The path towards success and failure is almost exactly the same. Only those people are successful in the world who have the spirit and courage to move forward, are honest and hardworking. Imran Lateef is one of them, who in a very short period of time has proved himself a successful businessman. At present he is working as the CEO of Texlynx and running it tremendously. We inquired him about Texlynx and its success story which is as follows.
BRIDGE TEAM: Tell us about your early life and start of Texlynx?
Imran Lateef: I started my professional life with a job and worked in various companies for 10 years. In 1998, I started my own business with the name of Texlynx after gaining experience. It is a buying house which works with a number of brands from all over the world. It includes world renowned brands such as Michael Kors, Hugo Boss, Calvin Klein, Lor Ashley. Majority of the products of these brands are made in Pakistan. We provide complete solutions to our clients. We provide complete solutions to our clients. In addition, if someone wants to buy a company or product we provide our services to him/her including human resource facilities.
BRIDGE TEAM: What problems did you face at the time of starting your business?
Imran Lateef: When you are alone and new in the field you have to prove yourself and face a lot of problems as well. When I started my work I made three promises to myself. First, no one should be more hardworking than myself around me. Second, no one should be more trustworthy than me and thirdly, I wanted to add so much value in my work that people will be convinced to work with me. I worked for 18 to 20 hours per day, traveled 200 days per year, visited two countries in a day, met people and created a name for myself and for my company. I may not have earned so much money but I have created a name and respect for myself. Today, when textile companies require jobs or work they come to me.
BRIDGE TEAM: What are your views about the current economic policies of the government?
Imran Lateef: I am not clear about the economic policies of the current government but I am sure about two things. Firstly, the intentions of the new government are good but its capacity and capability to handle it is doubtful. You can overcome capacity and capability with a good teamwork. The team is not compatible so far but the intentions of the leader are pure and eventually government will be successful. I am not satisfied with the current economic team of the government. Asad Umer should be heading the post of Razzaq Daud and Ministry of Finance should be run by either Shouqat Tareen, Dr. Irshad or Ishrat Hussain. Razzaq Daud should only play the role of an advisory.
BRIDGE TEAM: What would be the effects of CPEC on our region?
Imran Lateef: Through CPEC, where China and other countries will be benefiting from this route, Pakistan will ultimately be benefiting as well. But it would have been better if local contracts had been given to local companies instead of Chinese.
BRIDGE TEAM: Should other neighboring countries such as India and Afghanistan be included in the CPEC project?
Imran Lateef: My mentor Mian Mansha said to me once, “I am in the business of making money. Do what you have to do to make money”. So, if you ask me I would say that Pakistan should do everything that will be beneficial for her. If we have to move forward and make progress then we should work with any country whether it’s India or Afghanistan. If not then we shouldn’t.
BRIDGE TEAM: What would be the effect of increase in Dollar’s price on the local import and export?
Imran Lateef: There would be a benefit in the export to some extent; however, the cost of import will increase. You can enjoy the benefit only when you produce raw material locally. Until and unless common people of Pakistan follow the motto: BE PAKISTANI, BUY PAKISTANI we cannot progress and develop. I, myself consume Pakistan made products and suggest others as well to use Pakistani products.
BRIDGE TEAM:What is your opinion on the upcoming mini budget and what are you views on imposition of new taxes?
Imran Lateef: I think that the mini budget and finance bill sheds light on the good will of the government. We were not well aware before of our exploitation by the previous governments. Now our direction is clear and we know what we have to do. The government needs to expand its tax net and include people with lavish lifestyles in it. Mostly media persons, lawyers and doctors take money in cash and escape taxes. Authorities should go after such high profile people and take strict measures against those who do not pay their taxes them.
BRIDGE TEAM: Any advice for to the new entrepreneurs?
Imran Lateef: Hard work and commitment is the hallmark of success. One should do what he is good at and have knowledge about it. Along with that I always tell youngsters to first gain experience by working in a service sector, trading and then invest in any business. If you are in service sector, make vendors your priority. I tell people how to buy a product at low price, how to use it and how to take maximum benefits from it.
BRIDGE TEAM: Do you think you are a successful businessman?
Imran Lateef: Yes, I do consider myself as a successful businessman. I started from scratch. I gained education from government institutions and today I hire people from LUMS, LSE and even from foreign universities. I have received more respect than I deserve.
BRIDGE TEAM: What do you further want to do in your life?
Imran Lateef: I want to do two things in life. First, in order to thank God I want to serve my religion. Second, I want to live in close to nature. I want to control my eatables by producing the vegetables and fruits myself. I want to have a farm house where my friends and family can come and have a good time and enjoy hygienic and healthy food.