us, so we will look at expanding our export achieve it, ISL will continue to evolve, proving want them to keep up in terms of that will change the life of Pun- production”. The company aims to increase their once again that Pakistan is a true land of oppor- technology, which is crucial”. jabi farmers for good”, explains presence in new countries and export as much as tunity. “Our population is rising and our Govern- This strategy is being comple- Malik, “We have also partnered 50% of their production in the coming years. ment is focusing on manufacturing. This recipe mented by the administration’s with the Beijing Academy of Ag- In their efforts to continue on a trajectory of ensures that growth in this sector will be inevi- efforts to change Pakistan’s image ricultural Sciences to develop hy- growth, the company has begun to implement table”, adds Mirza with a smile. abroad and further attract foreign brid wheat”. With these and other expansion plans and study diversification -op investment. “We are addressing projects under way, Guard Agri is portunities. In addition to their cold-rolled and «With a rising population and a the challenges that were slowing showing what local companies are galvanized steel production, they manufacture Government focused on local down foreign direct investment”, able to contribute to the future, color-coated steel products and want to establish manufacturing, growth in this says Dawood, “We have CPEC and confirming how much poten- service centers across the country where consum- (the China-Pakistan Economic tial lies in Pakistan. ers can shape and size the product as they desire. sector will be inevitable» Corridor), Japan and Malaysia Founded in 1860, Murree “We are also evaluating other businesses, like YOUSUF MIRZA are already here, and Turkey is Brewery was one of the first also willing to come. Foreign in- modern beer breweries to be es- vestment will come from all over tablished in Asia. Between 2012 the world in the coming years”. and 2016 they managed to grow Current tensions between the their profits by 100%, reaching U.S. and China in terms of trade $19.6 million in 2017. “Almost have opened a window of oppor- 70% of our population of 220 tunity for countries like Pakistan, million is under the age of 30”, India and Vietnam. “The overall explains Isphanyar Bhandara, landscape is improving as com- CEO of the company, “These COMPANY PAKISTAN modity prices are falling throughout the world”, youngsters are people who like their soft drinks and explains Dawood, “The Walmarts of the world are water”. In recent years, the company has expanded shifting their interests to other countries and hope- their portfolio by producing juices, drinking water BREW WITH fully we can benefit from this”. and other food products, as well as increasing their As a veteran entrepreneur who was best known production capacity for alcoholic beverages. “We as the founder of multinational company Descon are constantly improving our technology by buying THE BEST Engineering and the Lahore University of Man- machines from all over the world”. FRANCHISE OPPORTUNITIES agement Sciences, Dawood is uniquely quali- Having recently inaugurated a state-of-the-art fied to face the challenges that lay ahead. “I’m beverage plant, Murree Brewery plans to contin- 76 years old, and I have spent 51 years in my ue growing their local market share. Even though AVAILABLE! personal business”, he says proudly, “It’s time to they are not allowed to export alcoholic beverages give back and improve the business landscape by law, their juices are already being sold in Af- Details of Collaboration/Franchise opportunities of my country”. ghanistan and some African countries. “Our goal is Franchise to brew Murree Beer in USA and also subsequent to increase profitability for shareholders and work- distribution in the whole territory of USA. «Our dependency on textile has ers”, explains Bhandara, “We will continue to re- to go. We are developing policies new our equipment because our future depends on Offer franchise to Murree Brewery Company for brewing their to identify the right export modernization, research and development”. recognized/leading brand in Pakistan and its subsequent distribution. industries for the country» Confident of its growth projections in the re- gion, Murree Brewery is constantly increasing its ABDUL RAZAK DAWOOD Importing of Murree Brewery’s Non- Alcoholic beer brand, fruit investments. They import close to $2 million of juice etc into USA and subsequent distribution. raw material. “Asia is a young and dynamic con- tinent”, Bhandara adds, “Consumption power is great, so the future growth of the beverage indus- try, including beers and wines, will be in Asia”. With over 100 years of experience, Murree Brewery have had to face their fair share of chal- SHAHZAD ALI MALIK lenges, which today include illegal beverage pro- CEO GUARD RICE duction, contraband and changing government policies, but they have managed to outmaneu- ver them. “Our reputation is pristine. We don’t cheat taxes, we have no debt or liability”, says Bhandara proudly. Murree Brewery has also shown a true commit- ment to helping local communities, with various social programs ranging from funding a school for As the first private sector company to establish special needs children, to equipment for hospitals. their own rice research and development facility, “Our yearly budget for such activities is $100.000”, Guard Agri has proven to be much more than just a adds Bhandara, “We believe in investing in people rice company. Founded in 1989, it has been in con- and helping those in need”. stant evolution and is now venturing in the world Having commenced production less than 10 of seed production and development. “We have years ago, International Steels Limited (ISL) is al- a unique supply chain”, says Shahzad Ali Malik, ready Pakistan’s largest manufacturer of flat steel. CEO of Guard Agri, “We produce the seeds but not With more than 70% of the local market share, the rice. We buy from local farmers and distribute and investments that surpass $250 million, ISL is around the world”. confident they will soon be able to fulfill all of the The rice industry in Pakistan has seen enor- country’s steel demands. “We started off with a PLEASE CONTACT US mous growth in recent years, with total produc- capacity of 250.000 tons per annum”, says CEO [email protected] | [email protected] | [email protected] tion reaching 7.4 million tons per year, a mark that Yousuf Mirza, “Today we have hit one million made the country one of the top 10 largest rice tons of both cold-rolled and galvanized steel”. murreebrewerycompany www.murreebrewery.com producers of the world. This surge in production Although most of their production is con- ONE WORLD MEDIA INDEPENDENT SUPPLEMENT ADVERTISING FOR USA TODAY Special Report SUPPLEMENT 3

WHY PAKISTAN? 2nd 3rd 4th 5th Commerce & Industry ONE OF THE TOP TEN IN KEY NATURAL RESOURCES Salt Copper Cotton Gold (invest.gov.pk) Reserves Reserves Production Reserves

We believe in a clear concise results-oriented ap- A Titan Leading the Way in proach. Primarily our focus is on value creation and growth with a hope that our companies’ re- sults always speak for themselves”. Diversifying the Country’s Economy In addition to their proven business acumen and merit-oriented style, Mega Conglomerate With holdings in Energy, Dairy, Construction and other sectors, Mega has been widely known for its commitment to social and environmental welfare, having been Conglomerate has been shaping the business landscape for over three decades. patrons of organizations and various healthcare and education institutions. “All our companies have allocated budgets for CSR with some hav- projects alone. “The ects for 2019 will be the development of their 2 ing a committed bottom line percentage going current cost of elec- million square-foot mixed-use district in the cen- toward CSR projects. We make schools, hospitals, tricity in Pakistan is ter of Karachi on arguably the most prime and try to improve the work environment at our offic- very high, close to recognizable site in Pakistan. The project features es and plants, but most importantly we provide thirteen cents per residential , grade “A” office space and sustainable jobs”, explains Khan, “We are always Kilowatt-Hour; we the first six star hotel in the country, all linked by happy to contribute where we feel donations can need it to come commercial areas and serviced by its own state of make a difference, but the main difference we as- down significantly to the art utility center. “We expect to break ground pire to make so- be competitive global- end of this year”, says Khan, “As of today we have cially is through Qasim International ly”, explains Khan, “Our finalized the global award-winning architect for Container Terminal, job creation en- long term vision for the project and have begun the design phase Pakistan’s largest abling our people our power business is with financial modeling and planning complet- container terminal to have concrete One of Hub Power Companies thermal power plants providing 1200 MW to produce 10,000 ed. Total timeline for the project is 5 years as it is servicing a long term employ- of reliable power to the national grid of Pakistan. megawatts by 2025 dependent on several different elements. We are throughput of 1,5 ment to contribute million teus per through cost effective trying to build a city within the city, and we have to their and fami- annum. ega Conglomerate Pri- production and fuel sources directly enabling lo- been working very hard to achieve the highest lies development”. vate Limited (MCPL) was cal businesses to bring down their costs. We are quality standard possible”. Through their founded in the early 80’s half way there”. Through their majority share- Focusing on quality of products and services, various holdings, by Habibullah Khan, who holding in the Hub Power Compa- and noting human resources as Mega Conglom- has since led the compa- ny, MCPL has expanded their power one of their greatest assets, Mega erate is poised to Mny to become one of the largest holding investment toward a diverse energy Conglomerate has managed to continue leading companies in Pakistan. Today, MCPL is a mix, including thermal plants, re- «I believe that pursue expansion and the way for business major player in the power, cement, shipping newable solutions and are looking Pakistan is on the diversification even in Pakistan, where and logistics, aviation, foods, communications, at gas power plants to purchase trajectory to be during challeng- Khan says: “Oppor- terminals and real estate sectors in the country. both, locally in Pakistan and off- a very attractive ing times. This tunities are immea- With investments all over the world, they have shore. Simultaneously, the group is one of the surable. With a pop- managed not only to achieve sustainable growth is expanding their cement busi- global investment reasons why ulation of over 200 throughout the years, but have also shown great ness by setting up a new 9000 ton market with renowned com- million, the type of commitment to the development of Pakistan. “It per day cement plant in the heart fantastic returns» panies such as DP World resources (both hu- is imperative for us to look at long term sustain- of the province of Punjab where HABIBULLAH KHAN and General Electric man and natural) ability when it comes to our projects”, explains cement consumption is high due have been among the that we have, I be- Khan, Founder and Chairman of the group, “It to consistent infrastructure development work many to partner with MCPL over lieve that Pakistan is not only benefits the company, but it benefits us linked to CPEC (the China-Pakistan Economic the years. “Our vast international on the trajectory to as a country”. Corridor).“The new plant will generate around experience has taught us a lot”, says be a very attractive Mega Conglomerate is one of the largest holding 5000 new jobs during its engineering, procure- Khan, “We understand the value of global investment groups in terms of investment in Pakistan, hav- ment and construction period” adds Khan. providing quality in our endeavors, market with fantas- ing invested over $4 billion in their new power One of Mega Conglomerate’s most exciting proj- and placing integrity above all else. tic returns”.

