Javed Iqbal36:07
Absolutely, not a well-kept secret. But it gives me an opportunity to talk about a major transformation which we are going through as a global level, including PTC. Just to be very clear, I totally understand the risks and health risks a consumer carries when they smoke a traditional product.
Previously we didn't have innovation — if you look at our old products, in 100 years there were two innovations: a filter was added, or a capsule for flavouring. Now the science has developed so much that we have options to offer consumers — if they want to consume nicotine, in a much less risky way. There's still risk, but much less risk than traditional products.
In Pakistan, we were the first one to launch nicotine pouches with low risk. We have a big ambition — corporately, there are 1.1 billion smokers in the world, and we want to move those smokers to less risky products. We have all three products: vaping, heated products, and modern oral nicotine pouches.
And it's not something which happens in the developed world only — in Pakistan, we are on that journey too. We are going through a lot of transformation where actually we need help for things like GBS, because now I want to inform you as a consumer on your digital platforms — this is the risk profile of what you're doing, and you can actually still have nicotine on a much lower risk profile.
So actually, we need more digital capabilities, we need more data and consumer interaction capabilities to make sure we can move those 1.1 billion global users to this less risky product. So actually, this is not a conflict — this is the biggest enabler. GBS will be one of the biggest enablers in BAT's transformation to a better tomorrow.
And this is the first time in the past five years — it puts a spring in my feet that I have an opportunity to change this company. Right now, you might be confused about jobs and services and needing more talent. But maybe five years down the line, ten years down the line — is the plan that if we truly have an IT city, an IT park built, all these buildings beside us also become yours? Is the plan to move out of BAT? And if other multinational companies need services, digital marketing, data analytics — are you going to say no?
I think that's one thing I have learned in my life — never say never. You never know what will happen. When we came to Jhelum, we didn't know what life would bring. If any other multinational or local group wants to do this, we will be happy to partner, to share our learning, to help them set it up. Because I want this to mushroom. Even if that means I lose some of my good talent, but we will create a sector in Pakistan which doesn't exist.
The business solutions sector doesn't exist in Pakistan, and this is a hundred billion dollar opportunity. How do we look at this in terms of helping the Pakistan economy? Our labour — it may seem like a small thing, but I keep watching reels where people are away from their parents celebrating Eid. There's no need for that. You can work in Japan, Canada, the US, and in the evening go have butter chicken and fish fry in Lahore.
At an individual level, it will also grow. And if it grows, there will be a significant inflow of foreign revenue for the economy — because that's a big game changer. You don't have to send raw material out of the country, you don't have to set up supply chains, you don't have to ship anything. Your talent here will generate revenue through services in hard currency.
Just visualize it — if 100, 200 thousand such centers open, that would change the game for Pakistan. Dr. Umer came on the podcast and said the services industry is what will save Pakistan. Manufacturing and those ideas are old now. Are you also a believer in that philosophy?