Finance Ministry, ACCA Pledge Cooperation on IT Services Growth and SME Financing
The finance minister and ACCA's global director met in Islamabad to plan joint action on IT sector expansion, digital upskilling, accrual accounting and improving SME access to finance.
A timely collaboration between Pakistan’s finance ministry and the Association of Chartered Certified Accountants (ACCA) aims to accelerate the country’s digital services capacity and improve smaller businesses’ access to finance. The meeting in Islamabad on Sep 10 brought together Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb and Ms. Lucia Real-Martin, ACCA’s Global Executive Director, along with senior ACCA Pakistan leadership.
Policy priorities and capacity building
Officials focused on aligning institutional capacity building with Pakistan’s broader economic reform agenda to foster private-sector-led growth and macroeconomic stability. A central theme was strengthening human resources so the domestic workforce can take on higher-value roles within the information technology and IT-enabled services (ITeS) sector.
The finance minister highlighted the sector’s potential and called for upgraded digital infrastructure, including high-speed 5G connectivity, plus targeted upskilling and reskilling in areas such as artificial intelligence and blockchain. He also said talent export and domestic retention should be treated as complementary strategies to ensure a steady pipeline of skilled professionals for both local and international markets.
ACCA briefed the government on its global programmes and its work with Pakistani public institutions to modernize public financial management. The body underlined support for digitalizing fiscal frameworks and assisting departments in transitioning from cash-based to accrual-based accounting to improve transparency and tax administration.
Improving the bankability of small and medium-sized enterprises was another key topic. To help SMEs afford professional financial management, ACCA proposed deploying fractional CFO services so smaller firms can access senior financial expertise on a shared, cost-effective basis to tighten documentation and cash-flow visibility.
The meeting concluded with both sides reaffirming long-term cooperation to support economic transformation, professional capacity building, and strengthening the financial readiness of Pakistani enterprises.