LUMS CONTRIBUNAL - Lahore University of Management Sciences

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16 LUMSContribunalA Word With Our DonorsMr. Osman Khalid WaheedPresident, Ferozsons Laboratories LIMITEDQ. Tell us something about yourself your educationand professional life?ans: I was born and raised in Rawalpindi and attended St.Mary’s Academy until my ‘O’ Levels. I then moved toLahore for completing my ‘A’ Levels from AitchisonCollege after which I proceeded to the US. I obtainedmy Bachelor’s degree in Economics from HarvardUniversity in 1993. Owing to my father’s demise, Ireturned to Pakistan after completing my Bachelor’sand did not pursue graduate studies as I would haveliked. I returned to join Ferozsons Laboratories Limited,a publicly listed pharmaceutical manufacturingcompany founded by our family in 1956. Ferozsonshas had the privilege of being the recipient of theKSE’s Top 25 Companies Award a total of 7 times,including the last 5 years consecutively. We havealso recently established, under joint venture withthe Bagó Group of Argentina, Pakistan’s first biotechpharmaceutical manufacturing facility. This new venture,BF Biosciences Limited, is located in Lahore andproduces biologics to treat cancer and Hepatitis C forthe first time in Pakistan. In our first year in operation,we have managed to reduce the cost of thesetreatments by over 50%, and have also commencedexports of biotech medicines to other countries.Q. Being a donor of LUMS, please share with uswhy, in your opinion, giving to the educationsector is important? What shaped your decisionto support LUMS?ans: Education is Pakistan’s single largest crisis and itsgreatest opportunity. As one of Pakistan’s finest academicinstitutions, LUMS has a clear vision for translatingthat opportunity into a reality. The single mostimportant reason for our company to support financialaid at LUMS is its merit-based, need-blind admissionpolicy.The School of Science and Engineering (SSE), in particular,has two elements that make it a truly transformationaleffort, especially in the context of Pakistan.First is a 100% need-blind admissions policy:the SSE admits the best applicants regardless ofsocioeconomic background, and provides them thenecessary financial aid to complete their education.Second, with its world class faculty, outstanding infrastructureand a strong commitment to research inthe natural and applied sciences, the SSE carries thepotential to drive technological innovation and playa significant role in the development of the country.Q. What do you think of the LUMS financial aidprogrammes and also the National OutreachProgramme? What are your expectations fromLUMS students receiving financial assistance?ans: The LUMS NOP is an excellent model for all academicinstitutions to follow. I have had the pleasure of meetingNOP students at the University, and have foundthem without exception to be bright, driven and highly
LUMSContribunal 17A Word With Our Donorstalented individuals who, without the support of theNOP, would not have been able benefit from a worldclasseducation. I have found them appreciative ofthe NOP and eager to use their talents to transformnot only their own lives and those of their families,but also to give back to LUMS and help expand thescale of the NOP for future students. This is exactlywhat I would expect of them as well – to give back toLUMS a portion of their success, so that others canalso benefit from the opportunities they were able toreceive while at LUMS.the education crisis alone, at least in the short term.The private sector, particularly the organised corporatesector, has to step in to make a difference. Allaltruism aside, even from a selfish perspective, thecorporate sector has a vested interest in trying to ensurethat the environment we have invested in andgenerate returns from, remains a viable one and thereis no better way to ensure this viability than by focusingour corporate social responsibility efforts towardseducation and helping to build a more productive,prosperous and peaceful Pakistan.Q. What do you think today’s youth should aspirefor in terms of personal and professionalgrowth?ans: Our youth should first and foremost aspire to be forward-looking,socially aware and contributing membersof Pakistan’s civil society. It is far too easy toblame poor governance for our ills, or to lament thelack of public spending on important issues like educationand health. Progressive societies build themselves,and in doing so, also hold their governmentsaccountable. My own role model is Syed Babar Ali,the founder of LUMS, who not only built a successfulbusiness but also used his resources to contributeto Pakistan’s progress in the fields of education andhealth.Q. What would be your message to youth, educationists,businessmen and professionals ofPakistan?ans: Education holds the key to solving virtually each ofthe daunting socioeconomic challenges facing Pakistan’syouth today: sustainable economic growth,greater employment, tolerance and social harmonyall become possible if we can ensure that our futuregenerations have access to affordable, quality education.It is the collective responsibility of each of us asPakistanis to make sure this happens.Q. Where do you see the future of education inPakistan? How, in your opinion, can the businesssector support educational growth in Pakistan?ans: To say that education in Pakistan is in a state of crisiswould be an understatement. At the primary levelalone, the numbers are daunting: an estimated 10%of the global population of children without access toprimary schooling lives in Pakistan. It is clear, givenour tax base, that even an efficient, well-functioninggovernment would not have the capacity to address
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