BOARD OF INVESTMENT A One-Stop-Shop for Investors

Following Prime Minister Khan’s vision of economic development through business- friendly reforms, the Board of Investment (BOI) has taken a leading role in shaping Pakistan’s investments policy.

ince the PTI Government took of- especially drawn to Pakistan’s youth and highly fice last year and following Prime skilled population, which is a clear advantage in S Minister Imran Khan’s emphasis on terms of sustainable growth. economic development through ease of In recent years, Pakistan has seen a rise in for- doing business reforms and international eign direct investment (FDI), with a 50% increase collaboration, the Board of Investment (BOI) in manufacturing sectors. With the industrial coop- has taken a lead role in shaping Pakistan’s invest- eration under CPEC, this trend is likely to continue ment policy. The Board assists companies planning improving, although the BOI recognizes the need to invest in the country, promotes investment op- to attract other investments as well. “There are a portunities and is an integral part of the Industrial number of mega projects in the pipeline with dif- Cooperation under the China-Pakistan Economic ferent countries, including Saudi Arabia, Qatar, the Corridor (CPEC). “Our Government is focusing on UAE and others”, says Gilani, “This year, we hope to six priority sectors, which have the boost investors confidence in order most potential for businessmen”, to bring more FDI into Pakistan”. says Zubair Gilani, Chairman of the Having been the largest investor BOI, “These are: automobiles, food «We, at the Board in Pakistan before CPEC, the U.S. processing, value-added textiles, of Investment will play an important part of this information technology, logistics are here to strategy. Following the already es- and tourism”. facilitate foreign tablished presence of large multi-na- After CPEC was established tional companies such as Procter & in 2015, many investors were left investment and Gamble, IBM, General Electric, 3M, wondering if the new incentives want to ensure ExxonMobil, Cargill and Coca-Cola, and regulations would apply to investors reap the Board is now looking for new everyone else, a challenge that the the benefit of arrivals. “We are particularly inter- new government has been able to investing in our ested in FDI from the U.S. in the overcome. “We created a level play- country» Information Technology sector due ing-field. The CPEC projects are to the presence of world-renowned ZUBAIR GILANI open for everyone, and the incen- tech companies in the Silicon Val- tives structure is the same for everyone”, explains ley”, says Gilani, “Pakistan produces almost half a Gilani, “We want investors to bring in managerial million graduates in this sector every year and a expertise and new technologies to Pakistan”. number of such companies have shown interest. Aware of the tough competition Pakistan fac- This is definitely a sector which can produce win- es against India, Bangladesh and other South East win results for both sides.”

Asia countries, the BOI is relying on their compet- With a wide set of policies that have improved AWARDED 1st PRIZE itive advantages to gain ground. “Our government the ease of doing business, Pakistan will surely fol- recently announced that we have overcome our low a path of sustainable growth. “Pakistan is open AT 6th EMPLOYER OF THE YEAR AWARDS ORGANIZED energy deficit issues, which will radically change for business”, says Gilani, “We, at the Board of In- BY EFP PAKISTAN FY-2017 our industry”, explains Gilani, “We are constant- vestment are here to facilitate foreign investment ly improving and adopting very competitive poli- and want to ensure investors reap the benefit of cies”. Investors from around the world have been investing in our country”.

CONTACT US [email protected] +92-51-922 4101 / +92-51-921 5554 Ataturk Avenue, G-5/1, Islamabad 44000, Pakistan. ADVERTISING ONE WORLD MEDIA INDEPENDENT SUPPLEMENT 4 SUPPLEMENT Special Report FOR USA TODAY

$64 Billion, the amount being invested in the Maritime Affairs & Logistics $ China-Pakistan Economic Corridor (CPEC).

Ports & Ships of the 1.200km, The Makran coast of Pakistan. 16-meter Ministry of Maritime the length of the NASA Earth Observatory image deep cargo ship can Affairs, Government Pakistani coastline. by Joshua Stevens. Using Landsat be handled at Gwadar Port. of Pakistan. data from the U.S. Geological Survey and SRT. Ambitious Plans and Great Prospects for the Maritime Industry The special focus placed by the government shows it wants to transform challenges into opportunities.

ALI HAIDER ZAIDI AHSAN MALIK MINISTER FOR DIRECTOR MARITIME AFFAIRS WATERLINK GROUP OF COMPANIES

o government before us un- “the biggest problem with the logistics industry derstood the importance of is that it is completely undocumented”, the im- this ministry”, says the Minis- Gwadar Port, Balochistan: The new gateway to China. plementation of international health and safety ter of Maritime Affairs, Ali Zaidi, standards is imperative. “These standards have explaining that about 95% of population and area, is related to its ill plan- include building the port’s main artery, the East- increased the freight cost but they will make NPakistan’s trade goes through three ports, Ka- ning as there is no sewage treatment plant and bay Expressway, a new international airport, the logistics more efficient in terms of time, rachi Port Trust, Port Qasim and Gwadar Port. an average of 550 million gallons of untreated a Free Zone and water treatment, supply and documentation, tracking and security”, Malik Since reducing the trade balance deficit is one water end up being disposed into the ocean by distribution facilities, among others. Once admits, also highlighting the need to increase of the government’s top priorities, major devel- factory owners. As Zaidi explains, in order to completed, this port will increase Pakistan’s and improve ports, “we need more terminals, opment projects have started being implement- fix this problem they are installing three water strategic geographical importance, as it will each dedicated to specific products such as ed. As Zaidi explains, Karachi’s main challenge treatment plants that will convert sewage water connect China to the rest of South Asia, the coal, LNG ( Liquid Natural Gas), oil or seeds so is its accessibility. Due to a population increase, into gray water, and this will then be sold to the Middle East and Africa. the process becomes more efficient”. the port is now stuck in the middle of the city, industry “so they stop using clean and usable In order to accomplish all these goals, Paki- As for the company’s goals, Malik says they and as a result it is under-utilized, “Karachi Port water, which means more water stan’s Ministry of Maritime Affairs will continue strengthening their ethos, “we Trust has the capacity to handle 150 million for the citizens of Karachi”. An- is aware of the crucial importance have always wanted to become a one stop shop tons a year in trade but we are only handling other project is the recovery of of digitalization in a moment when for the country’s shipping, logistics and supply 50 million”, says Zaidi. Therefore, they plan to some of the marshlands and en- «I want to build a global logistics patterns are being chain necessities”. Today, they have managed build the “Pink Line”, a new railway line from croached areas near the port to freight corridor on transformed by it. “One of the key Port Qasim to Karachi Port where they will set build housing projects for the lo- the ocean just like factors from a ministerial point «In order to lower our trade a specific freight rate to provide a cheap way to cal inhabitants and to develop an of view is to digitalize my ports deficit, we need to be more transport goods. Linked to this, the government industrial zone. the Hong Kong and and make them as automated as plans to build a freight corridor that will connect Big plans are also projected for Macau Bridges» possible”, says Minister Zaidi, rec- efficient in our imports and these two ports to the railway line. “I want to the deep-sea port city of Gwadar ALI HAIDER ZAIDI ognizing that this is particularly manufacturing» build a freight corridor on the ocean just like the due to its enormous potential. Lo- important in the fight against cor- AHSAN MALIK Hong Kong and Macau Bridges”, says Zaidi. This cated on the Arabian Sea just outside the Strait ruption: “if you want to address corruption you corridor will have oil and gas pipelines so freight of Hormuz, 80% of the world’s oil goes through have to go digital because machines don’t lie”. to do this and more. “We can take your car- management can be done and trade capacity there and it is now part of the mega infrastruc- These ministerial efforts are being taken even a go from the port and within our own supply will be improved. tural initiative “China-Pakistan Economic Corri- step further by Minister Zaidi, who is setting up a chain we can deliver it to your doorstep and The Ministry’s second challenge in Kara- dor” (CPEC). This program envisions a network personally monitored mobile phone number and vice versa. This is the competitive edge we have chi, the world’s second largest city in terms of of road and communication infrastructures email address where people can report any in- built within 20 years and we are continuing to spanning over 3000 km, from the city of Kash- consistencies, “It is not just corruption, they can do so”, Mr Malik states. Nowadays, they have «The world has started looking gar in China to Pakistan’s southwestern-most tip report anything to me about my ministry, wheth- long-term contracts with shipping firms such as at Pakistan not as a security of Gwadar, with estimated costs of $46 to $62 er someone is asking them for money or if they APL, Damco and DHL and would like to take billion, around 17% of the country’s total GDP. are stuck somewhere. I have a team of people their trucking fleet model to Dubai and poten- zone but as an economic zone» 12 of the 60 projects included in this program managing this data. All the important calls and tially to the UK. They have also diversified their ALI HAIDER ZAIDI are dedicated to Gwadar exclusively and they messages are sent to me every night”, Minister services into dredging, mining, LNG and renew- Zaidi assures. able energy, and they are currently looking for Despite the admirable odds of the task in his partners in the US soybean seeds market. hands, Ali Zaidi feels confident about the future. Waterlink Group of Companies is also re- “The way we are progressing right now, the world nowned for its CSR activities. “When it comes has started looking at Pakistan not as a security to CSR, we do not just corner ourselves to one zone but as an economic zone”, states Zaidi, in- sector”, says Malik, explaining how they use viting foreign investors to consider his country’s eco-friendly trucks, are pioneers in environ- potential: “I always bet on the underdogs, they mental handling in the coal industry and intend fight harder because they have nothing to lose. to go paperless by 2025. They also try to im- Pakistan has never been short of resources but it prove their male/female ratio initially to 70/30 has always been short of management. Now that and continue to invest on schools and free the management has been put in place, investors clinics. As their own corporate and outreach should not miss out on Pakistan!” activities demonstrate, there are vast opportu- Waterlink Group of Companies’ Director nities ahead and Malik has enough reasons to Ahsan Malik believes the freight forwarding in- be hopeful, “There will be double digit growth dustry is “the backbone of our economy, a very in the coming years as growth saturates in the exciting space to be in Pakistan”. Moreover, the developed world. I would welcome everyone to country’s current trade deficit makes it even come, look at our country, our markets and in- more relevant: “The infrastructure of shipping vest in them. They will not be disappointed”. and logistics becomes very important for a coun- try that is in our position. In order to lower our trade deficit, we need to be more efficient in our imports and manufacturing”, assures Malik. Therefore, he welcomes the government’s mea- sures to improve the sector’s efficiency. Since www.waterlinkpak.com

Karachi Port Trust, South Asia Pakistan Terminal. PONER SOLO UNO

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Prime Minister Imran Khan has launched The PTI government has taken the his dream project; the Naya Pakistan initiative to let Pakistan expand 5 million low-cost Housing Scheme. vertically instead of horizontally.

