Page 13 - CMA Journal (May-June 2025)

EXCLUSIVE INTERVIEW
Exclusive Interview

“
Both domestic and foreign

investors depend on predictable

policies to make long-term

decisions. Sudden reversals of

incentive schemes—such as those

in the auto or textile

sectors—undermine trust and

discourage investment. It also

distorts market competition “

Mr. Muhammad Ali Tabba

Chief Executive Officer, Lucky Cement Limited

ICMA: From your experience, what are the biggest policies create uncertainty, especially for long-term
challenges businesses face in staying sustainable in planning. Access to finance is also limited—credit is
Pakistan today? expensive, particularly for SMEs, while venture capital
remains underdeveloped.
Muhammad Ali Tabba: From my experience, businesses
in Pakistan face a mix of structural and macroeconomic Infrastructure gaps, including poor roads, congested
challenges that seriously impact long-term sustainability. ports, and weak rail networks, increase operational costs.
Meanwhile, a widening talent gap—due to outdated
Economic instability is a major issue, with high duties on
training and brain drain—limits workforce readiness.
raw materials, elevated taxes, and costly utilities making
investment planning difficult. Energy costs worsen the Environmental pressures are rising, but high costs and
situation, as high tariffs and unreliable supply drive up lack of incentives make it challenging for businesses to
production expenses and reduce competitiveness. adopt sustainable practices, despite growing scrutiny on
emissions and resource use.
Policy inconsistency and regulatory unpredictability

discourage investment. Frequent shifts in tax and trade

ICMA’s Chartered Management Accountant, May-June 2025 11