KARACHI, Nov 8: Setting up of a new centre for entrepreneurial excellence at the Institute of Business Administration (IBA) will help train young managers in the latest management techniques.

These views were expressed by the speakers at a dinner in Karachi on Sunday. They included Managing Director MIT Entrepreneurship Centre, USA, Kenneth P. Morse; Dr. Peter Bearse of JE Austin & Ass, USA; IBA Director Danishmand, Mr. Mark, a representative of United States Agency for International Development (USAID); Ambassador Shahid Kamal, and Salahuddin Haider of 21st Century Business and Economics Club.

Speaking on the occasion IBA Director Danishmand expressed the hope that the centre will be functional by the end of next year. He said it would provide top class educational and other services to the Pakistani entrepreneurs, particularly the youth. He said women managers were often successful in the businesses, so they should be encouraged.

Mr. Kenneth P. Morse in his short presentation said that in many countries such type of centres of excellence were producing young managers. He presented case studies of the UK, the UAE and Denmark.

He hoped that in Pakistan a lot of companies would take benefit from IBA’s centre in future.

Dr. Peter Bears said that the idea of establishing a centre of excellence at IBA was materialised on the occasion of the visit of US President George Bush to Pakistan in March this year.

He said this would be an excellent example of joint partnership between USA and Pakistan.

Mr. Mark of USAID said the centre will have a significant impact on Pakistan’s economy. Today Pakistan is feeling the urgent need for people who can operate outside the framework of the well-established organisations. Pakistan requires a large number of businesses born of new ideas at the grassroots level.