The Eighteenth District TAREK HAMDY CEO ELITE ESTATES South West of Islamabad PRIVATE LIMITED A luxury destination only 10 minutes away from the new Islamabad International Airport.

likes of Callison RTKL and WATG ment plan spreads over a period of four years. for the master planning and One of the many advantages of Eighteen is that, « To offer not only the best architectural design, and IDG for since the shareholders own the land, the sale of a quality housing, but also a new the golf course design. The result was a concept, unit comes with a transfer of title deed, a propo- level of destination living» which was all set to redefine and set new stan- sition that builds heavily with the credibility and ighteen, a modern, lux- dards for Real Estate in Pakistan. “Appetites are promise of the project. “Buyers will own the land”, track record are beginning to turn perceptions. urious residential proj- turning towards proper international standards”, explains Hamdy, “This means they can sell it, refi- We have been overwhelmed by the response we ect, is introducing a new says Hamdy, “Our proposal is being very well re- nance it, or even inherit it without any problems, our have seen in roadshows in places like Houston way of living in Pakistan. ceived. We wanted to offer something attractive ownership title is unique”. Over 250 units from the and Dallas”. Confident of the response- re Located on the Kashmir High- for the people of Pakistan, living locally and over- first phase have already been sold which represents ceived by the overseas pakistanis, Eighteen has way, 15 minutes seas and for those who enjoy the around Rs 20 billion in sales. already set up offices in London from downtown Islamabad and 10 better things in life”. Off the back of a very success- and Dubai, and are reaching out EMinutes from the new Islamabad Eighteen’s, 2.7 million square ful end of 2018, the company is to the pakistani population based International Airport. Eighteen sits yard, development is themed looking to reach their goals for the «Our approach in the U.S. and Canada. at the focal point for the twin cit- «We will have around an 18 hole championship present year, and is already eyeing In parallel to their develop- ies. With an extensive footprint, the 1068 luxury villas, golf course, which will provide new possible projects. In 2019 they to this project ment efforts, which are already mix-residential complex spans over in five different ample green spaces and panoram- will finish their phase I. Their plan meets the providing job opportunities for a total of 600 acres. Registered un- sizes and 960 ic views to Eighteen Residents; includes starting their commercial standards of any around 20,000 local workers, der the legal entity of Elite Estates chic apartments, “We will have 1068 luxury villas, offer as well, it has already called international luxury Eighteen has also been very ac- Private Limited, Eighteen is being creating a new in five different sizes and 960 chic the attention of several companies development, for tive in creating a corporate social built by an effort which combines apartments, creating a new des- and renowned operators who have both, overseas and responsibility agenda. Today, they the prestige and experience from destination tination and integrated commu- started showing interest in the ho- sponsor students who play for parent companies Ora Developers, and integrated nity”. Eighteen embeds perfectly tel, the clinics and the mall. “Our local Pakistanis» Eighteen’s futsal team, they are Saif Group and Kohistan Builders & community» with the overall environment of shareholders have approved the plan offered summer internships and Developers. “Our shareholders have the region, with a masterplan en- to look for new locations once our construction is will be offered jobs at Eighteen once their ed- owned this land for over a decade” says Tarek visioning a built up area of only 16% of the land. further advanced”, warns Hamdy, “This will prob- ucation is complete. “We hope to take this fur- Hamdy, CEO of Elite Estates Private Limited, “In an attempt to provide a one stop solution for ably be in Karachi and Lahore, we are fully com- ther”, says Hamdy, “We want to create champi- “With December 2017, marking our official proj- Eighteen residents, we have also designated a mitted to reinvesting our profits here in Pakistan”. onships across the country”. ect launch, we now stand at a point where a con- commercial buffer, with over two million square Eighteen’s model of creating a new destina- With great experience at the helm, and a siderable inventory from the Phase I is sold and feet of office space along the Kashmir Highway”, tion for a modern Pakistan has certainly been a modern and luxurious masterplan, Eighteen we have accordingly initiated the construction of adds Hamdy proudly. Fitting perfectly into the brave endeavour, having started at a time where will surely become the most coveted destination the villas and the heights. definition of a Lifestyle Destination, Eighteen of- most foreign investors were skeptical about the of the twin cities, in Pakistan “Trust us and trust Following its mission to offer not only the best fers its residents clinics, a hospital, a school, an market. In fact, the project has seen equal inter- the process”, says Hamdy, “Our approach to this quality housing, but also a new level of destina- entertainment square, a five-star hotel, support- est from both, local and overseas based inves- project meets the standards of any international tion living, Eighteen underwent extensive archi- ed by state of the art infrastructure and utilities. tors, making the international and local markets luxury development, for both overseas and lo- tectural design and master planning, with the 2018 marked the start of construction on the equally important for Eighteen. cal Pakistanis. We offer you to own hassle free, help of several internationally renowned archi- site, and according to Hamdy the first will When commenting on macro factors, Ham- fully finished, managed properties in a world tecture and design studios. These included the be available in three years’ time, while the pay- dy said: “The new government and our proven class development. 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During CY18, the financial sector has witnessed asset growth of 7.4% to reach Rs 26.6 trillion. (Advisor to Banking & Finance $ the PM on Finance, Revenue and Economic Affairs, Abdul Hafeez Sheikh).

$6 billion: Less than 1% the size of the IMF of the Pakistani population bailout program. pays income tax.

Financial Sector’s Transformation Starts to Yield Results

ilustration by @katemangostar With banking penetration increasing, the future looks bright for major banks.

akistan’s financial sector has put in place a wide range of initiatives to and agreements like the Multilateral Convention is growing and transform- widen the tax base that have started giving re- and the Multilateral Competent Authority Agree- ing in line with recently sults: “300.000 new taxpayers have filed income ment that will “Facilitate international coopera- ABDUL HAFEEZ agreed International Mon- tax return for tax year 2018 and 150,000 returns tion for better operation of domestic tax laws”. SHEIKH ADVISOR etary Fund (IMF) polices to have been enforced”, says Sheikh. Among these Furthermore, they are aware of the increas- TO PM ON FINANCE, curb external and fiscal deficit by reducing the measures, the FBR is mapping big businesses ing importance of using technology to advance REVENUE AND P ECONOMIC country’s expenditure and enhancing its reve- and services, primarily in the health, food, ed- their efforts, particularly through the develop- AFFAIRS nues. Despite initial governmental resistance ucation and entertainment business, as well as ment of mobile apps, which are being exten- due to expected unpopular measures like cuts in focusing on the real state sector, as most of its sively used even by those who are computer subsidies and currency depreciation, Dr. Abdul transactions are “falling outside formal tax re- illiterate. This will “Persuade people to file their Hafeez Sheikh, Adviser to the Prime Minister on gime”. Major efforts are also being placed in return of income easily and with zero cost”, Finance, Revenue and Economic Affairs believes broadening the sales tax, because “While recent assures Sheikh. They will also promote great- the benefits of an IMF program are clear: fiscal tax reforms have impacted income tax base and er data sharing by integrating different public costs of the government’s reform agenda are collection in a big way, by and large sales tax re- sector databases such as NADRA (the National «A mobile application would be covered by IMF funding, a crucial assistance in gime remains intact”, affirms Sheikh. Addition- Database & Registration Authority), Provincial developed to persuade people to the early phases of reforms; other development ally, they have signed several tax conventions Revenue Authorities, Excise & Taxation De- file their return of income easily partners support reforms not particularly identi- partments, Utility Companies and Land Regis- and with zero cost» fied under this program and it gives confidence «300.000 new taxpayers have tering Authorities. “This will be done in a way ABDUL HAFEEZ SHEIKH to the market sentiments, helping mobilize re- that a 360 degree view of the economic profile sources domestically and internationally. filed income tax return for tax of a taxpayer/non-taxpayer is developed”, says do not rely on the news and the numbers. It is a Since the bailout package intends to reach year 2018 and 150,000 returns Sheikh, whose extensive experience in the IMF much safer place now and it can only be under- its goals through tax policy and administrative have been enforced» and the World Bank leads him to recognize both stood by visiting and talking to the local people”. reforms, the (FBR) ABDUL HAFEEZ SHEIKH the opportunities and challenges of these chang- Microfinance was introduced in Pakistan to ing times. fight the country’s low financial access andit “The banking sector in Pakistan is strong and has seen an impressive growth with over 6 mil- well regulated”, says Sima Kamil, President and lion people now using its services. “We are the CEO of United Bank Limited, one of the largest pioneers; we were the first bank in Pakistan to commercial banks in the country, with over 1,400 start micro-financing back in 2000”, says Ghalib branches across Pakistan, 15 overseas, a custom- Nishtar, President and CEO at Khushhali Microf- er base of over 5 million and an asset base of inance Bank, the leader in the country with 25% more than $15 billion. of market share and over two million clients. To- However, she recognizes that “The biggest day there are other 11 banks that have also man- challenge facing the banking sector is financial aged to entice foreign direct investment, showing inclusion”, with only 30 million account holders confidence in Pakistan and in the sector, “And it in a population of more than 200 million, 150 of keeps on growing. It is a highly innovative sector them adults. The main questions people ask are: with plenty of new services and products being “Why should I have a bank account? What is in it launched, such as digital banking”, Nishtar adds. for me?. What we need to do, and In line with governmental objec- we are working on that, is to show tives of supporting Micro Small Medi- them value in a bank account”, um Enterprises and integrating them Kamila says, explaining that they into the mainstream economy, KMLB were the first bank in Pakistan that «We are the is focused on investing in productive introduced branchless banking pioneers; we were sectors, mainly agriculture. “I believe with their Omni Shops, where peo- the first bank in there is a lot of promise within this ple can transfer money, pay bills Pakistan to start sector, because Pakistan has a huge and buy railway tickets. micro-financing population which means food secu- They have also started work- rity is a priority, and because all of ing with digital platforms on mo- back in 2000» our neighbors, Iran, India, China, Af- bile phones “To bring in costumers GHALIB NISHTAR ghanistan are food deficit countries, and offer them a more convenient which is a huge opportunity for Pa- service”. So in 2019, she assures, “Our main ob- kistan” - assures Nishtar, adding that they are in- jective is financial inclusion through digital inno- terested in alternative energies and low-income vation, it is our forte and we are ahead of the housing as well. competition in that area”, adding that they start- Another main goal is to contribute to women ed a digital design lab to create the customer’s empowerment. Currently 35% of their clients are journey based on their needs and will soon allow women but they would like it to be 50%. “The to open accounts and get a loan without having biggest challenge is to reach out to these wom- to go to the physical branch. en”, Nishtar admits, so they set a mobile women Being the first woman to lead a major Paki- a workforce that can easily reach remote places stani bank, Kamil is used to challenges. She in- across Pakistan and help them understand and vites women aspiring to enter this sector to re- adopt their services. They also started investing alize “That you do not have to become a man to in their technological infrastructure, particularly be successful. Speak up for artificial intelligence and data analytics “In order yourself, be strong and to be able to give a quick and easy response to you will find the oppor- our clients”, as well as in digital services so they tunity to get ahead. Be can “Have access to markets, pricing, weath- proud of being a wom- er and cropping patterns at their place of work an”. She also invites pos- through mobile devices”, says Nishtar. sible U.S. investors “To As for potential partners, they are looking for spend some time in this socially responsible investors who bring invest- country and under- ments as well as good practices and values. stand its poten- “Consumer protection and looking after their tial: come here interest is what we focus on most”. That said, and see the Nishtar believes “Micro-finance has all the country for reasons to flourish and U.S. investors should yourself, come and invest in Pakistan”.

