LONDON: One of the world’s leading development economists called for a radical reframing of global development at Oxford, unveiling plans for a Human Potential Fund for Pakistan that will be a long-term national initiative to identify and nurture talent at scale.
The call was made by Harvard University Professor Asim Ijaz Khwaja as the Oxford Pakistan Programme (OPP) held Fourth Annual Iqbal Lecture, unveiling a vision for a Human Potential Fund for Pakistan.
The OPP hosted the Fourth Annual Allama Iqbal Lecture at Lady Margaret Hall, drawing a packed hall of Oxford University students, scholars, and OPP donors, with many more joining via live broadcast from universities across Pakistan. The lecture, one of the only Iqbal lectures instituted at a global university, was established with the support of the Dadabhoy Foundation, and has quickly become a recognised fixture in Oxford’s academic calendar.
The evening’s speaker, Professor Khwaja, delivered a compelling address titled Reimagining Development: From Poverty to Human Potential. He argued that traditional development models, mostly designed in the post-war era, are increasingly ill-equipped for a world shaped by political uncertainty, shrinking aid budgets, and rapid technological transformation.
“We often think poverty is the problem, but the real loss is that unexploited potential of individuals”, he remarked.
Drawing inspiration from Allama Iqbal’s philosophy of khudi, Professor Khwaja emphasised that every individual possesses an inherent gift that society too often fails to cultivate. He described how obstacles in education systems, labour markets, institutions, and access to opportunity prevent people from learning, innovating, and contributing fully. He urged policymakers to place people at the centre of development thinking, and announced his intention to work toward establishing a Human Potential Fund for Pakistan, aimed at enabling the country to discover and develop talent on a transformative scale.
Following the lecture, a panel discussion featured UNDP Administrator Achim Steiner, former FCDO Chief Economists Professors Stefan Dercon and Adnan Khan, chaired by Professor Adeel Malik.
Panellists examined how institutional structures and state capacity shape the realisation of human potential. Questions from the audience touched on implementation challenges, extreme poverty, data reliability, environmental pressures, and the role of the state. In response, Professor Khwaja stressed the need for empowerment and systemic reform to move in tandem. “Lasting change requires systems that lift people up and citizens who expect more from those systems. Development happens when individuals believe their actions matter,” he said.
Reflecting on the significance of the evening, Abdulghani Dadabhoy of the Dadabhoy Foundation expressed joy at the rapid growth of the lecture series: “In just four years, the Annual Iqbal Lecture has become part of Oxford University’s regular academic calendar. We are proud to support a platform that brings Iqbal’s ideas into contemporary global conversation.”
