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Pakistan Leadership Conversation 2018

Jahanzeb BuranaCEO, Punjab Board of Investment & Trade

Forming collective vision for an Emerging Pakistan

Sartaj AzizDeputy Chairman Planning Commission

Gross domestic product (GDP) next five years average

ACCA members pledged to collaborate with private and public sectors to drive social and economic growth for an Emerging Pakistan

Ease of doing business ranking

Global competitiveness index(GCI)

7 50 50%plus

in top in top

Ayla Majid FCCACouncil Member, ACCA

Muhammad ZubairGovernor Sindh

Rana Muhammad Afzal KhanMinister of State for Finance and Economic Affairs

Malik Muhammad Rafique RajwanaGovernor Punjab

Naeem ZamindarMinister of State & Chairman, Board of Investment

Riaz RiazuddinDeputy Governor, State Bank of Pakistan

Dr. Amjad SaqibFounder, Akhuwat Foundation

Lindsay TaylorMarketing Manager – Brand, ACCA

Bruno OlierhoekPresident, OICCI & CEO, Nestlé Pakistan Limited

Muhammad Azfar AhsanCEO, Nutshell Forum

Tarek HamdyCEO, Eighteen

Jehan AraPresident, P@SHA

Hassan Daud ButtProject Director, Ministry of Planning and Development

Yusuf HussainCEO, Ignite (National Technology Fund)

Fatima Asad-SaidRegional Director, Abacus Consulting

Aamir NiaziCEO, HRSG Recruiting

Hasnain SheikhChairman and CEO, Inov8 Limited Pakistan

Aqueela MumtazHead of Corporate Accounting, Risk & Tax, JAZZ

Faisal MushtaqCEO, TMUC

Khawaja Tanveer SaleemChief Information Officer, Engro Corporation Limited

Muhammad Saleem Ahmad RanjhaExecutive Director General, BoI

Syed Muhammad Shabbar ZaidiChairman, A. F. Ferguson & Co.

Monis RahmanChairman, CEO & Founder, Naseeb Networks Inc.

Zouhair KhaliqEVP, Finance and Regulatory Affairs, Eighteen

Nasim BegChief Executive Officer, Arif Habib Limited

Clara ZamarroStrategy & development, ACCA

From Left: Assad Hameed, Shehryar Hydri, Parvez Abbasi, Tariq Rashid, Naeem Zamindar, Aqueela Mumtaz, Sajjeed Aslam

From Left: Syed Muhammad Shabbar Zaidi, Sajjeed Aslam, Shazad Dada, Naved Hashmi, Khawaja Tanveer Saleem, Ibrahim Kasumbi

From left: Khurram Shahid, Zeeshan Shahid, Sajjeed Aslam, Nasim Beg, Dr. Inayat Hussain, Muzzammil Aslam, Shehzad Chamdia, Shaikh Salman

From left: Haroon A. Jan, Afrasiab Ahsan, Syed Jaffar Shirazi, Jehanzeb Amin, Nadeem A. Malik, Ayla Majid, Sajjeed Aslam

From left: Fatima Asad-Said, Ayla Majid FCCA, Hassan Daud Butt, Omer Zaheer Meer, Sajjeed Aslam, Hasaan Khawar

From left: Zeshan Afzal, Sajjad Syed, Syed Saiful Islam, Sajjeed Aslam, Ayla Majid, Tughral A T Ali, Bruno Olierhoek, Johnson Gill

ACCA (the Association of Chartered Certified Accountants) is the world’s most forward-thinking global body of professional accountants, supporting its 200,000 members and 486,000 students in 178 countries, helping them to develop successful careers in accounting and business. ACCA has a network of 101 offices and centres and more than 7,291 approved employers worldwide. ACCA regulates its members and over 10,000 ACCA practicing firms across the globe through

the ACCA Rule Book.

ACCA organised the 2nd edition of Pakistan Leadership Conversation (PLC) with six events in Islamabad, Karachi and Lahore on 20, 21,22 and 27 March 2018. PLC is a forum for thought leaders to sit together and explore forward thinking policy choices. The theme was “Collective Vision for an Emerging Pakistan” and it featured over 40 local and foreign conversation leaders to deliberate and propose

policy recommendations based on ACCA’s global research and professional insights. These conversations were also webcasted across the globe and had active participation from over 15 countries. The conferences were followed by Corporate Dinners and New Member Ceremonies where ACCA members and prize winning students.

The deliberations of conversation leaders were based on the following themes

• CPEC - Belt and Road Initiative - are we ready to ride the wave of growth?

• Embracing digital age, financial inclusion and ethics: How to respond?

• Capital markets eco system: Redefining value creation models?

• Innovation and risk management: How to support the startup culture?

• The Race for Relevance - social, mobile, cloud & AI - talent needs

Innovation and access to capital Growth of businesses across all sectors is critical, be it large scale manufacturing or SMEs and startups – Innovation is the only way to stay relevant to local and global markets and customer expectations. Current financial market, access to bank credit and governance structure of family owned businesses require overhauling to expand the access to capital from seed capital to growth capital

Recommended Actions - Create awareness of central bank’s recent reforms to support SMEs, SECP’s private equity related initiatives and its implementation, expansion of retail base for participation in PSX, succession of family owned business and knowledge sharing forums including ‘Startup eco-system’ to support innovation.

Digital enablementPakistan has got the “Youth of Pakistan” as a key natural resource. With the right talent and technology, Pakistan is poised to access the global market for customers, products and services.Policies enabling digital economy, technology deployment and talent would be key drivers for social & financial inclusion, access to education & health care, economic participation of women and attracting local and foreign investment.

Recommended Actions – Propose 3 – 5 policy & legislative changes for implementation or development of Intellectual Property Rights, data protection regulations, e-commerce and free participation of private sector to enhance access to education and health care.

Tax and Foreign Exchange Regulation Reforms According to the Global Competitiveness Report 2017-18, taxation policy and tax collecting agency’s mindset, preceded by corruption, is the second biggest impediment to ease of doing business and global competitiveness rankings of Pakistan. In recent past, many tangible measures have been taken for curbing corruption but taxation system requires more trust-driven and transparent policy and its collection. Procedural reforms in foreign direct investment coming into Pakistan are necessary for global participation in Pakistan’s economy.

Recommended Actions – Propose 3- 5 key reforms, build advocacy and influence for implementation of critical changes in legislation and capability set

Key actions proposed at the PLC 2018 to be delivered through collaboration, advocacy and leadership of professionals, policy makers and businesses:

CPEC Pakistan’s business community should be more pro-active in identifying the opportunities offered by CPEC and the five other corridors envisioned under the Belt and Road Initiative and they independently or in collaboration with Chinese or other foreign investors start seizing these opportunities.

Recommended Actions – engagement of policy makers, academia and businesses to realign their priorities, strategies and public policies

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