«Our main objective is financial SIMA KAMIL CEO UNITED inclusion through digital BANK LIMITED innovation, it is our forte» SIMA KAMIL ONE WORLD MEDIA INDEPENDENT SUPPLEMENT ADVERTISING FOR USA TODAY Special Report SUPPLEMENT 7

Banking & Finance

SECURITIES AND EXCHANGE have been linked to Badla, a financing system used by India and Pakistan, which provided mar- A Banking Sector COMMISSION OF PAKISTAN gin financing to the client base, but was misused so often, it would collapse every two or three Looking Ahead A New Financial years. “We have put ring fences to protect con- sumers, and we already brought cash derivative By reading and adapting to the political, Market for futures to the market”, explains Sabzwari, “ Now social and historical changes shaping we want to do derivatives, single stock futures the country, Askari Bank has managed and index futures so that the people eventual- to lead the way into a new Pakistan. Naya Pakistan ly forget about Badla”. The SECP has also been developing new tools in FinTech and have inte- Now focused on changing the relationship grated the Federal Board of Revenue, as well as ounded in 1991, Askari Bank has Following the 2018 elections, many companies between the local financial market and Financial Sector’s the Punjab and Sindh Boards of Revenue to their been reshaping the world of bank- and investors have been seeing Pakistan in a new the customer base, the SECP has taken plateform. “I realize what we need are friendli- F ing in Pakistan for over three de- light. “There are very high expectations with re- great steps toward establishing a more er relations with the customer base, as well as cades. Originally a commercial bank, it has since gards to the new administration”, says Sattar, “And Transformation Starts stable and profitable market. with stakeholders”. expanded to a full service entity, with a wide range we have already seen structural changes put in Since 2014, foreign direct investment has been of products in corporate, commercial and retail place that make us very optimistic toward the fu- ince its establishment in 1999, the on an upward trend in the country, having surpassed banking. With headquarters in Islamabad, they ture”. This confidence has led the bank to continue Securities and Exchange Commission the USD $3 billion benchmark in 2018. “When for- operate over 500 branches, 94 of which are ded- its search for expansion opportunities in 2019 and to Yield Results S of Pakistan has been tasked with the eign investors come to Pakistan to either set up a icated to Sharia compliant banking, also known as the following years. “One market we felt was being regulation of the corporate sector and capi- business or joint ventures, we are there to facilitate Islamic branches. “Our customer service is what overlooked was housing finance”, adds Sattar, “We tal market, as well as the oversight and regulation them, as long as we can”, says Sabzwari. The SECP sets us apart”, says Abid Sattar, President and CEO want to design mortgage products that can cater of insurance companies, non-banking financial com- has recently improved its processes; lowering wait- of Askari Bank, “Here, customers can enjoy the to all income brackets”. In fact, they have already panies and all other actors of the financial market. ing time for permissions, structuring codes of cor- same variety of products in both the conventional reached an agreement with the Pakistan Mortgage “Many believe our only mandate is to porate governance and regulations window, and the Islamic window.” Refinance Company (PMRC), which manage the for the Pakistan Stock Exchange. They Their customer driven strategies will improve the bank’s position to (PSX)”, explains Farrukh Sabzwari, have also opened talks with several in- have led them to be a resilient and offer finance on long-term mortgage current Chairman of the SECP, “But «I have yet to stitutions, like the American Business nimble bank, which has endured «Our goal is to products. “We are also looking to im- our main goal is to increase the cli- bring a single Council and the Overseas Investors many threats over the years. Having be known as the prove our standing with remittances, ent base, and make sure people see foreign investor Chamber of Commerce and Industry. received awards for their online bank- best customer by finding new partners abroad and the benefits of investing in the stock to Pakistan With deep and innovative reforms, ing efforts since the early 2000s, the service bank in offering better online transactions”, exchange, which also means ensur- the SECP is preparing the market for move from paper and branch based Sattar comments. ing regulations are efficient”. who have been its biggest expansion yet. “Naya Paki- banking to the mobile and digital era the region» In addition to their various ef- ABID SATTAR Sabzwari has brought a new focus dissatisfied» stan is being built right here and now”, remains one of their top priorities. forts to expand and improve the to the Commission since his appoint- says Sabzwari confidently, “If you “Pakistan has a very large population, and most of banking experience for their clients, Askari Bank ment in late 2018, tackling not only the regulato- really want to be part of it, this is the right time to it is under 30”, explains Sattar, “We must adapt to has also been highly recognized by their social ry problems, but helping the SECP become better be looking at Pakistan. I have yet to bring a single meet the needs of the new generation, who wants endeavors. “Our parent company is the Fauji known. “We are dealing with two main challenges”, foreign investor to easy access and rapid solutions”. Internet banking Foundation, which has always been committed says the Chairman, “One is a problem of literacy, and Pakistan who has has become a fertile ground for Pakistan, with to the welfare of retired army officers”, explains the other a problem of trust”. Although the PSX has been dissatisfied.” different telecommunications and e-commerce Sattar, “Being involved is in our DNA”. The bank been growing rapidly in recent years, the total num- companies showing strong interest. “Our main ad- participates actively in education, healthcare and ber of investors is still low, with about 250,000 clients vantage is our client base”, adds Sattar, “They give relief work; environmental causes, cultural agen- FARRUKH spread over roughly 250 brokers. For this reason, the value to our brand, and this allows us a unique das and sporting events. SABZWARI SECP has put forward different policies aimed at in- CHAIRMAN opportunity to stay ahead of the competition”. The Exciting times are coming for Pakistan, and creasing the level of financial literacy, among which is SECP bank has already been investing heavily in better- Askari Bank is certainly prepared to meet them. the launch of “Investment and Savings”; a book they ing their technology, with aims at expanding their “Our goal is to be known as the best customer ser- hope can be included in the university syllabus. retail side as well as their commercial side, espe- vice bank in the region”, Sattar says with a smile, Many of the market’s problems of perception cially for sectors such as SMEs and agriculture. “And I’m confident we can reach it”. Agriculture constitutes the largest sector of our economy. It contributes about 24 percent of Gross Domestic Product and accounts for half of employed labour force and is the largest source of foreign exchange earnings. (Pakistan Bureau of Statistics)

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Agriculture constitutes the largest sector of Pakistan’s economy. It represents the highest source of foreign exchange earnings, with 24% of Gross Domestic Product and Agriculture accounts for half of employed labour force. (Pakistan Bureau of Statistics)

FFC Plansite at Sadiqabad, Goth Machhi (Punjab).

Fertilizer Industry, Delivering its Promises

Fauji Fertilizer Company, increased its profits by 35% in 2018 while being recognized as one of the best corporate citizen.

stablished in 1978 as a Fauji Fresh n Freeze (FFnF) is an expres- joint venture between the sion of our organizational interest for the and Dan- farming communities and our effort in pro- ish company Haldor Top- TARIQ KHAN viding sustainability to not only farm earnings soe, Fauji Fertilizer Com- CHIEF EXECUTIVE but also in quality of farm produce to end con- pany (FFC) has grown to & MANAGING sumer. In order to ensure food security for our be one of the largest manufacturers of DIRECTOR FFC nation, we need to look at the dynamics which Echemical fertilizers in Pakistan. Through- sustain farmers through education & training ral population with more tools and resources out its years in business, FFC has sought to on best agri-practices, and we also look at the to improve their conditions. “The idea is that modernize and develop the agriculture sector of market dynamics through which the farm pro- every cluster can have an association”, explains Pakistan by not only becoming the producer of duce is sold to fetch them commensurate in- Khan, “This would work as a clubhouse of sorts, fertilizer brand “Sona”, recognized for its qual- come. FFnF has successfully exported commod- where we want to introduce microfinancing ity amongst farmers of Pakistan, but also it has ities like peas, okra, tangerine, and mangoes options, especially for women”. The financing introduced farmers to best farm management to various countries. We are currently focusing programs would be aimed at helping women and agronomic practices through its various in the Pakistani market and are now offering acquire poultry or livestock, and organizing ba- Farm Advisory Centers all across the country. frozen processed potatoes fries and vegetables sic courses to help them start cottage business- Lt Gen Tariq Khan, HI(M) (Retd), CEO & MD FFC’s diversification efforts are also a story of which have been welcomed by consumers, of- es. The associations would also enact parts of of FFC while talking about the history of the service and contribution to the nation. In line ten we are finding more demand than we can FFC’s corporate social responsibility initiative, company, recounted that FFC is a commercial with the rest of the developed world, when produce. Keeping the high domestic demand in by offering scholarships and creating sports venture of Fauji Foundation. Pakistan decided to adopt and use renewable view, we are planning to increase FFnF produc- programs for children. Other parts of initiative Fauji Foundation was created by a grant for energy sources, FFC management took on an tion capacity and have also doubled our efforts have been led by the Sona Welfare Foundation the welfare of the veterans of World War II who ambitious task of utilizing Pakistan’s wind cor- in training and educating farmers to strengthen (SWF), the nonprofit implementation partner of fought for the British Crown through Post War ridor in Sindh. The first ever renewable -ener our supply chain. FFC. Through SWF, it has laid out a 17 points Services Reconstruction Fund (PWSRF). The gy project called FFC Energy Limited (FFCEL) With a wide portfolio of products and ven- plan in line with the UN Sustainable Develop- singular mission of the Foundation is welfare was successfully implemented that proved to be tures, FFC is now looking to tackle what Khan ment Goals, which includes tackling issues as through its various endeavors in health care, ed- industry defining project and produced benefi- has described as a “personal dream”. Its main important as poverty, hunger, gender discrim- ucation, vocational, technical training and other cial forward and backward industrial linkages. long-term project is the re-structuring of the ag- ination and climate action. “We take pride in benefit projects. This helped usher in a new era ricultural sector of Pakistan. “We the fact that we were one of the Apart from creating one of the for renewable energy projects in believe that National sovereignty first companies to implement a leading brands in the market, Pakistan. FFCEL has so far con- and National security are directly corporate social responsibility ini- FFC’s production rate and its qual- tributed 760 GWh of clean en- linked to GDP”, explains Khan, tiative since our inception.”, says ity is sustained and maintained «We intend to go ergy to the national grid. FFC is “Food security is a part of this, «Anyone who Khan, “In 1982 we set up the by its world class team of human into alternate currently working towards solar and this is where we are going to comes and invests Agri Services Program, which resource which due to unique or- energies in a big wind hybrid setup. This project focus”. The ambitious project con- here will find a was hugely successful, and it has ganizational culture and practices way, not only for is in regulatory approval stage sists of creating clusters of around win-win situation, only expanded since then”. The are managing plants efficiently production, but and would be first of its kind in 50 Farms in order to create farm- regardless of what Agri Services Program includes and making these work above for storage and the Pakistani renewable ener- ing communities, in which FFC five farm advisory centers where original designed capacities, with gy sector. “We intend to go into could provide technological sup- sector they are highly qualified technical service minimum disruptions and con- research as well» alternate energies in a big way, port, and would also handle the involved in» officers strive to inform the public sistently setting new industrial not only for production, but for marketing and the warehousing about the latest agricultural tech- benchmarks. “Our human resource is recog- storage and research as well”. Alternative en- of the products. “We study the soil, which crops nologies, and it now benefits over 1.7 million nized to be amongst the best in Operations and ergies have been growing at an annual rate of are better suited and when to plant them, as farmers in Pakistan. Maintenance (O&M) services all across the 2.5% globally; a pace explained by the lack of well as information about seeds, fertilizers, As one of the most prominent companies in world. We provide services to many clients in technology to best store these types of ener- water management and the impacts of climate the country, having strong ties with the commu- the Middle East, Far and Southeast Asia, and gy. “We are in touch with expert companies in control”, adds Khan, “This would help establish nity and the business world, FFC has continued South America”, said Khan. this sector to develop ways for better storage”, a structured agricultural industry”. The project to bet on the Pakistani market, and has been as- With the help of its extensive marketing and says Khan. will also be tasked with improving the irrigation tonishingly successful at it. “We have immense farm advisory network all across Pakistan, FFC has With the rising economic growth of the coun- system, bringing sub-surface and drip irrigation potential here, and when every other country a unique sense of requirements of farming com- try and in view of equally increasing pressures to the area. has exhausted their potential, we still have loads munities and has been importing and producing on energy, we have ventured into a new ener- As a business side of a nonprofit organization, untapped Resources & Market!”, says Khan with various other nutrients for the soil like sulfate of gy project named Thar Energy Limited (TEL) working to help the development of the country a smile, “Anyone who comes and invests here potash (SOP), muriate of potash (MOP), boron, in collaboration with other partners. TEL is the is the essence of Fauji Fertilizer’s endeavors. This will find a win-win situation, regardless of what zinc. “Subsequent to R&D efforts, we are the first third such project in Pakistan, where we would dream project of a farming community will not sector they are involved in”. company to have implemented a controlled re- be relying on indigenous and abundant coal re- only improve the lease of nitrogen through neem coated urea”, adds serves from Thar. TEL is a 330 MW project and company’s standing, Khan, “We will be introducing it to the market is expected to come into commercial operations but would certainly very soon”. in the first quarter 2021. provide a wide ru-

