Giving Back to Pakistan – A Case Study of Two Overseas Professionals

It’s true that annual remittances by overseas Pakistanis are vital for the economy; we better now also focus on how to capitalize on their intellectual and experiential capital. Professional overseas Pakistanis excel through research and development, implementation of innovation and working in leading organizations; therefore, there are better chances they could substantially improve corporate governance, utilization of human resource and its skill development, and revenue generation. The following case study of two overseas Pakistanis would explain how they trialed innovative business plans on several industries and succeeded.

Shafiq Akbar, a real estate entrepreneur who achieved numerous accomplishments in real estate brokerage in London and Italy based Farhan Javed – a digital media expert – decided to relocate to Pakistan and play a part in national prosperity through reviving certain industries.

After intensive planning, they decided to venture into real estate sector which is a 700 billion industry and the second largest employer of Pakistan after agriculture. They founded Graana Group of Companies with a vision to increase the industry’s tax to GDP contribution which is merely 2 percent; engage young talent from different fields; promote buying and selling awareness, and most importantly, create space for the highly skilled human resource, which couldn’t find a platform to relate their expertise with.

Graana Group of Companies owns rainforest-themed Amazon Malls and Hotels; Agency 21 – a leading real estate agency; Graana.com – a real estate property portal (yet to be launched); Graana Artec – architecture; Hadid Builders and Developers – construction and development; Graana – software development; Brando Marketing – digital marketing and PR consulting; and Graanic Farms – organic foods.

To restructure real estate as a preferred investment source for overseas investments, it was necessary to broaden its scope through innovative and viable business plans and practices. In doing so, the two entrepreneurs faced various challenges; largely due to lack of skilled human resource, unfavorable investment policies, doing business complexities, tackling with the law and order situation, and corruption.

Their business plans for all the companies initially seemed unrealistic to their competitors who termed it ambitious and short-lived. But just in two years span, they achieved various milestones; including over 300 employees, 7 offices, business of nearly two billion worth and five mega projects in Rawalpindi and Islamabad.

Graana Group of Companies adopted multiple strategies to achieve its goals: first, for the very first time in Pakistan, they introduced 100 percent refund policy in their projects; similarly, extremely flexible investment options with a good monthly yield and value appreciation were offered in the posh areas of the twin cities; second, they prepared rigorously trained work forces which appealed to members from every social class; third, they valued clients’ trust and confidence and not profit margins; fourth, they developed in house capabilities ranging from project conception to implementation and from marketing  to sale; fifth, reward system, which even included world tours for promising employees, and lastly, they brought in advanced technology to the design and promotion of their projects, which attracted wide spread audience.

The use of untraditional corporate practices was an absolute success which yielded results even amid temporarily receding public interest in real estate sector last year. The resolve of the two overseas professionals erected an empire which is rapidly growing. While sharing their experiences on the state television, the two expressed that since Pakistani market welcomes innovation, it could be a potential hub for foreign investment. Similarly, there is a huge scope for venture capital investment to boost SMEs; however, effective entrepreneurship programs must be launched to prepare a qualified business force.

The two entrepreneurs then resorted to mobilize and convince other overseas Pakistanis for investing financial and intellectual capital in Pakistan. However, owing to numerous hurdles the diaspora faces in Pakistan, it was imperative to address their issues at the first stage. Therefore, they established a self-funded trust namely Association of Overseas Pakistanis whose sole objective is to facilitate the diaspora in Rawalpindi and Islamabad during their visit or relocation. The trust has entered into strategic partnerships with 22 different sectors ranging from health and education and shopping to food to procure discounted and conveniently available services for the non-resident Pakistanis. These services could be availed through exclusive membership cards which the Association provides free of cost to the diaspora.

Graana Group also actively supports CSR initiatives which include child mortality programs, education initiatives in underprivileged regions and financial support to orphanages and old homes. Considerable share of the company’s income is allocated to such activities which are planned both independently as well as in collaboration with public and private institutions. To expand the program on a national level, the two overseas professionals are putting efforts to align their community services with SDGs through establishing a policy institute. This think tank will research all socio-economic and politico-educational challenges and opportunities and furnish recommendations on how to ensure prosperous Pakistani society, where overseas Pakistanis have a major role to play.

This case study establishes a conception that if only two overseas Pakistanis could make an exceptional change through devotion and innovation, the over 10 million diaspora can push our national prosperity to new heights. At the same time, it dispels this perception that Pakistan has not yet reached to a level where overseas investors could pursue investment prospects.