Biography of Abdul Razak Dawood: Advisor for Commerce , Textile , Industry & Production, Investment in Pakistan
Biography of Abdul Razak Dawood:
Abdul Razak Dawood has played significant roles in Pakistan's industrial and political landscapes. Initially serving as the Adviser for Commerce and Investment under Prime Minister Imran Khan, he also held the position of Federal Minister of Commerce, Industries & Production during the years 1999 to 2002 in Pervez Musharraf's cabinet.
Entrepreneurship and Business Influence
Dawood is renowned as the founder of Descon, a prominent
industrial conglomerate in Pakistan. His active involvement in the Karachi
Chamber of Commerce and Industry underscores his influence in the country's
business community.
Educational Background and Family Legacy
Abdul Razak Dawood's academic journey began with schooling
in the UK, followed by a degree in mining engineering from Newcastle University.
He furthered his education by earning a master's degree in business
administration (MBA) from Columbia University in 1968. Notably, he is the
nephew of Seth Ahmed Dawood, a distinguished industrialist who made significant
contributions to Pakistan's industrial sector.
Early Career and Entrepreneurship
Dawood's career began in 1968 at Lawrencepur Woolen and
Textile Mills, a family business where he gained initial experience. Later, he
transitioned to Dawood Hercules Chemical Limited and served as managing
director from 1973 to 1981. During this period, he laid the foundation for his
future ventures in the industrial sector.
Biography of Abdul Razak Dawood: Advisor for Commerce , Textile , Industry & Production, Investment in Pakistan
Establishment of Descon Engineering
In 1977, Dawood founded Descon Engineering (Pvt.) Limited,
marking the beginning of his entrepreneurial journey. By 1981, after a decision
to separate from his family's business, he took on roles as managing director
and CEO, eventually becoming chairman. Under his leadership, Descon grew into a
prominent Pakistani multinational. The company expanded into engineering,
construction, chemicals, and power, operating across several countries with a
diverse workforce of over 30,000 employees from more than 30 nationalities.
Transformation of DESCON under Abdul Razak Dawood
Abdul Razak Dawood's journey with DESCON is a remarkable
tale of growth and innovation. Starting as a modest startup in 1977 with just
four engineers, DESCON has evolved into a global engineering powerhouse
headquartered in Pakistan. Today, the company boasts a workforce of over 40,000
employees, including more than 1600 engineers and professionals. With a
diversified portfolio spanning engineering, chemicals, and power sectors,
DESCON handles an impressive 0.9 million manhours per year in engineering
capacity and 72 million manhours per year in construction capacity.
Abdul Razak Dawood's Leadership and Vision
Abdul Razak Dawood's career is marked by a blend of
entrepreneurial spirit and strategic leadership. His journey began after
completing his education abroad, returning to Pakistan in 1968. He played
pivotal roles in various corporate giants and government bodies, including
serving as the Federal Minister for Commerce, Industries, and Production. His
vision extended beyond business into education and philanthropy, contributing
significantly to institutions like Lahore University of Management Sciences
(LUMS) and CARE Foundation.
Challenges and Triumphs at Lawrencepur and Dawood Hercules
At Lawrencepur and later at Dawood Hercules, Abdul Razak
Dawood faced diverse challenges. At Lawrencepur, despite initial setbacks, he
successfully launched the brand "Layla," proving his marketing
acumen. His tenure at Dawood Hercules saw him navigate cultural clashes and
operational challenges, ultimately gaining faith in Pakistani engineering
prowess after a critical machinery repair incident.
Founding and Early Days of DESCON
In 1981, Abdul Razak Dawood co-founded DESCON Engineering with
a small team and limited resources. The early years were marked by perseverance
and strategic decisions, such as focusing on long-term growth and expanding
globally. Despite initial setbacks and the departure of key personnel, DESCON
solidified its position as a leading player in the engineering sector,
undertaking major projects both locally and internationally.
Leadership and Contributions
Dawood's influence extended beyond Descon. He served as a
director of the State Bank of Pakistan and played pivotal roles as chairman of
Rousch (Pakistan) Power Limited and the Pakistan Business Council. His leadership
in these positions contributed significantly to the economic policies and business
landscape of Pakistan.
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Lessons in Entrepreneurship and Long-term Strategy
Abdul Razak Dawood emphasizes the importance of dreaming big
and adopting a long-term strategy in entrepreneurship. He believes that
sustainable success requires looking beyond short-term gains and aiming for
enduring impacts. His philosophy underscores the need for continuous innovation
and commitment to excellence in business practices.
Legacy and Future Aspirations
Abdul Razak Dawood's legacy extends beyond business success
to building lasting institutions and contributing to societal development. His
goal is to inspire future generations of entrepreneurs and leaders who
prioritize ethical business practices and community welfare. His journey
exemplifies resilience, vision, and a steadfast commitment to creating enduring
value.
Abdul Razak Dawood Advocates for Trade with India and
Russian Investments
Adviser to the Prime Minister on Commerce, Textile, Industry
and Production, and Investment, Abdul Razak Dawood, emphasized the urgency and
mutual benefits of resuming trade with India. Speaking at an exhibition
organized by the Trade Development Authority of Pakistan, Dawood stated that
trade with India holds significant advantages, particularly for Pakistan, and
voiced his support for its immediate reopening.
Regarding investments, Dawood highlighted Russia's interest
in Pakistan's construction industry and the prospect of laying pipelines. He
underscored the potential for collaboration in these sectors, noting Russia's
keenness to explore opportunities in Pakistan.
Expanding Exports and Addressing Economic Challenges
Dawood also addressed Pakistan's export strategy, aiming for
textile exports to reach Rs21 billion by the end of FY 2021-22, with a target
of Rs27 billion for the following year. He stressed the need for diversifying
exports beyond traditional markets like Europe, North America, and China,
suggesting that engineering and healthcare products could bolster Pakistan's
export portfolio.
Acknowledging the challenges posed by inflation, Dawood
attributed these to the rising costs of imported commodities such as oil, raw
materials, and machinery. He affirmed the government's commitment to mitigating
these impacts while steering Pakistan's economy towards sustainable growth.
Commitment to Education and Philanthropy
Abdul Razak Dawood's commitment to education spans several
decades, starting with his role as a visiting faculty member at the University
of Punjab from 1975 to 1981. He played a pivotal role in the founding of the
Lahore University of Management Sciences (LUMS) in the early 1980s and has
served as its rector since its inception. Currently, Dawood remains actively
involved as a member of the university's board of trustees, contributing to its
growth and development.
Support for Healthcare and Social Welfare
Dawood's philanthropic efforts extend beyond education. He
served as a trustee for the Shaukat Khanum Memorial Hospital during its initial
ten years, highlighting his dedication to healthcare initiatives in Pakistan.
Alongside his wife, he established the Bilquis and Abdul Razak Dawood (BARD)
Foundation in Lahore. This foundation aims to empower less fortunate
individuals by providing them with opportunities to fulfill their potential,
reflecting Dawood's commitment to social welfare and community development.