Individually quick frozen (IQF) Fruits and vegetables processed at Fauji Fresh n Freeze Plant at Sahiwal, Punjab. FFCEL windmill farm at Jhampir, Sindh.

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1.75 million tourists visited Pakistan in 2017. Tourism & Hospitality (Pakistan Tourism Development Corporation). A Tourism Boom on the Horizon The country announced a new, more relaxed visa policy to make it easier for travelers to visit.

romoting tourism is at the Minar-e-Pakistan heart of the current gov- Commemorates the ernment’s efforts to boost day when the Pakistan economic growth. After re- resolution was passed laxing their visa policy last year, on March 23, 1940. Pthey recently announced that 175 countries will be allowed to apply for an e-visa with sig- nificantly reduced fees, a plan that has already «When you look at the footprint started with Turkey, China, Malaysia, the United of the group, it is not just about Kingdom and the United Arab Emirates. They also decided to grant five-year, multiple-entry the 9 Five Star hotels, if you look visas to U.S. nationals hoping this move will be at our current portfolio it is close reciprocated. Business visas have also been ex- to 25 hotels and this year alone panded from 48 to 96 countries and will later we are adding another 12» be increased to 170 countries. Additionally, they The Badshahi Mosque in Lahore . Photo by Hussain Ibrahim on Unsplash. have installed passenger identification systems in Karachi and Lahore airports, and the goal is whose natural untouched beauty has attracted Jabba, which will be the location of Pakistan’s focused on hotel management, but caters to all to set them up in the rest of the country. up to 2.7 million tourists in the last four years, first ski resort; and they will continue improv- roles surrounding tourism”. It started in Islam- Prime Minister Imran Khan’s government 50.000 in 2019 so far. In the long run, Bukhari ing their services, because as Hashwani assures, abad last September and satellite offices will be has also taken steps to promote religious tour- hopes this industry will make 10% of gross do- “When it comes to competition, our focus is on opened in Karachi, Lahore, Peshawar and the ism. His newly appointed Chairman of the mestic product (GDP). product and quality. We are always innovating north. They will be using their own hotels as a Pakistani Tourism Development Corporation This emphasis on tourism is also shared with our services, for instance, we have started a kids base for internships and expect their graduates (PTDC), Sayed Zulfikar Abbas Bukhari, said some of the country’s major business groups. club at the Pearl Continental Karachi so the par- to work in Pakistan and abroad. “This means an Phase-1 of the Katarpur crossing project, which “Our objective and main focus is travel and tour- ents can be kid-free during the day”. They also increase in remittances and a growing skill-set will facilitate Indian Sikh pilgrims to visit holy ism”, says Murtaza Hashwani, Deputy Chairman expect to grow in other fronts, such as the oil which will allow them to start their own busi- sites in Pakistan, will be completed this October, and CEO of Hashoo Group, a premier Pakistani and gas business where “There is always acqui- nesses when coming back to Pakistan, it has a and they are currently working on a pilot proj- business with a wide pres- sitions and drilling” and in manu- whole chain effect” - assures Hashwani. Other ect to ease granting visas to them. Furthermore, ence in all sectors, from hospitality facturing, where their companies Corporate Social Responsability (CSR) projects the PTDC will soon launch their ambitious mega to oil to IT (Information Technolo- Gelcaps Pakistan and Pearl Ceram- are focused on environmental initiatives such project of branding Pakistan abroad as well as a gy) to pharmaceuticals. Hashwani «Pakistan is open ics will continue to expand. “The as banning using plastic straws in all their ho- national tourism promotion application to pro- believes the rapid increase experi- for business entire cutlery you see in our hotels tels, building parks and planting 5000 trees in vide local and foreign tourists all the necessary enced in both domestic and inter- and tourism is is manufactured by us, we also Islamabad, one for each of their employees; and latest information about attractive sites in national tourism since 2014 has provide crockery to Pakistan Inter- as well as promoting female empowerment the country. They are also focusing a lot of ef- been a result of improvements in a great place to national Airlines (PIA) and other through their “Honey Bee Farming” project, forts in promoting the Skardu area, located in three areas, security, infrastructure invest as this is airlines”, Hashwani states. which helps 5000 women from Hunza bring Pakistan’s northern region of Gilgit-Baltistan, and social media, and in turn, this a virgin territory Another positive side of the secondary income to their homes. has created new growth opportuni- with huge tourism boom is the employ- As for international projections, they are ties, specially for the development opportunities» ment and training opportunities looking at management contracts outside of of 3 and 4 star hotels: “When you it offers to locals, an area that is Pakistan, particularly within Africa, the Middle go into small cities there are no hotels to stay, we one of Hashoo Group’s strengths. In 2018 they East and Eastern Europe. “Destinations where are the only branded experience. We provide all launched their 4/18-month training course ‘Star the Pakistani diaspora is present will improve the basic necessities at a very affordable price. of the Future Program’ in collaboration with our occupancy rate”, explains Hashwani. In MURTAZA We own 18 Hotel One which are limited service Sheffield University, UK, which is the first of its sum, Hashoo Group feels optimistic about the HASHWANI hotels and every year we open between 8-9 of kind in the country and has already benefited government’s efforts and the sector’s future. CEO HASHOO them”, says Hashwani. 400 students. “We have a lot of internal train- As his CEO states, “Pakistan offers one of the GROUP In 2019 the Hashoo Group will keep ex- ing and the main challenge is finding mid-level highest returns on investment in the world and panding in the tourism sector, opening four new management. So we have created this school the government is focusing a lot on the ease of hotels in Multan, Hayatabad Peshawar and Mir- in order to form professionals”, explains Hash- doing business. Pakistan is open for business pur, where they will offer a unique hotel over- wani, adding that since they expect tourism to and tourism is a great place to invest as this looking the Mangla Dam, as well as in Malam increase in the future, the school “Is not solely is a virgin territory with huge opportunities”.

Girl Photo by Hassan Wasim. Lake Saiful Malook Photo by Waseem Abbas. Kalash Women Photo by Manal Ahmad Khan. Gilgit-Baltistan. ONE WORLD MEDIA INDEPENDENT SUPPLEMENT ADVERTISING FOR USA TODAY Special Report SUPPLEMENT 11

Tourism & Hospitality Hunza Valley.

Revenue from tourism Citizens from 50 countries contributed around $19.4 bil- are eligible to apply for a Visa lion to Pakistan’s economy and On Arrival under the Tourist made up 6.9% of GDP (World Category. Visas for other Travel and Tourism Council). countries can now be processed online. Bhagwan Morh Coastal Highway by Waseem Abbas. A Place of Comfort and Serenity in a Traditional Pakistani Atmosphere AZIZ The Islamabad Serena Hotel is the only 5-star deluxe hotel in Pakistan, it is a vivid immersion BOOLANI CEO into the culture, heritage and lifestyles of Pakistan’s capital. SERENA HOTELS exterior design of the facilities. The hotels mostly hire local people, as they are the ones represent- ing best the country, they are trained, and pro- vided with proper skills along with the necessary tools such as cloth to sew waiter’s uniforms, pil- lows, curtains and other embroidery accessories. «The beautiful attractions of This enables the local people to learn new skills this country are waiting for you and to earn a living via this approach. Serena Hotels promote sporting and ad- and we, at the Serena will make venturous activities in Pakistan, especially for sure you have an unforgettable women. ‘Karighar’ it is an initiative that aims to stay» empower women from underprivileged areas of Gilgit-Baltistan through skills training. Ser- ena Hotels also sponsored Samina Baig in her Islamabad Serena, a member of the Leading Hotels of the World. bid to become the first female mountaineer to reach the seven highest summits on the seven s a pioneer in the hotel The Serena Hotels are very active in creating continents. The government acknowledged her industry in Pakistan, Sere- prosperity and sustainable development in the efforts and awarded her a prize for being the na Hotels are an affiliated region. They explore and promote culture, tra- youngest Muslim female mountaineer to have member of Leading Hotels ditions and values, as well as paying particular accomplished this feat. of the World, it has achieved attention to women in the field. corporate social Through their public diplomacy initiative the Aexcellency by impeccable services to its guests and responsibility (CSR) is high on Serena Hotels list Serena Hotels promote health, education, cul- offering a full range of spas, fitness centre, banquet of priorities; the hotels promote sports, cultural, ture and the economy. halls, meeting and conference facilities not to adventure, and public diplomacies. “We are a part Aziz Boolani, CEO at the Serena Hotels gives mention its dining areas specializing in West- of multiple CSR initiatives which are not just limit- a message of hope regarding the future of tour- ern, Middle Eastern and Asian food. ed to Pakistan. Our CSR initiatives not just limited ism in the country: “My message to the USA To- Pakistan is making tremendous improve- to Pakistan but cover all of our hotels around the day readers is an invitation to visit Pakistan. It is ments in terms of tourism, it attracted over 1 world”, said Aziz Boolani, CEO at Serena Hotels. completely safe, thousands of tourists come here million foreign tourists in 2018, and domestic Pakistan is a rich country in terms of culture every year and that number just keeps on grow- tourism industry is estimated at 50 million tour- and each area of the hotel has its own fine art, ing. The beautiful attractions of this country are ists who travel in the country on short trips usu- cloth style and architecture. The cultural aspects waiting for you and we, at the Serena will make Historical Wazir House, built in 1936, adjacent to ally between May to August. of each region are depicted on the interior and sure you have an unforgettable stay”. Swat Serena Hotel. Different Hotels for Different People

