Page 15 - CMA Journal (May-June 2025)

Exclusive Interview

renewable integration, competitive tariffs, and grid
reliability. The government can support this by offering
Sustainability must be built into targeted incentives such as tax breaks, duty exemptions,
and carbon credits for solar, wind, and WHR projects. A
policy. Incentives for ESG transparent wheeling and net metering framework is
also critical, enabling industries to trade surplus energy
compliance—such as carbon and attract private investment.

credits, green financing, and Public-private partnerships should be encouraged to
modernize energy infrastructure, backed by tools like
support for certifications—are viability gap funding. Additionally, expanding access to
green finance through blended instruments and
now essential for global concessional loans can accelerate clean energy
adoption. Finally, joint efforts on skill development in
competitiveness renewable technologies will be key to building
long-term industrial resilience and capacity.
ICMA: What strategies has Lucky Cement adopted to
Additionally, used cars contribute less in taxes compared remain competitive and sustainable during
to locally assembled vehicles, resulting in potential economic downturns?
revenue losses.
Muhammad Ali Tabba: Lucky Cement has adopted a
Many imported vehicles lack modern safety and five-pillar strategy to stay competitive and sustainable
emission standards, adding to environmental and road during economic downturns. We optimize energy costs
safety concerns. The practice also encourages informality through waste heat recovery, solar and wind power, and
through under-invoicing, misuse of import schemes, and alternative fuels like RDF—lowering both expenses and
weakened regulatory oversight. emissions. Geographic diversification, with operations in
Iraq and the DRC, reduces reliance on the domestic market.
ICMA: How have rising energy and raw material
costs influenced Lucky Cement’s long-term business
planning?

Muhammad Ali Tabba: At Lucky Cement, we have To ensure affordable energy and
adopted long-term strategies to manage rising energy
and raw material costs. We have invested in renewable promote sustainable industrial
energy, including a 34 MW solar plant at Pezu and a 28.8 growth, structured collaboration
MW wind project, which help reduce our energy
expenses. Our waste heat recovery systems also lower between the government and
electricity costs and support our sustainability goals.
private sector is essential—
To cut fuel expenses, we have diversified our energy mix
by using refuse-derived fuel, biomass, and tyre-derived ideally through platforms like the
fuel, reducing reliance on imported coal. Controlling our
port terminals and transport fleet further helps us Special Investment Facilitation
manage logistics costs effectively. In addition, strong
export operations, particularly in loose cement, allow us Council (SIFC)
to earn foreign exchange and balance local market
fluctuations.
Our loose cement export terminal in Karachi enhances
ICMA: In your opinion, how can the government and
flexibility and access to international markets. We also
private sector collaborate effectively to ensure
leverage digital tools for automation and predictive
affordable energy and promote sustainable
maintenance to improve efficiency. Lastly, group-level
industrial growth?
diversification across sectors like chemicals,
Muhammad Ali Tabba: To ensure affordable energy and pharmaceuticals, and automotive helps absorb market
promote sustainable industrial growth, structured shocks and ensures stable cash flows.
collaboration between the government and private The Editorial Board thanks Mr. Muhammad Ali Tabba, Chief
sector is essential—ideally through platforms like the Executive Officer, Lucky Cement Limited for sparing his precious
Special Investment Facilitation Council (SIFC). Long-term time to give exclusive interview for Chartered Management
energy planning should be co-developed, focusing on Accountant Journal.

ICMA’s Chartered Management Accountant, May-June 2025 13