Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held discussions with Association of Chartered Certified Accountants Global Executive Director Lucia Real-Martin on strengthening Pakistan’s economic reform agenda, developing professional skills and supporting private-sector growth. The meeting took place at the Finance Division and focused on areas including private-sector development, export-led growth, macroeconomic stability, professional talent development and stronger cooperation between the government and the Association of Chartered Certified Accountants.
The meeting was attended by Association of Chartered Certified Accountants Pakistan Head Assad Hameed Khan and Public Affairs Lead Pakistan Asad Malik Mahmood. During the discussions, both sides explored opportunities for closer cooperation on institutional and economic reforms. Senator Muhammad Aurangzeb highlighted the potential of Pakistan’s information technology and information technology-enabled services sector and stressed that stronger digital connectivity, including 5G, would be important for supporting growth in emerging industries. He also called for targeted upskilling and reskilling programmes in fields such as artificial intelligence and blockchain.
The finance minister said Pakistan needs to move towards higher-value services and expand shared service centres so that Pakistani professionals can compete more effectively in international markets while generating greater economic value domestically. He said talent export and talent retention should be pursued together, supported by a strong domestic pipeline of skilled professionals who can serve both local companies and international businesses. The minister also emphasised the need to develop capabilities that can help professionals and shared service centres transition from transactional activities towards more specialised, knowledge-intensive functions.
Lucia Real-Martin briefed the finance minister on the Association of Chartered Certified Accountants’ global initiatives related to professional development and talent development and reaffirmed the organisation’s support for Pakistan’s skills and economic priorities. She highlighted the opportunity to strengthen Pakistan’s shared services ecosystem by making greater use of the country’s available talent through focused skills development, professional training and institutional cooperation. The discussions also covered the Association of Chartered Certified Accountants’ engagement with the government on public financial management, including capacity building, management reporting and the transition from cash-based accounting towards accrual accounting.
The Association of Chartered Certified Accountants also expressed its willingness to assist public-sector institutions in strengthening their operating models, people, processes and technology. Particular attention was given to digitalisation, transparency and tax administration. The cooperation could support institutions in improving internal capabilities and adopting more effective systems for managing financial information and public-sector operations. The discussions reflected a broader focus on building institutional capacity alongside wider economic reforms and private-sector development.
Small and medium-sized enterprises were another major area discussed during the meeting. Senator Muhammad Aurangzeb emphasised the importance of capacity building and improved access to finance for smaller businesses, while stressing that companies need to become more bankable to obtain commercial financing. He highlighted better financial management, proper documentation and improved cash-flow visibility as important factors that can strengthen the ability of small and medium-sized enterprises to engage with financial institutions and secure funding at affordable rates.
Lucia Real-Martin outlined the Association of Chartered Certified Accountants’ initiatives for small and medium-sized enterprises, covering professional upskilling, policy and research, access to finance and sustainability practices. She also highlighted the potential role of fractional Chief Financial Officer services, which could give smaller businesses access to professional financial expertise without requiring them to maintain a full-time finance department. Senator Muhammad Aurangzeb welcomed greater cooperation in this area, noting that improving SME financing requires more than increasing the availability of funds and also depends on businesses having the financial capabilities and preparedness needed to effectively use those resources.
Both sides reaffirmed their commitment to strengthening cooperation in professional talent development, small and medium-sized enterprise development, economic transformation and private-sector-led growth. The discussions placed skills development, digital capabilities, institutional reform and improved business readiness at the centre of efforts to support Pakistan’s economic transformation. The government and the Association of Chartered Certified Accountants also recognised the importance of developing a stronger professional talent base that can support domestic businesses while enabling Pakistani professionals and service providers to participate more effectively in international markets.
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