AHSAN MEHANTI, Managing Director & CEO, Arif Habib Commodities, on leadership, CSR, and adaptability.

GLAM: With your extensive experience in Big4 firms (EY & PwC), can you share some insights on the most significant changes you’ve seen in the tax audit, accounting, and advisory landscape over the years?

AHSAN MEHANTI: Over the years, one of the most striking changes that I have witnessed is the increasing adoption of automation and technology. While this has improved trade volumes and efficiency, it has also rendered traditional audit methods less effective. The complexity of accounting processes has also increased, particularly in today’s uncertain business environment, where exceptions are more common. As a result, accounting practices may need to adapt to accommodate these changes, which can sometimes compromise shareholder value. In the advisory space, the scope of services has become more limited, while businesses themselves have become increasingly complex. This means that professionals must continually update their skills to effectively leverage new technologies and stay ahead of the curve. The rise of artificial intelligence (AI) is another significant development that holds immense potential for businesses.

GLAM: How do you leverage your expertise in finance, business management, and business restructuring to drive business growth and strategy for your clients?

AM: We conduct thorough research on portfolio management, global economic trends, client preferences, and business trends, providing our clients with actionable insights to inform their decision-making. We also utilize technical analysis to identify patterns and trends in the market, enabling our clients to make informed investment decisions. Our regular commentary on market position and sentiment helps clients stay ahead of the curve and adapt to changing market conditions. Additionally, our clients have access to comprehensive financial data, which provides them with valuable feedback on their investment performance, enabling them to refine their strategies and optimize their returns. With our research-driven approach, we empower our clients to drive business growth and achieve their strategic objectives.

GLAM: What are some of the most common challenges you’ve seen entrepreneurs or small business owners face, and how do you help them overcome them?

AM: One of the most common hurdles I have seen small business owners face is business growth and achieving their set goals and realising their vision or mission statements. To overcome this, I recommend regular monitoring of performance, both financially and non-financially. This enables businesses to identify areas of improvement and make data-driven decisions to drive progress. Moreover, many entrepreneurs struggle with navigating the complex regulatory landscape, which can be overwhelming and time-consuming. To address this, we help businesses develop effective strategies for dealing with regulatory bodies such as the Securities and Exchange Commission of Pakistan (SECP), Federal Board of Revenue (FBR), Pakistan Stock Exchange (PSX), and Pakistan Mercantile Exchange (PMEX) as well as the media. By doing so, we can improve client services, strengthen relationships with stakeholders, and ultimately enhance shareholder value.

Another crucial aspect is the incorporation of philanthropic initiatives into a business’s overall strategy. At Arif Habib Commodities, we have made a commitment to prioritise environmental sustainability and philanthropy as key non-financial targets. This not only contributes to a positive social impact but also promotes a sense of purpose and responsibility among employees, customers, and investors.

GLAM: Can you describe your experience serving on committees related to International Financial Reporting Standards, economic advisory, and public sector advisory?

AM: I have had the privilege of serving on various such committees and contributing towards their goals and performance. I have also worked on the economic advisory committees, where my focus had been on promoting business prosperity and performance in both the private and public sectors, on matters of taxation, corporate services, crisis management, and business restructuring. Through these engagements, I have gained valuable insights into the complex economic landscape and developed a deeper understanding of the challenges and opportunities faced by businesses and governments alike.

GLAM: What motivates you to continue serving as a trustee and business leader in various sectors, and what impact do you hope to make in these roles?

AM: I am driven by a strong sense of responsibility to ensure that our services are not only effective but also responsible. Our greatest motivation is to consistently deliver client satisfaction, and we achieve this by regularly conducting surveys to gauge their needs and expectations. This feedback enables us to innovate and improve our performance. Additionally, we continuously seek opportunities to re-engineer our business processes, embracing new ideas and technologies to enhance our operations and better serve our clients. Ultimately, the goal is to make a positive impact in the various sectors I serve, leaving a lasting legacy that reflects positively on our organization.

GLAM: How do you see the role of corporate social responsibility evolving in the coming years, and what advice would you give to businesses just starting to incorporate CSR into their strategies?

AM: CSR is integral to our business strategy, ensuring long-term continuity. We demonstrate our commitment through community service, consumer protection, stakeholder engagement, economic responsibility, and strong corporate governance. By integrating these initiatives, we create a positive impact on society and drive sustainable growth.

GLAM: Can you share some insights on how you’ve maintained your high level of performance and achievement over the years?

AM: In the face of economic challenges, we remain committed to continuous improvement, recognizing that adaptability and resilience are essential for success. To achieve our goals, we rely on teamwork, where individual contributions combine to deliver exceptional results. To ensure we stay on track, we regularly monitor our progress and set new targets, fostering a culture of accountability and driving us forward towards excellence.

GLAM: What advice would you give to younger professionals who aspire to achieve similar recognition and success in their careers?

AM: To achieve success, it is essential to set clear goals and monitor progress regularly. Also, it is crucial to remain self-driven and committed to ongoing learning, embracing new challenges and opportunities as they arise. This mindset of continuous learning and improvement will enable individuals to adapt to changing circumstances and stay ahead of the curve.

Pursuing education or career opportunities overseas can be a powerful way to accelerate personal and professional growth. Not only can international experiences provide access to new knowledge and skills, but they also offer the opportunity to develop valuable cultural competencies and global perspectives.

GLAM: How do you see your organisation evolving in the coming years?

AM: To drive growth and progression, we prioritise both organic and strategic acquisitions on the corporate side. We recognize the importance of continuous learning, as it is essential for personal and professional development. To achieve this, we continuously promote a culture of self-directed learning, encouraging individuals to set goals and monitor their progress. Furthermore, there is great emphasis on building a strong network, both locally and globally, as it provides access to new opportunities, knowledge, and resources.

