Searching about my university, NED University of Engineering & Technology, I came across an article which was about a candidate from NED who participated in the “Karo Mumkin” competition organized by a telecom company telenor. The concept of this program was to give creative ideas which can bring a change in the lives of the people. A large number of people participated in the competition and give creative ideas, which were later uploaded on the contest website, the top ten entries were displayed which were selected by the internet poll voting.
The winner was the contestant from NED Abdul Haq Mohiuddin, the concept defined in website as:
“Abdul Haq Mohiuddin, a graduate of NED university dreams to see an educated Pakistan. This prompted him to come up with idea of each graduating student of NED giving Rs. 100 to help an under privileged child in his education. Each graduating batch of NED and if replicated by other universities would be able to donate enough money to eradicate illiteracy from Pakistan.”
Every graduate from the university after getting job will donate Rs. 100 from his salary to a fund. At least 1600 engineers pass out from NED every year, the monthly donation of Rs. 100 from each will bring about Rs. 160,000 to the fund and this fund will be used in the education of children of underprivileged areas this will bring the literacy rate up. No wonder this was a great idea, that’s why it won the first prize, the winner was selected through internet polling.
You might come across my article on this topic, about the government giving funds to the people, but not giving them opportunity to earn, which is enhancing their begging skills, but not develop then as a creator/entrepreneur. Blending the Abdul Haque’s idea and the-don’t-give-them-fish idea; I have created a new idea described as follows:
What if the graduates will combine Rs. 100 each and will open a joint stock engineering firm, the initial investment will be then Rs. 160,000, the objective of the company is that it will be able to generate each person about at least Rs. 500 per month revenue in the future, some proportion of the revenue generated from the business can be invested back and can be used to generate more business, also the 1600 people can provide facility in some parts of the organization for its betterment in the production, sales, marketing, research and development, administration. This will create more job opportunities as well. Similarly if the same initiative can be done by the students of other universities, thus hundreds of new businesses can be started, which will bring more revenue to the country, more job opportunities, more business and prosperity. This might be a long term planning but will be equally helpful to overcome the economic crisis of Pakistan and increasing the per capita income.
More elaboration, the initial revenue of Rs. 500 is expected to increase approximately to 500 rupees each month, thus it will reach Rs. 10,000 in about 20 months (1.6 year). In about 20 months an investor will be making an income of 10,000 still growing each month by Rs.500. this is because the initial investment of Rs. 100 per share holder will not stop in the first month but the investor will be investing Rs.100 each month which means a total investment of about Rs. 160,000 every month to the business.
The investment revenues hypothetical graph for the first 20 months
If you have any suggestion, comments, clarification, if you just hate or love this idea, feel free to communicate. Thanks
Syed Owais Mukhtar