Experience the Ultimate Fusion of Sports and Technology at OlymTech Sports Gala!

on 18/10/2024

OlymTech Sports Gala will be held on Saturday, November 16th, 2024, at Legends Arena Karachi. The event will be hosted by Tech20Four

This groundbreaking event redefines the boundaries of sports and technology, offering a unique platform for over 1,500 tech leaders (CxO) to engage in friendly competition and step out of their comfort zones, rediscover the joy of physical activity through thrilling sports challenges, Witness the synergy between technology and sports, shaping the future of innovation and athleticism.

Underperforming Institutions of Science and Technology Ministry Face Shutdown

on 17/10/2024

Several underperforming organizations under Pakistan’s Ministry of Science and Technology may soon face closure, according to official sources. A committee has been established to identify those institutes that have failed to deliver satisfactory results.

This move comes in the wake of concerns over the ministry’s overall efficiency, which has prompted the government to review the performance of various affiliated bodies. Entities that are deemed redundant or inefficient could either be restructured or completely shut down.

The committee is expected to submit its findings to the government soon. Once the report is finalized, recommendations will be put forward on how to handle these underperforming institutions. Sources indicate that the focus is on optimizing resources and improving overall productivity within the ministry.

The government’s decision comes as part of a broader effort to enhance Pakistan’s science and technology landscape, ensuring that the country keeps pace with global advancements.

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Celebrating Dr. Nadeem ul Haque – A Legacy of Vision, Innovation, and Mentorship

on 16/10/2024

Islamabad – October 11, 2024 – The Pakistan Institute of Development Economics (PIDE) proudly celebrates the remarkable contributions of Dr. Nadeem ul Haque, as he concludes a transformative five-year tenure as Vice Chancellor (2019–2024). A distinguished economist and former Deputy Chairman of Pakistan’s Planning Commission, Dr. Haque has also had a prestigious career with several global institutions, including the International Monetary Fund (IMF). His visionary leadership at PIDE has reshaped the institute into a beacon of innovative thinking, pioneering research, and impactful policy discussions.

Throughout his time at PIDE, Dr. Haque tackled Pakistan’s economic and developmental challenges with fresh, forward-thinking ideas, encouraging intellectual independence and creativity. Among his many accomplishments, he spearheaded initiatives such as RASTA, Islaah, and EconFest, forging strong connections between researchers, policymakers, and thought leaders. These initiatives helped position PIDE as a leading think tank in Pakistan. The institute’s staff have expressed deep gratitude for Dr. Haque’s bold vision and tireless efforts, crediting PIDE’s current prominence to his dynamic leadership.

Dr. Haque’s legacy extends beyond administrative leadership; he was a mentor who inspired individuals across PIDE, fostering a culture of open dialogue and collaboration. He broadened PIDE’s global reach by connecting the institute with international thought leaders and introducing fresh perspectives on economic and developmental issues. His steadfast commitment to market-oriented reforms and urban development innovation has laid the groundwork for a brighter, more inclusive future for Pakistan.

Minister of Planning, Ahsan Iqbal, also paid tribute to Dr. Haque’s lasting impact, recognizing his pivotal role in advancing economic discourse and shaping Pakistan’s developmental trajectory. In addition to celebrating his achievements, Ahsan Iqbal urged the PIDE team to carry forward Dr. Haque’s vision, stating that the best tribute to his service is to continue his mission for the betterment of the institution and the country.

Dr. Haque’s lasting contribution lies in his role as a mentor who nurtured talent, promoted collaboration, and fostered an environment where innovation thrived. His influence will continue to guide PIDE long after his tenure, as the institute builds upon the solid foundation he created.

As Dr. Haque embarks on the next chapter of his career, the entire PIDE community extends its deepest gratitude for his exceptional service. His legacy of visionary leadership, mentorship, and innovation will continue to inspire future generations of researchers, scholars, and policymakers.

Dr. Nadeem ul Haque leaves behind an institution that is stronger, more dynamic, and well-prepared to lead Pakistan’s economic transformation. His vision will remain a guiding force for PIDE as it moves forward on the path he set in motion.

Driving Backwards: PIDE Unveils Essential Book on Pakistan’s Auto Industry

on 16/10/2024
  • The prevalent “On Money” culture compels consumers to pay black-market premiums due to limited vehicle availability, costing them an estimated PKR 30 – 34 billion annually.
  • Transitioning to electric vehicles (EVs) not only promises to lower Pakistan’s fuel import expenses but also addresses the country’s deteriorating air quality, asserts VC PIDE.

Islamabad, October 10, 2024 – The Pakistan Institute of Development Economics (PIDE) launched its eagerly awaited book, “Driving Backwards: What is Wrong with Pakistan’s Automobile Industry?” at a gathering held at the National University of Modern Languages (NUML) in Islamabad. This publication offers an in-depth examination of Pakistan’s underperforming automobile sector and outlines a roadmap for its revitalization and transition into the future.

Dr. Usman Qadir, Senior Research Economist at PIDE, presented the book’s key findings and discussed the persistent challenges confronting the industry. He highlighted the necessity for Pakistan to abandon protectionist policies and instead focus on integrating its automobile sector into global value chains to enhance competitiveness and foster innovation.

