Leaders unveil vision for business growth

Discuss need for concerted effort to balance climate action at the Future Summit

KARACHI:

Prominent business leaders convened at the 7th edition of “The Future Summit (TFS)” in Karachi, emphasising the critical role of sustainability in the growth of businesses. The discussions delved into the imperative nature of sustainability for robust business strategies that go beyond mere clichés.

K-Electric Limited CEO, Syed Moonis Alvi, highlighted the significance of sustainability in the energy ecosystem, emphasising the need for a concerted effort to balance climate action. He outlined the core principles of affordability, accessibility, and energy security as vital components of sustainable goals. Alvi expressed K-Electric’s commitment to customers, shareholders, the environment, and communities, driving their ambition for a future marked by sustainability, innovation, and customer-centricity along the entire value chain.

Addressing the impact of climate change in Pakistan, particularly evident through devastating floods, Alvi drew attention to the interconnectedness of sustainability with both significant and smaller-scale issues. He noted the challenge posed by the fact that 40% of the population resides in slums, where electricity consumption is widespread.

Speaking at the two-day summit co-hosted by Nutshell Group, Habib Bank Limited (HBL), Overseas Investors Chamber of Commerce and Industry (OICCI), and Corporate Pakistan Group, Alvi elaborated on the dynamics of the energy sector. He emphasised K-Electric’s commitment to sustainability through a focus on renewables, integral to a holistic future investment plan. The plan aims to strike a balance between affordability, accessibility, and sustainability, with a vision to increase the share of renewables in K-Electric’s generation mix by 30% by 2030.

Highlighting K-Electric’s safety initiatives, Alvi showcased the Global Award-winning Roshni Baji programme. This programme trains safety ambassadors in hazard-prone areas, reaching over 660,000 households in three years and significantly reducing electrical safety incidents through heightened awareness.

Contributing to the discussions, Yousaf Hussain, President and CEO of Faysal Bank Limited, underscored the importance of identifying successes and leveraging insights to drive progress. He highlighted the need for transformative change by replicating and building on achievements.

Systems Limited, CEO, Asif Peer highlighted the evolving role of technology in leadership decisions. He emphasised the strategic value of data and the shift in leadership styles driven by technological advancements. Peer encouraged a focus on productivity through technology rather than relying on subsidies.

Published in The Express Tribune, November 16^th, 2023.

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