GLAM: What is the most important lesson or piece of advice you’ve learned throughout your career so far?

AM: There is no substitute to hard work and dedication. Maintaining a healthy balance between work and personal life is also crucial for overall well-being and productivity. Thirdly, one must be a team player, as working collaboratively guarantees growth.

We all know having a hobby and passion in your life is essential for overall well-being and happiness. When you’re passionate about something, you’re more likely to feel energised, motivated, and fulfilled, whether its photography, playing videogames, crafting, practising yoga or meditation, cooking/baking or even travelling. A hobby or passion can instil in us a sense of purpose and direction, helping us stay focused and driven. Moreover, having a hobby or passion can bring people together, creating opportunities for social connection and community building. Research has even shown that people who engage in activities they love tend to experience higher levels of creativity, self-esteem, and overall satisfaction with life.

But what if you could turn your passion into a successful business? Imagine earning a living doing something you love, surrounded by like-minded people who share your enthusiasm. Sounds splendid doesn’t it! You will find many entrepreneurs in Pakistan and across the glove, who are doing it. They have turned their passions into thriving businesses. By identifying their passion’s strengths and weaknesses, researching and identifying market trends, and with sound business ideas, they have turned their passion into lucrative ventures; and so can you, whether it’s writing, art, music, or any other creative pursuit, the key to success lies in understanding your audience’s needs and desires.

But before you do that, it’s essential to understand the fundamental principles of entrepreneurship. One of the first steps is to identify your passion’s strengths and weaknesses. What skills and expertise can you offer and how will they be different from what is already being offered? What sets you apart from others in your field? Once you have a clear understanding of your strengths and weaknesses, you can begin researching market trends to determine whether there’s a demand for your product or service. This is crucial in validating your business idea and ensuring that it’s viable in the market. Adapt if you have to a little. Additionally, you’ll need to define your vision, mission, and objectives, as well as structure your business and eventually register it.

But as easy as it sounds, and can be an exciting and rewarding experience, turning a hobby into a business is not without its challenges. You’ll definitely face setbacks, rejections, and obstacles along the way. Just do not let that discourage you. It’s crucial not to give up on your dream. Setbacks and hurdles are an inevitable part of the journey, but it’s how you respond to them that truly matters. Instead, focus on staying adaptable and resilient, always looking for new opportunities to grow and improve. Hard work always pays off. Also, throughout the process, it is important not to forget that starting out any venture requires dedication, perseverance, and resilience. It’s not always easy, but with the right mind-set and support system, you can overcome any obstacle.

By staying focused on your goals and staying true to your passion, you’ll be well on your way to achieving success.

The Karachi Film Society (KFS) in collaboration with Habib University organised the Pakistan Media Summit 2024 – a ground-breaking gathering of policymakers, industry leaders and academia at Habib University.

The two day event discussed some of the most pressing topics faced by the media industry today, including the role of media in the development of economy and potential of digital media. The first day of the summit began with a welcome note from the host – actor and educator – Tazeen Hussain, followed by a brief speech from Dr Ishrat Hussain on how media influences economic expectations. His speech set the tone for the first panel discussion moderated by Ehsan Malik, CEO, Pakistan Business Council. The guest on the panel included Amin Hashwani, CEO, Hashoo Group of Companies, Arif Habib, CEO, Arif Habib Group, Asif Peer, CEO, Systems Limited and Duraid Qureshi, CEO, HUM Network Limited (HNL) and Arshad Munir, Joint Secretary, Ministry of Information & Broadcasting, all of whom highlighted the importance of media responsibility, effective branding for Pakistan and promoting success stories. They called for responsible coverage of global events, better content and growth in the entertainment sector. The need for media reforms and balanced reporting, with regulatory measures similar to banking, was emphasized to improve the overall media landscape.

The second session of the event, ‘Potential of Digital Media in Pakistan,’ hosted by Faizan Syed, CEO, East River, focused on digital growth, media consumption, and content creation. The panellists included Jehan Ara, CEO, Katalyst Labs, Farhan Khan, CEO, Brainchild Communications and Javed Jafri, Digital Media and Data Lead at Unilever. Key points discussed included the importance of understanding consumer habits, the need for quality programming, and the challenges of finding sustainable business models. The third panel discussion delved into advertising, traditional mind sets, and the need for guidance and education to help young people evolve and seize opportunities. The panelists Yaser Awan, Director, Mindstorm Studios, Imran Khan, Founder & CEO, Raptr Games, and Adnan Maqbool, CMO, Soul Tek Games Studio also highlighted the potential of gaming as a source of substantial earnings and economic benefits.

Day 2 of the Pakistan Media Summit featured discussions on filmmaking, music, comedy and soft power. Highlights included Carol Ann Noronha sharing her filmmaking journey, a panel on intellectual copyrights in Pakistan’s music industry, a debate on the lack of comedy in mainstream media, and strategies to enhance Pakistan’s soft power through media, culture, and education. The summit concluded with optimism for the industry’s growth and fostered collaboration among policymakers, industry leaders, and academia.

Notable panellists on the second day included Sultana Siddiqui, President, HNL, Javed Jabbar, former senator and federal minister for Information, veteran actress Bushra Ansari, Cemal Sangu,, Consul General of Türkiye, Ameena Saiyid, MD, Lightstone Publishers and former MD, Oxford University Press, Dr. Moeed Yusuf, a political scientist and Wasif Rizvi, Vice Chancellor, Habib University along with talented singers Bilal Maqsood and Asim Azhar.