The current state of Pakistan’s automobile industry mirrors the challenges it faced decades ago, characterized by poor-quality, overpriced, and technologically outdated vehicles produced in low volumes. To stimulate growth in a sector that has seen little advancement over the last fifty years, PIDE suggests imposing higher taxes on automobile manufacturers that do not meet export targets. This approach would incentivize companies to explore global markets.

In his keynote address, Dr. Nadeem Ul Haque, Vice Chancellor of PIDE, emphasized that transitioning to electric vehicles (EVs) could significantly reduce Pakistan’s fuel import bills while improving the country’s worsening air quality. He also pointed out that research and development (R&D) is the backbone of the global automobile industry but is severely lacking in Pakistan. He encouraged students to aspire to leadership roles in the global market through innovation, entrepreneurship, and research.

“Driving Backwards” is the culmination of over three years of extensive research and consultations with industry stakeholders at PIDE. The book underscores the considerable potential of Pakistan’s automobile sector, which has been hampered by excessive regulation, insufficient competition, and an overemphasis on localization that has not produced the intended outcomes. The 1987 Localization Policy (Deletion Program) aimed to reduce imports of car components by promoting local production but primarily focused on low-tech components, failing to achieve meaningful technology transfer or skill enhancement. Additionally, the transition to a Tariff Based System (TBS) for protecting locally produced components has constrained the growth of the automobile and parts manufacturing industry, leaving it disconnected from global value chains.

The publication also addresses the significant issue of the “On Money” culture, which compels consumers to pay black-market premiums due to limited vehicle availability, costing them an estimated PKR 30 – 34 billion annually, according to PIDE research. The book stresses that these inefficiencies stem from flawed policies and underscores the need for reforms aimed at enhancing consumer welfare and providing access to affordable, high-quality vehicles.

Furthermore, the book includes three chapters dedicated to Pakistan’s transition to electric vehicles. While the shift to EVs is crucial for both economic and environmental reasons, several challenges must be addressed before large-scale adoption can occur. PIDE asserts that the government should provide equal opportunities for the sale of EVs in Pakistan, allowing consumers to choose their preferred vehicles.

Dr. Manoor Ahmed, Pakistan’s former ambassador to the WTO, commended PIDE’s research on reforming the automobile industry during the book launch. He described “Driving Backwards” as a timely resource for policymakers navigating recent economic challenges and the conditionalities of the IMF program. He further emphasized the need to enhance resource allocation efficiency in the country to fully harness the manufacturing sector’s economic potential, which requires a comprehensive shift and modernization of Pakistan’s policy approach.

The event concluded with an engaging Q&A session, where attendees inquired about the future of Pakistan’s automobile industry, particularly concerning electric vehicle adoption and the global shift toward sustainable mobility. The authors reiterated that although Pakistan is lagging in EV adoption, the country has a unique opportunity to leap into the future by embracing forward-looking policies that foster innovation and sustainability.

PIDE urges industry leaders, policymakers, and entrepreneurs to reevaluate the current trajectory of the automobile sector. The book’s recommendations advocate for a transition to electric vehicles, fostering competitiveness through joint ventures, and integrating the industry into global value chains—essential steps for realizing the long-term potential of Pakistan’s auto industry.

Pakistan Petroleum Limited (PPL) Commences Oil and Gas Production in Punjab, Marking a Major Advancement in Domestic Energy Exploration.

on 16/10/2024

Pakistan Petroleum Limited (PPL) Commences Oil and Gas Production in Punjab, Marking a Major Advancement in Domestic Energy Exploration

Pakistan Petroleum Limited (PPL), one of the country’s leading state-owned energy enterprises, has achieved a significant breakthrough by initiating commercial oil and gas production from a newly discovered field in Punjab. This development signals an important stride in the nation’s ongoing efforts to enhance indigenous energy exploration and production capacities, with the goal of strengthening energy security and reducing dependence on imported fuels.

In an official announcement, PPL confirmed that extraction operations have begun at the newly tapped field, contributing to the national energy grid through the supply of both crude oil and natural gas. The commencement of production from this field is a noteworthy accomplishment for the company, particularly in light of the increasing energy demands in Pakistan, driven by rapid industrialization, urbanization, and population growth. The successful operationalization of this field is expected to play a pivotal role in addressing the country’s persistent energy shortfall.

The production from this new field is anticipated to make a considerable impact by increasing the domestic output of hydrocarbons, thus helping to mitigate the need for costly energy imports. By bolstering the national energy mix, PPL’s latest endeavor is aligned with the government’s broader vision of achieving energy self-sufficiency and long-term sustainability.

As Pakistan continues to navigate the complex dynamics of energy production and consumption, this milestone underscores PPL’s enduring commitment to expanding its exploration and production footprint. The company remains steadfast in its mission to identify and develop new reserves, harnessing the country’s untapped hydrocarbon potential. In the future, PPL plans to pursue further exploratory initiatives and technological advancements to maximize the efficiency and yield of its operations.

With this latest development, Pakistan Petroleum Limited has reaffirmed its leadership position in the domestic energy sector, contributing not only to the economic growth of the country but also to its strategic goal of reducing external reliance on energy imports. This is an important step forward in ensuring a more secure, sustainable, and self-reliant energy future for Pakistan.