Pakistan German Business Forum organized a seminar on “Economic Crises in Pakistan & its Solution” on Thursday, 22nd January, 2009 at the attractive Auditorium of Goethe Institute, Karachi.
Dr. Shahid Hasan Siddiqui, Chairman, Research Institute of Islamic Banking & Finance, and a prominent economist had graced the occasion, as guest speaker.
The seminar was well attended by the members - Board of Directors, especially, Mr. Nadeem Ali Kazmi, Mr. Zunnoor Ahmed, Mr. Sultan Rehman, Mr. Khawaja Jahanzeb, Dr. Islam Hamid, past President, Mr. Razak H. M. Bengali, Founder President, Mr. S. K. Pervez and especially the Vice Counsel of German Consulate, Mrs. G. Haider, members of Pakistani and German Companies and many other dignitaries.
In his opening remarks, Mr. Salahud Din Ahmed, President / CEO - PGBF, briefed about the purpose of the seminar that is to provide maximum benefit to our members, who are very anxious to know about the present and future market situation.
Mr. Ahmed stated that PGBF is striving to serve its members, using all the available resources to pass on maximum benefits through the cooperation of its Patron in Chief as well as the Patron,
This seminar is one of its series of monthly events, as decided by the Board of Directors earlier, he added. Mr. Ahmed stated that PGBF is very keen to arrange at least one meaningful function on every month, for which he emphasized the need of cooperation of all members.
President PGBF elaborated his future steps to be taken for the benefit of members i.e.
• New large office with parking facilities
• More frequent visits of members at PGBF office for their needs
• Library and reading facility
• President and other Directors available almost daily
• Uptodate information on web
• Monthly News bulletin
• Help Desk to facilitate our members with solutions to their problems
• Team of experts on PGBF penal to guide our members in terms of their difficulties to do business with Germany
President thanked all the participants, who took time to attend this important seminar and made the seminar successful as well PGBF as vibrant organization.
Then Dr. Shahid Hasan Siddiqui, highlighted unorthodox views on what has been happening to the national economy during the last few years. What is more important is that he has continued forewarning the mangers of economic affairs about the future state of things he foresaw. His warnings unfortunately went unheeded and his apprehensions became a reality in due course of time.
His opening remarks are eye-opening: “The Government, SBP and even IMF are of the opinion that economic crisis that erupted in Pakistan in 2008 was due to significant deterioration in macro-economic indicators in FY -08 and initial months of FY -09. The fact, however, is that the economy of Pakistan has been under serious pressure for over last four years and, in any case, was heading for a crises even if prices of oil and food items had not gone up in the international market in the first half FY-08”.
He concluded that Pakistan should do away with the foreign crutches, reduce dependence on US aid in the shortest possible time and should, before the end of FY – 09, come out of IMF programme by not availing the remaining installments.
After the presentation, there was an interesting question/answer session by the audience to the speaker.
The seminar ended with a vote of thanks by one of Forum’s BoD member, Mr. Sultan Rehman, and then the memento has been presented the Guest of honour, Dr. Siddiqui, by the President and Board Members and at the end, the splendid Hi-Tea served at the downstairs.

The picture was taken at the time of recent Board of Directors' meeting of PGBF, in which the Honorary Investment Counsellor of Pakistan to Germany participated as a special invitee.