Interview with Mr. Muhammad Yasin, President ICMA
PAGE: Tell me something about yourself, please:
Muhammad Yasin: Serving the Institute of Cost and Management Accountants of Pakistan (ICMA) has been one of the most rewarding aspects of my professional journey. I currently have the privilege of serving as President of ICMA and Chairman of the Research & Publications Committee. I have also been privileged to serve in various leadership roles, including Member of the Strategic Board, Chairman of the Research & Publications Committee, National Council Member, and Chairman, Vice Chairman, and Secretary of the Lahore Branch Council. During this journey, some of the key initiatives I had the opportunity to lead or support include the digital archiving of the Institute’s Journal from 1961 onwards, the launch of the e-Archive, Research & Publications e-Portal, Future CMAs Students’ Magazine, and Authors’ Directory, introduction of knowledge platforms such as Economy Watch, Regulatory Watch, Sector Brief, and Top Tech Trends, organization of record CPD programmes and ERP trainings, establishment of the ICMAP Toastmasters Club, enhancement of corporate partnerships and curriculum development, digitization of financial processes, obtaining PCP accreditation, and strengthening the Institute’s visibility through industry collaboration and thought leadership initiatives. Collectively, these efforts have been aimed at modernizing the Institute, promoting professional excellence, and creating greater value for members, students, and other stakeholders.
Professionally, I have over 24 years of experience in finance, corporate governance, strategic planning, and business transformation. As Group Chief Financial Officer of The Superior Group, and previously as CFO of Pakistan GasPort Limited and Jamshoro Joint Venture Limited, I have been fortunate to contribute to major national projects, including Pakistan’s LNG infrastructure, large-scale project financing, and enterprise-wide digital transformation initiatives. Throughout my career, I have believed that a finance professional’s role extends beyond managing numbers. I remain committed to serving the profession by promoting research, mentoring future professionals, and contributing to the development of robust financial institutions that support Pakistan’s sustainable economic growth.
PAGE: With a coastline of over 1,000 km (Sindh and Balochistan), how could Pakistan ramp up its blue economy?
Muhammad Yasin: Pakistan has a coastline of about 1,046 km and a large Exclusive Economic Zone, yet we have largely viewed the sea as a source of fish and a route for cargo. The blue economy offers much more—fisheries, aquaculture, ports, shipping, tourism, ship recycling, offshore energy and marine services. The Annual Plan 2025-26 recognizes this potential; the priority now is implementation.
First, we must protect our marine resource base through effective control of overfishing, illegal fishing, vessel monitoring and regular stock assessments. Second, aquaculture and mariculture should be expanded, particularly in suitable areas of the Indus delta, to increase production without placing additional pressure on wild stocks.
Third, we need to strengthen the post-harvest value chain. Better landing facilities, cold storage, refrigerated transport and testing infrastructure can reduce losses, improve fishermen’s incomes and strengthen export potential.
Fourth, our ports should develop into broader logistics and industrial hubs, supporting ship repair, seafood processing, warehousing and marine services. Opportunities such as tourism, offshore energy and blue carbon can be developed progressively as capacity matures.
Finally, we need better data, financing and institutional coordination. Pakistan does not need another policy document as much as it needs an integrated implementation framework—with clear targets, defined responsibilities and accountability for results. The objective should be to convert our maritime potential into sustainable investment, employment, exports and economic value.
PAGE: Seafood is largely exported in raw or semi-processed forms from Pakistan. What is your perspective in this regard?
Muhammad Yasin: This is one of the clearest areas where Pakistan is leaving value on the table. Seafood exports reached about US$568 million in FY2025-26, according to the Ministry of Maritime Affairs. Yet we continue to export largely frozen, chilled or dried seafood, capturing relatively limited value compared with countries such as Vietnam, Thailand and India. The issue is not simply production; it is competitiveness across the value chain. Weak cold-chain infrastructure, limited internationally certified processing capacity, high energy costs, inadequate traceability and low investment in product development constrain our access to premium markets. Our strategy should therefore shift from exporting more seafood to exporting higher-value seafood. This means encouraging investment in modern processing and cold-chain facilities, expanding international certification, developing ready-to-cook and processed products, and strengthening traceability and sustainability standards.
Most importantly, we should change how we measure success. The objective should not be export volume alone, but higher value per tonne exported. That is where Pakistan can generate greater foreign exchange, create skilled employment and retain a larger share of the value within the domestic economy.
PAGE: Pakistan’s Blue Economy currently contributes around 1% to the national GDP. What is your take on it?
Muhammad Yasin: The blue economy has significant potential to become a stronger contributor to Pakistan’s growth, particularly given our coastline, major ports and extensive maritime zone. While estimates of its current contribution vary, this also highlights the need for a more comprehensive understanding of the economic activity taking place across fisheries, ports, shipping, tourism and other marine-related sectors. I see the blue economy as underdeveloped rather than limited in potential. The ambition to build a US$100 billion blue economy by 2047 is significant, but achieving it will require sustained investment, stronger institutional coordination, regulatory certainty and greater private-sector participation. The focus should therefore be on translating maritime resources into measurable economic value. A dedicated blue economy satellite account could provide a stronger basis for assessing its contribution to GDP, employment, exports and investment. At the same time, progress should be measured through indicators such as seafood value per tonne, processing capacity, aquaculture output, port efficiency, coastal employment and sustainability. Ultimately, the opportunity is not only to increase the size of the blue economy, but to ensure that its growth creates higher-value economic activity, greater employment and stronger livelihoods in Pakistan’s coastal communities.
PAGE: To protect environment, authorities must properly implement the Pakistan Environmental Protection Act, 1997 (PEPA) and penalize factories or vehicles that exceed toxic emission and liquid waste limits. How would you comment on it?
Muhammad Yasin: Pakistan’s environmental challenge is increasingly one of effective implementation, institutional capacity and economic incentives, rather than simply the absence of regulation. The country already has an established environmental framework; the priority is to make its implementation more consistent, measurable and effective.
Three areas are particularly important. First, provincial environmental agencies need stronger capacity and coordination, particularly following the devolution of environmental responsibilities after the 18th Amendment. Second, enforcement should become more data-driven, moving from periodic inspections towards continuous monitoring, digital reporting, accredited third-party testing and effective self-monitoring mechanisms.
Third, regulation should combine accountability with incentives for compliance. The polluter-pays principle should be supported by proportionate penalties for repeated or serious violations, while SMEs should have access to financing, technical assistance and shared treatment facilities where individual compliance costs are prohibitive.
This is ultimately an economic as well as an environmental priority. Cleaner production protects the coastal ecosystems that support fisheries and tourism, while stronger environmental standards increasingly influence access to international markets. Effective environmental governance can therefore strengthen Pakistan’s competitiveness while supporting the long-term sustainability of its blue economy.