The reason I became an accountant is simple. I realised that a world of decision making depends on the work of the profession, and also that accounting is essentially the art of financial storytelling – that appealed to me. My father was an accountant too and he has always been an inspiration.
I started out in the hospitality industry in my home country, Pakistan. Then, after several years in services and tech, I switched to the manufacturing sector and my current employer, a specialist in cigarette and shisha production. This was a big step out of my comfort zone as it involved a move to UAE, but I wanted to test myself in a new industry and a new environment. I live by my mantra: ‘The only constant in life is change – therefore, embrace it without any regrets.’ There is no point in fretting about what you cannot prevent.
Taxes on tobacco products along the supply chain make it hard to set realistic margins
The tobacco industry faces many challenges. Among these, the high level of regulation and the need to satisfy the demands of the Federal Tax Authority are significant pressures. The number of taxes imposed on tobacco products throughout the supply chain make it hard to set realistic margins, and the cost of raw materials is high because the company has to source tobacco from outside the country. Increasing awareness of the harmful effects of smoking and the need to combat the growing counterfeit industry have made many players exit the scene altogether.
That said, there are also opportunities for a smaller player likes ourselves. These include the chance to dominate new markets, especially ones that others find difficult to penetrate because of supply chain issues, or diversifying into new products such as vapes. Being able to beat the big players’ pricing gives businesses like ours a significant advantage.
What I enjoy most about my job is constantly learning new things. Especially the challenge of familiarising myself with the evolving tax system in the UAE, and the volatile legal and regulatory landscape of the tobacco industry. I frequently take on tasks that are not in my job description just to learn more about the dynamics of the industry.
I would shorten the working week to four days and implement hybrid working
If I had law-making powers, I would make individuals eligible for global citizenship based on qualification and skillset alone. This would encourage both employers and employees to find the best fit without worrying about sponsorships and diplomatic hiccups. I would also shorten the working week to four days and implement hybrid working, as many studies support the advantages of this approach to work.
My biggest achievement has been achieving a senior position. I’m particularly proud of this because it’s happened away from my home country and in an industry where I had no prior experience.
If I wasn’t an accountant, I would be a professional food taster or, to use the technical term, a ‘sensory analyst’. Food and trying new cuisines of all types gives me great pleasure, and what could be better than getting paid to do it?
Away from my job, I enjoy going to the cinema – I never miss a new blockbuster. I also like to work out at the gym after work and, when I can, travel to new destinations, particularly places with hills, mountains and streams.
