International conference held on risks faced by business sector
Business
Honest communication among businesspeople can reduce risks
LAHORE (Dunya News) - An international conference on emerging risks and problems associated with the business sector was held in Lahore on Tuesday.
Engro Group Chairman Hussain Dawood stated: “If people in business speak the truth to each other, risks can be significantly reduced.”
‘The Emerging Risks Conference (ERC 2024)’ was organised by Marsh and the Centre for Enterprise Risk Management at a private hotel in Lahore.
Experts and professionals from health, electricity, energy and technology sectors participated.
Engro Group Chairman Hussain Dawood emphasised that honest communication among businesspeople could greatly reduce risks.
Atlas Honda CEO Saquib Shirazi pointed out that inflation rose due to the dollars shortage and increase in the current account deficit. He advised the current government to be patient with growth rates, as increasing inflation by printing money or raising interest rates beyond a certain level could lead to additional debt burdens.
“If the interest rate drops from 22pc to 12pc, the debt burden will start decreasing,” he said.
Group Director of Punjab Group, Mohammad Ben, said it was heartening that foreign companies such as Marsh were re-entering Pakistan. It showed the potential of Pakistani companies, he said.
He emphasised the importance of risk management for these companies.
In his speech, Marsh Group head Alexander Moczarski noted that this event provided an opportunity to discuss emerging global market challenges and tools to mitigate risks.
He lauded the quality of participants and speakers at the conference and expressed his excitement about the potential relationship with Pakistan.
The conference included three key panel discussions, along with presentations on various risks faced by diversified business sectors.
