Muhammad Iqbal Ghori, FCMA
The Council of Institute of Cost and Management Accountants of Pakistan in its 341st
meeting held on 5th June, 2016 elected Mr. Muhammed Iqbal Ghori as the President.
Mr. Ghori is a fellow member of the Institute and elected to the Council for the
period of 2015-17. Prior to this, he was serving in the capacity of Vice President,
Chairman of Examination and Research & Publications Committees member of few
other committees. He is also serving as Chairman SAFA Committee on Governmental
and Public Sector Enterprises Accounting.
With 25 years of versatile experience across diverse organizational domains in the
public and private sector, Mr. Ghori has significant exposure in the business planning,
financial modeling, performance monitoring, commercialization of electric utility,
management accounting and budgeting, development of tariff methodology, regulatory
affairs, bringing awareness about energy conservation, and launching an energy conservation
campaign which brought visible results and mobilized the positive public opinion.
Mr. Ghori started power sector career as Manager Finance (Corporate Planning and
Control) at Faisalabad Electricity Supply Company Limited [FESCO]. During his 12
years services in the power sector, he held positions of Director General Corporate
Finance at Pakistan Electric Power Co. [PEPCO] and Director General Corporate Finance
and then Chief Financial Officer [CFO] of Faisalabad Electricity Supply Company
Limited [FESCO]. Mr. Ghori's substantial contribution in development and execution
of Performance Contracts has transformed the FESCO accountability culture. He led
the team to divert state owned power sector to Public Limited Companies and adopted
IFRS. The career path in the power sector gave him recognition at various platforms
especially in the areas of Tariff, Regulatory Affairs, Financial Management and
Corporate Planning and Control.
Due to comprehensive understanding of power sector, Mr. Ghori also served as ‘official
spokesperson’ for PEPCO and participated in talk shows specially in connection to
power crisis whereby he presented both government's views and his own stance as
how to make power sector efficient and to overcome burning load shedding issue.
The interaction with print and electronic media at national and international level
enhanced Mr. Ghori expertise with respect to public concerns related to power management.
Mr. Ghori was also entrusted with the responsibility to bring all stakeholders on
board for nationwide campaign on electricity conversation. Initially, it was limited
to PEPCO but eventually Government of Pakistan (GoP) also launched a mega energy
conservation campaign in which Mr. Ghori's proposal for the electricity conservation
served as nucleus for Government's strategy and policy
The technical experience provided Mr. Ghori opportunity to closely work with World
Bank, ADB, USAID, National Electric and Power Regulatory Authority (NEPRA), Ministry
of Water & Power, WAPDA, PEPCO and other stakeholder of power sector in Pakistan.
Mr. Ghori attended the Public Utility Regulatory Course (PURC), of University of
Florida USA (PURC) being held with the collaboration of World Bank. The course enhanced
the economic, technical, and policy skills required for implementing policies and
managing sustainable regulatory systems for infrastructure sectors.
Being a distinguished holder of a profession certification and said exposure, Mr.
Ghori emerged as change catalyst for (i) engaging Board of Directors to cultivate
board room's best practices and corporate governance to safeguard the interest of
all stakeholders; (ii) setting standards both for public and private sectors; (iii)
performing technical accounting analysis; (iv) developing systems; (v) writing systems
and procedures; (vi) planning human resources and (vii) devising mechanism for effective
Mr. Ghori provides assistance on the IPSASB's strategy, work program and agenda;
on its projects, including key technical issues or matters that may impede the effective
implementation of IPSASs; and on other matters of relevance to its standards-setting
activities. Mr. Ghori's interest to contribute towards high-quality international
public sector accounting standards and the quality, consistency, and transparency
of public sector financial reporting in Asia and worldwide made him keen to become
an integral part of global efforts including IFAC's IPSASB.
Through Mr. Ghori's embedded interpersonal and management skills, the overall learning
and experience have been shared with professionals, intellectuals and policy makers
by way of articles and participation in nationwide and international seminars and
conferences where he presented various papers on power and energy sector.
Currently, Mr. Ghori is working as Chief Financial Officer and Director Strategic
Planning at one of the leading textile manufacturers and exporters of the country,
M/s Sadaqat Pvt. Ltd.