Page 53 - CMA Journal (Mar-Apr 2026)

reform for the last 15 years yet cannot collect enough cooling the environment, drinking water, industrial use and
revenues to meet expenses, despite numerous claimed ood control.
achievements. Similarly, public sector development projects
A campaign against nepotism must be initiated at the
have always remained far behind schedule and the delays in
government level to save public institutions from disasters,
completion have caused huge cost overruns. Bhasha Dam
avoid colossal nancial losses and curb corruption.
and Karachi Bulk Water Supply K-4 projects are just to cite
terribly delayed projects bringing about colossal losses to Oil and power sectors were mostly responsible for the
the public exchequer besides huge collateral damages. present crises. Therefore, maximum use of alternate sources
of energy is the only answer to achieving early resilience and
State-owned enterprises are yet another example of poor
the path to development.
nancial performance with massive continued losses over a
long period where two hundred such units made an Time is money, and most Public Sector Projects are
aggregate loss of Rs. 830 billion (2025). responsible for delays in completion, resulting in huge cost
overruns. Delays in decision-making not only cause nancial
All this speaks vividly about the apparent indifferent
burden but also breed corruption.
disposition of those at the helm of affairs where resilience
and adaptation were never objectives. The negative The government must change its role from regulator to
environment caused by the current war would further facilitator.
aggravate the economic performance of the public sector if
diplomatic accomplishments are not translated into scal
“ Let uncertainty
discipline and judicious use of public funds.
Only Actions Matter

The war has to end. If not today, then tomorrow de nitely. It
is bound to happen. What is Pakistan's course of action?
What is the plan? Is Pakistan going to work for loans only? No
doubt Pakistan's diplomacy has been successful and into certainty!
appreciated around the world. How is Pakistan going to
capitalize on this favourable situation beyond seeking aid
be turned “
and loans, as Pakistan already has more than enough loans?
The situation demands quick actions.
About the Author: Syed Shamim Ahmed is a senior Chartered
It is time for actions and making bold decisions by setting Management Accountant having Fellow membership of ICMA. He
priorities right with a proactive approach and xing the roof retired as General Manager Finance from the Karachi Port Trust
while the sun is shining. With high poverty level, the top (KPT) where he served for around 22 years in different positions. He
was also a member of the Karachi Dock Labour Board for 7 years.
priority must be food security and effective and sustainable
After doing his MBA from IBA Karachi, he started his initial career
water management for improving the agriculture sector, with Citibank and then served in Awami Autos (now Pak Suzuki).

ICMA’s Chartered Management Accountant, Mar-Apr 2026 51