“If we were not the best, we would not be expanding as we are doing”, says Chairman Byram Avari.

n 1978, Avari Group Chairman have now launched a new series under the Byram D. Avari won a gold medal brand of Avari Xpress, which repackages 5 star in Yacht Racing at the Asian Games, hotel amenities, under 4 star prices. “Xpress the first Pakistan had ever won, followed has everything a 5 star would have, except for by a second gold medal, with his wife a swimming pool” and large F&B (Food & Bev- Ias his crew at the 1982 Asian Games. 30 years erage) facilities, explains Avari, “They are plac- later, his company became the first Pakistani es for business people, who only need to stay group to obtain management contracts to op- a couple of nights for work, with all the nec- Avari Lahore. erate locally and abroad. The Avari essary amenities and at a more Group now manages over eight ho- competitive price” The Avari Group’s plans for expansion include With an impressive expansion rate and opera- tels with six more hotels opening The concept aims at market seg- the already announced hotels in Gujranwala, tions across Pakistan and abroad, the Avari Group during 2019 – 2020 in Pakistan, «Our focus is on mentation, understanding there Bhurban, Muree, Sargodha, Sialkot and more at has become a major player in the tourism sector. the luxurious Avari Dubai, which local brand value, are different needs for different Lahore and Islamabad, along with seven other As important investors as well as job creators, the features 170 rooms and the Avari wich is why we clients, and ensuring everyone unannounced locations. Most of these are built company has been deeply involved in corporate AlBarsha Hotel close do not franchise. can enjoy their hotels. Part of by the owners to the specifications of the- Av social responsibility programs. “We do not like to the Mall of Emirates in Dubai. Customers can the reason why they are able to ari Group, which allows a rapid expansion of to talk about this”, says Avari humbly, “We don’t Their impressive growth has been offer such price value, is the for- the properties. “Our corporate structure is also believe in advertising our efforts”. Confident in captivating the attention of the be confident that mula that Avari himself designed, key”, says Avari, “This ensures that standards what the country has to offer, the Avari Group tourism industry for years, and ap- they will find the in which instead of owning the are maintained across our hotels. We train all of is sure to continue growing, while contributing parently, they are just getting start- same level of property, they lease the buildings our staff, first in the 5 star hotels, and then we to Pakistan’s economy. “People should not go ed. “Tourism in Pakistan is going to quality service in from owners. “We started with move them to other locations”. by perception”, says Avari, “They should come continue growing”, says Avari, “We any of our hotels» two houses, where the rent was Throughout their years of experience, Avari’s and see, I promise they will want to come back have great future for adventure, Rs 5000 ($3.500) per month”, hotels have been awarded several recognitions, several times”. BYRAM D. AVARI business, religious and medical recalls Avari, “Within a couple of such as the Word Travel Award for Pakistan’s «Family owned since tourism; leisure is the next big challenge”. years, we were paying Rs 1.5 million a month. Leading Hotel on eight different occasions. Nev- With an innovative concept, Avari has man- With my formula, 27% of room revenue go to ertheless, they have also faced their fair share of 1944, proudly Pakistani» aged to establish great presence with hotels all the owners, so when we do well, they do very challenges along the way. “Tourism needs three over the country in cities such as Lahore, Kara- well”. This strategy has enabled them to grow at things: security, law and order, and perception”, chi, Multan, and Islamabad. Though a faster pace than others, even though they do explains Avari, “Pakistan has begun to turn per- many of their properties are 5 star hotels, they not have a franchise model. ception, but there is still more we should be do- ing as a sector, so all of us can grow by increas- ing the pie instead of eating into each others slice”. Pakistan’s tourism has in fact seen steady growth for years, and government projections estimate it will be a $9.6 billion dollar industry by the year 2025. This positive economic climate for hotel devel- opers has attracted many to invest in Pakistan, with large chains and franchises looking for oppor- tunities in the country. However, the Avari Group remains confident in what sets them apart. “We started with a model of local chain business”, ex- plains Avari, “Our focus is on local brand value, which is why we do not franchise. Customers can be confident that they will find the same level of View of the Beach Luxury Hotel Karachi. quality service in any of our hotels”. Avari Tower Karachi. ADVERTISING ONE WORLD MEDIA INDEPENDENT SUPPLEMENT 12 SUPPLEMENT Special Report FOR USA TODAY

At present an addition of 200 Half of the potential from wind megawatts of wind energy and generation to supply all of Pakistan’s Energy & Petroleum 1000 megawatts of solar energy are electricity needs exists in one planned project within CPEC. contiguous belt of Sindh. Diversifying the Energy Portfolio and Moving Towards Greener Energies Higher efficiency in the energy department will lead to a better distribution of electricity.

aving previously served Originally established by the Government in as Minister of State for Fi- 1974, the National Power Construction Corpora- nance between 2004 and tion (NPCC) moved to Saudi Arabia after it was 2007, Omar Ayub Khan privatized and acquired by a Saudi company in returned to the Federal 2015. Since then, it has been awarded contracts HCabinet in 2018, this time as Minister of En- in several countries and has restarted activities ergy, and was later given the additional charge in Pakistan with many power projects. “We are of the Petroleum Division. Under his leadership, a contracting company and our main focus re- the focus of the Ministry has been to tackle Pa- mains to secure contracts in transmission lines”, kistan’s energy crisis by improving the condi- explains current Managing Director Muhammad tions to produce and transmit energy across the Ajaz Malik, who has been at the company since country; “We are changing the tariff structure to OMAR AYUB KHAN its inception, “We look forward to remaining MUHAMMAD AJAZ MALIK CE0 increase efficiency and reduce debt”, says Omar MINISTER OF ENERGY AND PETROLEUM actively engaged in Pakistan and our target for NATIONAL POWER CONSTRUCTION COMPANY Ayub, “We are also improving access for more business turnover is to reach 5 to 6 billion Rs people and have launched a new policy for al- «Our target is to bring this year”. «We look forward to ternative energies”. renewable and indigenous Following their move to Saudi Arabia, the remaining actively engaged Pakistan’s energy mix today is widely depen- energies up to 20% by 2025 company began to obtain contracts in places in Pakistan and to reach Rs 5 to dent on imported fossil fuels, which represent and 30% by 2030» like Kuwait, the UAE, and they are now the 6 billion this year» 60% of all energy generation. The rest is made number one company in Pakistan in the con- up of 30% hydropower, 6% nuclear and only 4% struction of transmission lines: “Currently we renewable; “Our target is to bring renewable ten of which are already being advertised to are working on two large projects in the Mu- Established in 1983, Akbar Associates is a and indigenous energies up to 20% by 2025 be sold at auctions, and is looking to boost ex- zaffargarh area and west of Karachi, as well multi-facet business house that offers services and 30% by 2030”, explains Omar Ayub, “We ploration in promising areas like Balochistan. as a smaller one in Multan”, says Malik with and products in a wide range of sectors such as want to open this market for local companies, “The objective is to increase the sedentary area a smile, “We have roughly 3 billion Rs in con- the oil and gas industry, mining, software and private-public partnerships and foreign-owned of Pakistan so more seismic teams can be de- tracts in Pakistan today and they are all going supply chain management. Today, they employ companies alike”. ployed and more explorations can be done”, smooth”. In addition to these contracts, NPCC 500 full-time workers and have reached an annu- During previous administrations, the energy adds Mian Asad Hayaud Din, “All is also expecting a bid of 500KV al turnover average of $ 31 million. sector saw a build-up of , which re- of this plays with the objective of under the China-Pakistan Eco- Their success has largely been the result of sulted in almost $ 5 billion. In order to reduce reducing our dependence on im- nomic Corridor (CPEC), and have a sustained strategy of diversification, which has this amount by a quarter in less than a year, the ported fuel”. Their new policy is «Our new been pre-qualified for another led them to become pioneers in different fields. Ministry has restructured the tariff system and aimed at incentivizing new com- project in Afghanistan. “Mining is the oldest sector of our business, but launched a campaign to stop energy theft and panies to come to Pakistan and petroleum Having been Managing Direc- it is also where we want to focus for the near fu- reduce line losses; “The new structure allows us help open the market, “Our new policy also offers tor since 1981, Malik has person- ture”, explains Jamal Akbar Ansari, CEO of the to pass oil price increases and decreases direct- petroleum policy also offers off- offshore rates ally seen the company’s growth Akbar Associates Group, “We are sitting on the ly to consumers without affecting low-income shore rates for companies willing for companies throughout the years. “I’m very second largest barite reserves in the country, so groups”, explains Omar Ayub, “By increasing to explore insecure or inaccessible willing to explore proud of the teams we have built we want to enhance our mining capabilities”. our revenue we can reinvest more and improve regions”, adds Mian Asad Hayaud insecure or at NPCC. We have done very chal- Another sector in which the company has de- access”. According to the World Energy Out- Din, “We want to attract foreign lenging projects and have always cided to focus on is the Internet of Things (IoT), look 2016 statistics, 27% of Pakistan’s popula- investors, especially from the U.S. inaccessible been successful because of the a new area in which they have already pro- tion lives without access to electricity, which is and European markets”. In addi- regions» team”, he says proudly, “In Paki- duced software for hospital management, and why improving access in rural areas by prop- tion to the new policies, the Min- MIAN ASAD HAYAUD DIN stan, the skills of the transmission are currently designing hardware that would erly distributing energy is one of the Ministry’s istry is also looking to hire three workers are outstanding”. support it. top priorities. experts in the field to assist them on the matter As the projects in Pakistan increase due to Following their vision to expand their region- Though they currently face a series of chal- of refineries, especially since Saudi Arabia, the renewed public investment, NPCC welcome the al presence, the company is open to creating part- lenges, Omar Ayub remains confident that the United Arab Emirates (UAE) and China have challenge and invite others to bet on the coun- nerships with foreign companies, especially from future is bright for this sector: “This is the fuel been showing strong interest in such ventures. try. “American construction companies should the U.S. “We have licensing agreements with U.S. tank of our economy. It is a very open, well-reg- With important multinational companies participate in power development projects, companies for provision of goods and services lo- ulated market, which will be very competitive in like ExxonMobil, ENI and MOL already oper- from which they have shied away in recent cally”, explains Akbar, “But we would also like to the near future”. ating in the country, the Ministry is hoping that years”, concludes Malik, “The sky is the limit export some of our own products, which are very In line with the Ministry’s reforms, the their new simplified approval regime and bu- when it comes to opportunities in Pakistan”. competitively priced”. Petroleum Division has begun to transform reaucratic reduction will encourage others to many of their regulations in the hopes of im- invest in the country. “The fact that these top proving the environment for both, local and companies are here shows that there is a lot of foreign oil and gas companies. “We are com- potential”, concludes Mian Asad Hayaud Din, mitted toward increasing exploration and re- “Investors will be able to do business, have ducing the cost of doing business”, says the great returns, and have a good relationship Federal Secretary for the Ministry of Energy with their host country. Our main goal is to (Petroleum Division) Mian Asad Hayaud Din. minimize the interface and the cost of doing Today, the Ministry has 41 exploration blocks, business with the government”. TRUSTED FOR

