- Technology, agritech, energy infrastructure and urban development offer lucrative opportunities in large emerging market
- In the next five years, Pakistan’s diverse investment prospects in technology and infrastructure will reward informed, adaptive investors
Interview with Mr. Azeem Hussain Siddiqui – FCA, FCMA, FCIS
PAGE: Tell me something about yourself:
Azeem Hussain Siddiqui: I am a Fellow Member of the Institute of Cost & Management Accountants and the Institute of Chartered Accountants of Pakistan (ICAP). Currently, working as a Partner at Naveed Zafar Ashfaq Jaffery & Co. Chartered Accountants. Previously have served KPMG Taseer Hadi & Co. Chartered Accountants. Remained Chairman of the Karachi Branch Council of ICMA Pakistan from 2020 to 2023 and am now a member of its National Council. I am also the Honorary Treasurer of the Marie Adelaide Leprosy Centre (MALC), one of the largest international NGO in Pakistan.
I have served as member of various committees at ICMA Pakistan and ICAP. Have also been Guest Speaker and Lead Trainer at seminars/workshops on corporate, tax and other laws in Pakistan.
PAGE: How would you comment on investment opportunities in Pakistan?
Azeem Hussain Siddiqui: Investment opportunities in Pakistan hold significant promise, though they come with their own set of challenges and considerations. As one of the largest emerging markets, Pakistan boasts a young and expanding population, which fuels demand across various sectors such as consumer goods, technology, and services. The technology sector, particularly fintech and e-commerce, is experiencing rapid growth. Agriculture continues to be a foundational aspect of the economy, presenting opportunities in modern farming practices, agritech, and value-added processing. There is also a growing need for investment in energy infrastructure, especially in renewable sources like solar and wind, along with enhancements in energy efficiency.
Urbanisation is driving strong demand for residential, commercial, and mixed-use properties. Infrastructure investments, including in roads, ports, and railways, are essential for economic development and can provide substantial returns. However, the investment climate is subject to political and economic stability, and ongoing reforms aimed at improving the business environment and governance can contribute to a more favourable investment landscape.
PAGE: Which sectors of the economy are lucrative in terms of foreign and local investment?
Azeem Hussain Siddiqui: In Pakistan, various sectors offer attractive opportunities for both foreign and local investors due to their growth potential, market demand, and changing conditions. Key sectors such as technology, energy, agriculture, real estate, healthcare/pharmaceuticals, tourism, and education provide compelling prospects. Each sector has unique advantages, so investment decisions should align with strategic goals and risk tolerance.
PAGE: What is your take on taxation measures in Pakistan?
Azeem Hussain Siddiqui: Taxation in Pakistan is a complex and continually evolving field. The tax system has seen numerous reforms and changes over the years, with the goal of enhancing efficiency, boosting revenue, and minimising evasion. These taxation measures are a vital component of the economic landscape, impacting both businesses and individuals. Despite significant reforms aimed at improving the system, issues such as documentation, tax evasion, and complexity persist. For investors, keeping up-to-date with the latest tax policies and utilizing available incentives can aid in navigating the tax environment effectively. Additionally, working with local tax professionals and advisors can offer valuable insights and assistance in managing tax-related matters.
PAGE: What is your standpoint on investment opportunities five years down the line?
Azeem Hussain Siddiqui: Looking ahead five years, investment opportunities in Pakistan will likely be influenced by several key factors such as economic trends, technological progress, and government policies.
Here’s an outlook on potential opportunities and considerations:
In the coming five years, Pakistan is anticipated to offer diverse investment prospects across multiple sectors, propelled by advancements in technology, infrastructure demands, and shifting market dynamics. Investors who remain well-informed, adapt to emerging trends, and strategically position themselves in high-growth areas are expected to capitalise on the country’s evolving economic landscape.