Page 13 - ITL Oct-Dec, 2020

Building Back Better: Social and Economic Sustainability for Resilience
In the midst of this year’s COVID-19 crisis, International Musadaq spoke as part of the Panel entitled “Building Back
Trade Center (ITC) held a two-day virtual Good Trade Better: Social and Economic Sustainability for Resilience.” He
Summit Oct 7-8, 2020, to spotlight sustainability and echoed other panellists’ call for collective efforts, stating, “let’s
inclusiveness as key elements in accelerating and sustaining share our prosperity”. He stressed upon regulation and the
the economic recovery. The Summit showcased different importance of providing social safety nets for workers and
examples, best practices and solutions of how “Good Trade” producers. He also emphasized on the role of consumers in
creates positive and inclusive economic, environmental and pushing for responsible production. Musadaq highlighted that
social impact. Moreover, it provided a platform for over 1000 the problem lies with some shareholders’ approach to “profits
participants from around the globe, including hundreds of above all”, which is why Interloop Limited tries to lead in a
SME owners to network, learn and, share. different direction. The panel fostered productive discussions on
how to promote social and economic sustainability in different
The event, opened by ITC’s new Executive Director Pamela spheres, including the textile and agricultural sectors.
Coke Hamilton, featured more than thirty distinguished
speakers from over twenty countries, including Amina J.
Mohammed, Deputy Secretary General of the United Nations,
Inger Andersen, UNEP Executive Director, H.E. Ellen Johnson
Sirleaf, former President of Liberia and Nobel Laureate, as
well as Dr. Bertrand Piccard, Explorer and Chairman of the
Solar Impulse Foundation and Musadaq Zulqarnain, Chairman
Interloop Limited.

Inspiring Stories for Budding Entrepreneurs – TiE Global Summit 2020

TiE Global Summit (TGS) 2020; a virtual conference of world The last talk of the session was by Musadaq Zulqarnain,
leaders, entrepreneurs, investors & mentors held from Dec Chairman Interloop Limited who narrated the success story of
8-10, 2020 unleashed a wave of positive optimism across the Interloop; starting in 1992 with around $360,000 and 10
entrepreneurial community, globally. This year, TGS was knitting machines and growing into one of the world’s largest
hosted by the Hyderabad Chapter, India, and attended by Hosiery manufacturers and a full-family clothing company
Global Industry Leaders, Entrepreneurs, Thought Leaders, manufacturing Socks, Denim, Knitwear and Seamless Active
Policy Makers and TiE Members from Global Chapters. wear Apparel. Dedicated to innovation and manufacturing
excellence, and a pioneer in environmental consciousness
During a one-hour online session ‘Inspiring stories for and social change, Interloop is the largest listed textile
Budding Entrepreneurs,’ three top business leaders of company on Pakistan Stock Exchange, by market
Pakistan shared their entrepreneurial journey for coaching capitalization. Musadaq also mentioned about Interloop
new entrepreneurs. Syed Baber Ali, Entrepreneur Holdings; an associated company with diversified business
Extraordinaire & Visionary and Founder TiE Lahore talked interests including Dairy Milk Production, Dairy Products,
about his passion for education which started when he went Logistics, Packaging, Healthcare and Digital.
to study at the Harvard School of Business. He founded the
Lahore University of Management Sciences (LUMS) in Musadaq highlighted Interloop’s pursuit for Building a
Pakistan which is now ranked among the top educational Sustainable World by transforming lives, improving
institutions of Pakistan. He spoke about the National well-being and building a diverse and empowered workforce
Outreach Program at LUMS which extends the benefits of through multiple People, Planet and Prosperity focused
world-class education to the talented less-privileged students initiatives. Towards the end, he talked about Interloop’s
who require full financial assistance. Of the 1200 NOP sustainability strategy that delivers shared value for all
students inducted at LUMS to-date, 600 graduates are stakeholders, guided by the company’s Mission, ‘ to be an
pursuing their dreams nationally and internationally, and agent of positive change for the stakeholders and community
supporting their families and communities. by pursuing an ethical and sustainable business.’
Dr. Amjad Saqib, Founder and CEO, Akhuwat Foundation; a
donation-based micro-finance institution, talked about
Akhuwat’s journey which began in 2001 when a woman
approached him for a loan of PKR 10,000. She bought a
sewing machine from that loan and started producing finished
garments and was soon able to not only repay her loan but
donate to help other struggling women in her area. This
experience gave Dr. Saqib the idea of an interest-free
microloan and thereby Akhuwat was born. He acknowledged
Akhuwat's positive impact on the society that has earned
immense appreciation across the world and said that success
lies in the process of borrowers becoming donors.

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