June 20 - 26, 20

In his thought provoking address, Shahid Kardar, Governor State Bank of Pakistan has advised the people to reject the culture of connections, which remain potent factor for personal progress yet add plight for the less fortunate people of this country.

Shahid advised the students that for ensuring success they need to be determined to defy the social and economic factors that discourage or fail to facilitate development of entrepreneurial behavior.

'Never lose faith. Even if you have no connections, talent, energy as ability to work hard is the best cards that you will be holding even in this society in which we know connections are more potent factor for personal progress. For ensuring success you need to back it up with hunger coupled with a determination to defy the social and economic factors that discourage or fail to facilitate development of entrepreneurial behavior.'

Addressing the Convocation of Lahore University of Management Sciences (LUMS), the Governor advised the new generation of Pakistan to take risk, be an outlier and 'make your mark' in society. Those who have a fire in their belly and the urge and determination to pursue their dreams and take on the world rather than simply play safe would be the great achievers.

'However, whichever path you choose to traverse, remember, in this highly competitive age of specialization you can take up any profession and be a success, provided you are the best at it. There is always room at the top - at the bottom you get trampled over'.

The outliers change society and history, and often for the better. He told the audience 'Yes, not all of you can become outliers, but some of you will. It takes the strength of one's conviction to veer away from the beaten path and explore; and when you explore something new, you learn much more,' he added.

'Do not be daunted by risk or the fear of failure - it is better to have tried and failed than not to have tried at all. And do not become jaded like people of my generation - instead, be optimistic and challenge conventional thinking.' He noted that finance/capital was not a constraint. 'It is the limitations of our imagination and willingness to take a risk. Of course, you need a lucky break but a brilliant idea will invariably get one',

'It is a special breed of people that voluntarily takes risk. And let me be honest, I always have time for risk takers because I gain so much from engaging with them. It makes perfect sense, these people are outliers; their experience and mindset are very different from most of us.'

'Such a career will not be easy to launch as you may end up following many dead leads; you will have to do a lot of legwork, and there is no guaranteed reward; you will not have the luxury of going into the same office every morning, but will have to explore a new path every day. It might sound positively intimidating but this can be the difference between living a life that means something and living a life with nothing more than good means. It is the difference between walking down the road less traveled as opposed to a well trodden path; of taking risks over tip-toeing around life'.

The young graduates need to work hard to earn the respect of their peers and subordinates, especially in an increasingly competitive environment. 'It is hard work that can even turn failure into success. With sheer determination you can take on challenges, unfazed', he said, adding that there were no short cuts in life.

'Do what you enjoy, since most of your adult life will be spent working which may mean that you will end up with a job/career by sheer accident unless you look for it passionately -it is the same as in love.'

Life was about making choices involving tradeoffs without any guarantees of success. 'But there is nothing like making it in your own homeland - that is where you get a real kick. That is why even those who have done well across the seas yearn for recognition here. Exploit the spate of opportunities available to you if you look around'.

The society, which has suffered a lot, now attaches high hopes that the young graduates would remain in Pakistan to serve their country. 'This may not seem very exciting at this point, but once you get a better sense of the economic and political challenges facing the developed world in the next 18 months, Pakistan will end up looking really good'.


Today, the national economy is confronted with a multitude of issues adversely affecting the social, economic and political values, some of these issues include ever increasing poverty level, unemployment, energy crisis and power shortage across the country, high rate of inflation and drastic cut in purchasing power. The law and order situation is another major concern of the citizens from grass root to the elite of the society. All these issues stemmed from poor or bad governance or rampant corruption. However, the remedy of all these issues are also hidden in a single point agenda and that is quality education, which is the fundamental right of every citizen. And that agenda needs to be first priority of all the stakeholders and the political leadership which has so far made only promises but now is the time to deliver.

In order to materialize the thought provoking ideas and the vision of Shahid Kardar, we seriously need to change our mindset and learn trust our own people besides having an unshakeable faith in the opportunities available within the country. We have to learn to respect and trust our own people especially the young generation. We have to trust and delegate responsibilities to our young and educated youth instead of relying upon sycophants and cheats who have no shame to use fake degrees to get them elected in the house of legislators. Now is the time for the nation to come trust our young talents and help them to steer the nation out of troubled waters.