Blue Chip

GOVERNANCE

B L U E .C H I P

Opportunities Abound: Distressing Economic Track Record

by Saad Amanullah Khan

Former CEO Gillette Pakistan

E

very morning when the sun comes up, the citizens of Pakistan wake up to millions of opportunities to grow, to thrive, to create value and to improve their standard of living. Due to extremely poor governance environment, pitiable infrastructure and monarchical political system, none of these opportunities ever see the light of day. Many have written off this country in the annals of history, but I disagree with this submission and instead will show the vast opportunities as well as God given resources, both human and natural, that Pakistan has to offer. However, without long-term planning, vested interest of rulers and senseless and convoluted strategies, all opportunities will get wasted. Opportunities don’t come knocking twice; we must try, with urgency, to find ways to harness all these astounding prospects. TOUGH CITIZENS & RESILIENT INNOVATORS Innovation is the cornerstone of success. Whether it’s an individual, or a company or a country, if it does not innovate, if it does not use latest technology to advance or if they don’t have a vision for a bright future, they will not prosper or progress. This is very aptly stated in the Bible, Proverb 29.18 ‘Where there is no vision, the people perish’. “The Global Innovation Index” is the most comprehensive and contemporary study of the innovation ecosystem carried out by INSEAD (Fontainebleau, France). The survey is carried out every year, it tracks two factors, i.e. ‘Innovation Input’ and ‘Innovation Output’. Let me explains both: 1. Innovation Inputs: Enabling environment for Innovation – it is made up of 5 pillars: 1) Strength of Institutions, 2) Human Capital and Research; 3) Infrastructure, 4) Market Sophistication and 5) Business Sophistication. If you track this from 2008, the shocking reality is that Pakistan rating has literally plummeted in the last 5 years,...