Jacqueline Novogratz is the founder and CEO of Acumen Fund, a non-profit global venture fund that uses entrepreneurial approaches to solve the problems of global poverty. Acumen Fund invests patient capital to identify, strengthen and scale business models that effectively serve the poor and champions this approach as an effective complement to traditional aid. Jacqueline takes the TEDxKarachi stage to talk about Patient Capital Investing in Pakistan.
Jacqueline Novogratz – Investing in Patient Capital
That is right the only approach which is allowed when it comes to health care of a common man is a entrepreneurial approach. The health care should be and must be a non profitable or least profitable job other wise it would ultimately end up in cartels of fraudulent,cruel and money lover insurance companies forming the dark nexus with the pharmaceutical companies like we see in USA.
This is an ideal approach to give health care facility to common man on non profitable basis
Money is always favorite lover of entrepreneur and business men.All industrialists who run health care products are typical business men and always look for 200 to 300% profit margins.
I know three hospitals of lahore One is Ittifaq hospital model town(BELONG TO SHARIF FAMILY), zainab memorial garden town and masood hospital.All imported their hospital equipment mostly from UAE and SAUDI funding on the name of setting charitable /nonprofit hospitals.This was all happened when Afghan war was inaction in our north side.
So they imported tax free charitable machinery and set private ventures where poor are now treated on negligible basis.
In Pakistan we are even far away from reality so thinking of such an ideal situation is out of range.
We are badly loosing standard of our health care facilities as compare to what our grandparents received during British rule in urban areas of Pakistan .
The christian and , holy family hospitals during partition time had provided extra ordinary services to locals of subcontinent and now our elders cant think of going to even big govt hospitals.
It was not difficult to built a basic HEALTH UNIT within after 20 to 30 km with the help of private health care industries/telecoms industries/petroleum groups .
All those industries are considered as ever green industires in marking profit and hardly faced any kind of shortcoming in last 20 years.In return govt can waive off their tax .
But again this idea has been flopped through my personal experience as during swat war time I tried to convince some financial experts of few companies to settle such setup which could have continue its services for locals after departure of IDPs.
These companies have huge budget for donations but it was shocking for me that they preferred to send it to CM or PM fund.
When I asked them the reason of sending such unreasonable side which had no guarantee to reach to victims but people working in their departments told me that they all have personal gains through such kind of company funding.The manager of one company got hut in northern area from Hoti after directing companies million rupees aide toward his account.
I have given you few examples that why BHU policy is failed in our corrupt system.