contributing to TURNKEY the national agenda on self-reliance POWER AKBAR ASSOCIATES GROUP Heavy Engineering, Mining, IOT & IT, SCM PROJECTS Oilfield Goods & Services, LPG, Hospitality

NATIONAL POWER CONSTRUCTION CORPORATION

Saudi Arabia Branch NPCC Head Office Dubai Branch Office # 18, Beautat Business Park, 9-Shadman II, Lahore, Pakistan Office # 1408, BB2, Mazaya Al-Shati District, Malik Road, Jeddah Phone: +92-42-35407173-74 Business Avenue, Jumeirah Lake Phone:+966-12-613 2073/2173/4194 Email: [email protected] Towers(JLT), Dubai, UAE # 2nd Floor, FJ Plaza, Email: [email protected] Phone: +971-44519210/036/265 Block 2, Markaz F-7,College Road, Email: [email protected] P.O. Box 1416 Islamabad 44210 Pakistan Tel: +92-51-2651701 Fax: +92-51-2651702 email: [email protected] www.npcc.com.pk www.akbarassociates.com ONE WORLD MEDIA INDEPENDENT SUPPLEMENT ADVERTISING FOR USA TODAY Special Report SUPPLEMENT 13

Energy & Petroleum

Khan, Managing Director and Chief Exec- Energy Without Borders utive Officer of the company, “We have- dis covered about 3 trillion cubic feet of gas in place and approximately 88 million barrels of MOIN One of the major players in the energy sector of Pakistan since oil in place.” Fueled by the urge to constant- RAZA KHAN 1950, Pakistan Petroleum Limited (PPL) plans to lead the country ly push the limits, PPL ventured into mining MD & CEO forward into the future of energy exploration. through the Bolan Mining Company, a joint PAKISTAN venture with the Government of Balochistan, PETROLEUM Pakistan’s largest province. “Right now, we LIMITED are mining barite but in the near future we plan to mine lead, iron ore and zinc”, explains Khan, “We are also applying for a copper min- ing license. We expect to generate additional revenue with a turnover of about $100 mil- «We want to continue to expand lion in the next two to three years”. our exploration, but we need Despite the fact that PPL has managed to get more mul­tinationals to to increase its oil and gas production this share this job with us» year and pushed up profitability by 36% in comparison to the corresponding period last year, their primary concern is to achieve en- in terms of management and conduct but ergy self-sufficiency for Pakistan. “We want has also proved to be a leader in corporate to continue to expand our exploration, but social responsibility. For 14 consecutive years this won’t be enough, we need to get more between 2004 and 2017, the company has multinationals back in Pakistan to share this bagged the Pakistan Corporate Philanthropy’s job with us”, explains Khan, “Gas production Award for being the largest corporate giver in has been the same for the past 14 years but terms of volume of donations. the customer base has increased so there is As they continue to work with best gover- a huge gap in demand and supply. In order nance practices that have led them to become to solve this problem, we need to diversify”. titans of Pakistan’s energy sector, PPL is sure In addition to mining, PPL has ventured into to setting new benchmarks in their effort to Gas Processing Facility IV ,Gambat South. international exploration and begun work in achieve a safe and sustainable energy future its operated Block 8 in Iraq, “In order to at- for the country. “About 70% of the land area ince its establishment in 1950, commitment to the country’s energy future tain energy security, going international is of Pakistan is basically unexplored. Besides, Pakistan Petroleum Limited has led the company to venture into mining crucial because it frees us from the con- there is a huge offshore basin, measuring (PPL) has been a major play- and international exploration as well as study- straint of boundaries and widens our some 290,000 sq km, which is still unex- er in the energy sector. PPL ing renewable energy prospects. horizons”, adds Khan. plored”, concludes Khan, “We will continue to Swas originally set up as a private In a country where the oil and During the last about 70 years explore it because there are great opportu- company with Burma Oil Compa- gas sector is over 100 years old, of its operations, PPL has not nities, not only for us but for anyone that ny (BOC) as its major shareholder. PPL has played a pioneering only been a model company wishes to come and work in Pakistan.” Today, however, 67% of the com- «There is a huge role in supply of natural gas for pany’s shares are held by the Gov- gap between the national grid from Sui Gas ernment of Pakistan, the remaining field in the early 1950s and still 33% are being owned by private demand and remains an oil and gas major investors and employees. supply of energy. in the energy sector. Currently, As the second largest producer In order to solve the company has 47 exploration and taxpayer in the country, PPL this problem we blocks, 28 of which are oper- contributes about 20% of Paki- need to diversify» ated by the company whereas stan’s total natural gas supplies in the others 19 are operated by addition to producing crude oil, liquid natural joint venture partners. “Since 2012 we have gas and liquefied petroleum gas. Further, PPL’s drilled 56 exploration wells”, says Moin Raza Seismic survey, Dhok Sultan Block. ADVERTISING ONE WORLD MEDIA INDEPENDENT SUPPLEMENT 14 SUPPLEMENT Special Report FOR USA TODAY

Energy & Petroleum

Transforming Industries, Empowering Communities through Disruption

Committed to harnessing Pakistan’s enormous shale potential; leading the data management

ATIF RAIS KHAN revolution through the cloud and AI (Artificial Intelligence); and shaping the future of the CHAIRMAN & CEO LMKR AND LMKT country’s knowledge economy, LMKR and LMKT symbolize innovation at its best.

MKR’s story in Pakistan is formation gap on the shale potential of Pakistan, a case study in how a gen- along with an economic feasibility assessment of erous and committed lead- shale gas and oil. ership can achieve success The findings revealed shale oil and gas recov- despite the odds. In 25 short erable reserves of 58 BSTB (Billion of Stock Tank Lyears, LMKR has firmly established itself as a Barrels )and 188 TCF (Thousand Cubic Feet), re- leading global petroleum technology service spectively in Pakistan. These discoveries have the provider. With offices in Houston, Denver, potential to not only fuel supplies for another Calgary, Port of Spain, Dubai, Kuala Lumpur few decades but also create a positive econom- and Islamabad, LMKR provides interpretation, ic impact on the country. processing and data management services to However, the economic engine of the future clients in more than 80 countries including may not require hydrocarbons at all. This is es- oil and gas giants like Halliburton, BP, Shell pecially true for Pakistan, a country that has the and ExxonMobil. potential to produce 2.334 million MW (Mo- The man behind LMKR’s success is serial lecular Weight) of electricity per year through Startups at the National Incubation Center (NIC) Peshawar exchanging ideas. entrepreneur, Atif Khan. His journey so far has photovoltaic and solar thermal systems. seen him transform the global petroleum tech- In 2010, Khan cofounded LMKT, an inde- dress the skills gap in the local IT sector. As nology sector, create an award-winning infor- pendent information technology company to a result, LMKT has become heavily involved «Today, LMKR is investing mation technology company and more recently meet the local market’s sustained IT (Infor- in Pakistan’s tech incubation space. They man- heavily in technologies to tap revolutionize Pakistan’s media space through a mation Technology) needs in transport, agri- age incubation centers in Karachi, Lahore and unconventional resources of direct-to-home service. Under his leadership, culture, governance and clean energy sectors. Peshawar, where it looks to provide young en- shale oil» LMKR has built an extensive exploration and Over the last nine years, LMKT has worked trepreneurs with access to more experienced production solutions portfolio including tools with the government on various e-governance, companies, as well as business trainings and and technologies for harnessing Pakistan’s agriculture and transportation initiatives, in- access to capital funding. ture a significant portion of the urban and rural enormous shale potential. vested in various solar and wind technology LMKT’s various incubation facilities not mindshare. This will enable LMKT to carry out “We are a leading petroleum software ventures and has created the largest tech incu- only aim to provide a conducive space for in- effective awareness and advocacy campaigns on provider in many key areas of the exploration bation footprint in Pakistan. novators and start-ups but also pressing development themes including educa- and production value chain, especially in the Innovation is most com- to create inventive, disruptive tion, health, governance and others. U.S. independent market”, says Atif Khan. “In monly a result of experience and sustainable solutions to The collaboration with StarTimes Group can a largely turbulent oil and gas global market, and new blood. Pakistan is a tackle some of the most chal- help boost foreign investment, communication our focus on R&D (Research and Development) country with a significant youth «Pakistan is a lenging problems faced by our exchange and facilitate projects between both has helped LMKR establish and maintain its po- bulge, where universities churn society. China and Pakistan. This partnership can also sition in the industry.” out IT graduates at a very high country of 220 “Youth-led entrepreneur- enhance cooperation between StarTimes’ ex- Almost two decades ago, the company rate and good employment op- million, 64% of ship is the future of our country isting businesses in 22 African countries. Khan created Pakistan’s first online exploration and portunities are hard to come by. which are under but no matter how disruptive is of the view that such collaborations can en- production data repository as a result of a suc- “There is a shortage of job 30. These numbers and inventive, ideas alone do hance technological and cultural exchange be- cessful public-private partnership, which at the creators in the country”, ex- translate into not produce successful sustain- tween countries and regions. time was one of only three repositories of its plains Khan. “A vast majority of immense opportunity able businesses,” adds Khan. Within their respective spheres, LMKR and kind in the world. Today, LMKR is investing IT graduates have a great under- “Incubation centers provide the LMKT have consistently strived to be agents heavily in technologies to tap unconventional standing of the technology but for business and space where experienced men- of growth and change. Both companies are in- resources of shale oil. they lack the business acumen investments as there tors can offer idea-specific -ad volved in various corporate social responsibili- required to establish and run is a limitless supply vice and address real deficien- ty (CSR) programs to uplift local communities. a business.” of talent and skilled cies that can transform an idea LMKT regularly invests in public service projects «Youth-led entrepreneurship Throughout Khan’s entre- resources. Therefore, into a business.” that otherwise have difficulty raising funds. A is the future of our country but preneurial journey, his focus Incubation is not the only latest example of this is an investment in Mo- don’t miss the boat!» no matter how disruptive and on people has been a con- new avenue that LMKT is explor- hafiz, a lifesaving mobile application that broad- inventive, ideas alone do not sistent factor. A key factor ing: the company is now enter- casts life-threatening situations to your nominat- produce successful sustainable of LMKR’s success has been its ability to dis- ing the Pakistan’s media realm. ed In Case of Emergency (ICE) contacts. cover and groom talent. The company’s com- LMKT is investing heavily in direct-to-home The collective vision of the combined group businesses» prehensive induction and training programs (DTH) broadcasting through its venture Start- of companies is to be able to use technology help fresh graduates and young professionals Times Communication, which is formed in as an enabler in transforming industries. Khan get the skills and knowledge that is essen- partnership with StarTimes Group China. As part asserts that Pakistan offers immense opportu- Khan believes that LMKR’s global alliances and tial to get ahead in the industry. As a result, of this collaboration, StarTimes Group plans to nities to businesses as it moves to improve key experience working in the U.S. hydrocarbon LMKR/T’s current and former employees be- make up to $ 300 million of foreign direct invest- development indicators across important sec- market is a huge asset for tapping into the deep come global ambassadors for the business, ment in the prospective expansion of the DTH tors. While challenges persist, those who move and complex shale structures in Pakistan. Ex- an essential asset when it comes to forging business. LMKT will act as the local partner to now will have the opportunity to become im- ploitation of unconventional resources is vital industry alliances. provide content, technology and channel man- portant stakeholders in a digital-first economy. for Pakistan to meet energy shortages, and to Khan firmly believes that the practices and agement services. Khan concludes: “Pakistan is a country of reduce oil and gas imports. With this , policies his different ventures have applied in- Khan is of the view that having a strong pres- 220 million, 64% of which are under 30. These LMKR along with Houston-based oilfield ser- house can have a tremendous impact to ad- ence in the media space will allow LMKT to cap- numbers translate into immense opportunity vices company, NUTECH, conducted a compre- for business and investments as there is a lim- hensive shale oil and gas study supported by the itless supply of talent and skilled resources. USAID, with an aim to fill a critical geological in- Therefore, don’t miss the boat!”.

CONTACT US +1.281.495.LMKR / +1.281.495.5657 [email protected] www.lmkr.com

LMKR team celebrates its 25th Anniversary in Shakarparian, Islamabad, on June 2019. ONE WORLD MEDIA INDEPENDENT SUPPLEMENT ADVERTISING FOR USA TODAY Special Report SUPPLEMENT 15

Energy & Petroleum Oil and Gas exploration firms are looking to diversify their portfolio into midstream and downstream as well as internationalization.

Produdction facilities at Halini, Karak Mari Petroleum $25B Mari Petroleum Block, Punjab & KPK Exploration 2019 Revenues Highest exploration success ratio Grew from $6Billion in FY 2016 of 70% compared with industry $6B to $25Billion for FY 2019. average of 33% (National) and 2016 14% (International).

Taking the Lead in Pakistan’s Oil and Gas Sector

With a 50-year trajectory and having reached the highest standards in the country, Mari Petroleum now wants to become a key international player.

ari Petroleum Com- pany Limited (MPCL) is an award winning, ISO certified, integrat- ed exploration and Mproduction company recognized for be- ing the most competitive in Pakistan’s oil and gas industry. Present in all four provinces, it currently manages and operates the country’s largest gas reservoir at Mari Gas Field in Daharki, Sindh, and is the second largest gas producer with a cumulative daily production of 100,000 barrels of oil equiva- ISHFAQ NADEEM AHMED lent and a gas market share of around 18 per- CEO MARI PETROLEUM cent, “We have the highest share price among all oil and gas companies in the country”, says «We are the most efficient Mari Petroleum’s CEO, Lt Gen (Retd) Ishfaq company in Pakistan and the Nadeem Ahmad. “We are the most efficient company in Pa- fastest growing one for three kistan, and the fastest growing company for years running» the third year running”, he highlights, refer- ring to the company’s productive combination Zarghun South Gas Field, Balochistan. of having a 70% exploration success rate, the highest in the country and well above the in- for their next five years’ core oil and gas up- Health and Safety Executive (HSE) and cor- sector. While Ishfaq recognizes the efforts being dustry’s 33% national and 14% international stream operations, they are now planning to porate social responsibility (CSR) practices, it made by the current Ministry of Energy, stat- average, and being the country’s most cost diversify their offerings beyond the explora- received this years “Overall Platinum Award”, ing that “the policies that the government has efficient E&P company with the lowest oper- tion, production and sale of gas, oil and oth- the highest in the overall category of Em- brought in are good and a lot of corrective mea- ational cost of under 10% of the gross sales. er petroleum products. They are particularly ployers’ Federation of Pakistan’s (EFP) “Best sures have been taken”, he hopes other propos- In 2018, it managed to post its highest interested in partnering up with foreign com- Practices Award for Occupational Safety and als being suggested will be implemented soon, ever production of 34.02 million barrels of panies willing to invest in Pakistan or allow- Health and Future of Work”. Such acknowl- such as formulating Shale Gas policy and carv- oil equivalent energy. In terms of financial ing them to invest abroad. As Ishfaq believes edgments reflect the company’s commitment ing out frontier zones with better prices. With performance, Mari Petroleum’s gross sales that the time is right for MPCL to play a leading towards the well-being of its employees, the these changes, Ishfaq assures, companies like exceeded Rs.100 billion for the role at the international level: “Be- communities where they oper- Mari Petroleum and their poten- first time since the company’s cause of our success ratio and our ate and the Pakistani society in tial foreign partners will be able to foundation in 1984, a tendency attitude, most of the foreign com- general. As Ishfaq explains, they expand their exploring ventures: that continues in 2019. Net Prof- «One of the panies want to work with us. We have an extensive CSR policy, «Now is the “There is a gap between energy it surged by 68%, up to Rs 15.4 are already positioned for them to continuously investing in edu- supply and demand. For instance, billion in 2018, and the company company’s main work with us. If you ask any com- cation, health, water supply be- time to come in the gas that Pakistan needs is 7 is well on track for unprecedent- accomplishments pany, they would prefer to work yond statutory CSR obligations, and capture the BCF( Billion Cubic Feet) per day ed profitability in the financial is its role in ensuring with us rather than our competi- “The government’s requirement market because but we are only able to produce year 2019. Due to this impres- the country’s food tors. We have worked with many from us is $30,000 per block per the situation is 4 BCF. This gap needs to be filled sive performance, the company security» multinational companies such as annum but we spend a lot more improving» and for the short term the reliance has been recently awarded the Tullow (UK), MOL (Hungary), than that. We have spent mil- has to be on imported LNG, but “Prime Minister’s Award for Corporate Excel- OMV (Austria) and ENI (Italy). lions of dollars over the past decade on var- imported LNG is twice as expensive as the gas lence” and “Fastest Growing Company of the Among the different diversification proj- ious CSR initiatives in different areas. We are explored and produced within Pakistan. Our Year Award” at the 32nd Cham- ects they’re potentially willing to take part now building a special children’s school in our eventual reliance therefore has to be on locally ber of Commerce and Industry International in, they look forward to setting a gas fired mother field and this will be the best special produced gas.” Achievement Awards 2019 in Kuala Lumpur, 180-megawatt power plant as well as looking children’s school in Pakistan. We set up medi- Despite the challenges, Mari Petroleum’s Malaysia. The awards were conferred by his at other options such as investing in renew- cal facilities and schools, we give free medical CEO is optimistic. Having served his country Excellency Dr. Mahathir Bin Mohamad, Prime able energy, in midstream and downstream oil treatment in far-flung areas, and we also hire with distinction as part of the military, his lead- Minister of Malaysia. pipelines coming from south to north or work- people from those areas on contracts and pay ership abilities have now contributed to the Moreover, one of the company’s main ac- ing with an already established refinery. them good salaries so there is a mini revolu- company’s success since his appointment as CEO complishments is the crucial role it plays in Mari Petroleum’s strengths, however, are tion wherever we go. We spend around 3% of in 2017 and keep impelling it towards a broad- ensuring the country’s food security, as most not limited to its production schemes. Apart our income each year on CSR in these areas”. er, global scale. “We have been able to enhance of the urea production in the country is based from being recognized in 2017 for its good However, there are still things to improve in the the company’s profit and bring it on the interna- on MPCL supplied gas: “We supply 80% of the tional map”, he assures, adding that as a result, gas to the fertilizer industry from our Mari UK based Plimsoll placed them as the 29th most Gas field. This results in cheaper fertilizer profitable company in the world out of 289 com- and more profits for the farmers because the panies analyzed, and the FTSE (The Financial gas we provide is produced locally and much Times Stock Exchange) put them on the list of cheaper than alternative sources”, says Ishfaq. the top Pakistani companies to work with. Furthermore, as the production from this field In the future, Ishfaq hopes Pakistan will was expected to start declining from this year, consolidate itself as a profitable investment they managed to drill and connect 19 more destination and Mari Petroleum will attract wells in the field’s periphery that will ensure partnerships with foreign companies from the the continuity of the supply to the fertiliz- U.S. and all over the world. “If you wait for the er industry in the near future, and are now environment to be totally favorable by western working to enhance this period even further. standards, you will miss the boat. Now is the “This is a major achievement by Mari”, he as- time to come in and capture the market be- sures, proudly reminding us that in the last 50 cause the situation is improving security wise, years Mari Petroleum has the unique record legislation wise, policy wise, facilitation wise of maintaining gas supply from Mari field to and there is a lot of local expertise here. The the fertilizer and midstream industries as well next 2 years are very important for the compa- as the power sector without any interruption, nies to come and invest in Pakistan”, he says. not even the permitted outages. Given his long commanding history and Mari Due to the company’s current financial Petroleum’s impressive credentials we certainly success, which allowed them to secure funds MPCL Head Office on March 23, 2019. believe so.