CIMA is proud to recognise the outstanding achievements of Sajid Akram, FCMA, CGMA, who has been awarded the Sitara-i-Imtiaz, one of Pakistan’s highest civilian honours, by the President of Pakistan. The award acknowledges his exceptional contributions to the country’s power sector and his dedicated service in advancing structural reforms that have delivered significant economic benefits to the nation.
A CIMA® Fellow and CGMA® qualified professional, Akram has built an exemplary career spanning public service, regulation, policy development, and strategic leadership. His work has played a vital role in improving the affordability, efficiency, and financial sustainability of Pakistan’s energy sector, directly benefiting both consumers and the national economy.
Driving regulatory reform
During his tenure as Director General at the National Electric Power Regulatory Authority (NEPRA), Akram led and contributed to numerous high-impact initiatives that helped shape the future of Pakistan’s electricity market. He headed both NEPRA’s Tariff Department and its Appellate Tribunal Team, leading efforts to strengthen regulatory frameworks and improve decision-making processes across the sector.
His expertise also earned international recognition. In November 2015, NEPRA nominated Akram as a member of the Electricity Markets and Economic Regulation Committee of the Energy Regulators Regional Association (ERRA), headquartered in Budapest, Hungary. ERRA brings together energy regulators from more than 45 countries across five continents, fostering collaboration and knowledge-sharing on key regulatory challenges.
As part of his work with ERRA, Akram served as project leader for a member-to-member project with Latvia focused on competition in electricity markets. The project made a significant contribution to the development and approval of Pakistan’s first-ever market design model by the regulator, laying the foundations for a more competitive and efficient electricity sector.
In recognition of his contributions to international energy regulation, ERRA member states selected Akram as a Presidium Member in June 2021. He served in this leadership role until May 2025, helping guide the strategic direction of the organisation and strengthening cooperation among energy regulators worldwide.
Supporting the profession
Alongside his professional achievements, Akram has remained actively engaged with the accounting and finance profession. From June 2022 to June 2024, he served on the AICPA® & CIMA® Middle East and Pakistan Area Committee, supporting the advancement of professional excellence and member engagement across the region.
Leading energy sector transformation
Akram’s impact extends far beyond regulatory policy. In October 2023, he was appointed team lead of the Special Delivery Unit within Pakistan’s Ministry of Energy (Power Division). In this role, he led the development of a tariff rationalisation proposal aimed at reducing cross-subsidisation within the industrial sector, which at the time exceeded PKR 200 billion. The proposal later informed government decisions on consumer tariff rebasing and formed part of broader efforts to support economic growth and industrial competitiveness.
His contributions to national reform efforts continued to grow. In August 2024, Akram was appointed as a member of the Prime Minister’s Taskforce on Implementing Structural Reforms in the Power Sector and as team lead of the taskforce’s Analysis Cell.
In these roles, he played a central part in negotiations relating to power purchase agreements, addressing future demand challenges and cost inefficiencies within the sector. His work contributed to the revision of capacity payments for projects operating under the 1994 and 2002 power policies through a hybrid take-and-pay model aligned with Pakistan’s future energy requirements.
These reforms generated projected savings of more than PKR 1 trillion over the lifetime of the affected projects, with PKR 129 billion in confirmed savings expected to be reflected in the following fiscal year. Additionally, Akram led efforts to develop a comprehensive strategy to eliminate circular debt across both the power and petroleum sectors.
Among his most notable achievements was leading the team responsible for structuring Pakistan’s largest-ever banking transaction, valued at PKR 1.2 trillion. The initiative also secured savings exceeding PKR 400 billion in late payment surcharge costs, delivering substantial financial benefits for the national exchequer.
National recognition for exceptional service
It was in recognition of these extraordinary accomplishments and his leadership in implementing critical power sector reforms that Akram was awarded the Sitara-i-Imtiaz, Pakistan’s third-highest civilian award.
Today, Akram continues to serve the country as Advisor (Power) with the Privatization Commission of Pakistan, where he is leading the privatization process for nine state-owned electricity distribution companies and two generation companies.
A career defined by impact
In addition to his FCMA and CGMA designations, Akram is an Associate Member of CPA Australia and holds a Master of Science in Strategic Business Management and a Master of Laws in Commercial and Corporate Law from the United Kingdom.
His career exemplifies the impact that finance and business professionals can have on public policy, economic development, and national progress. CIMA congratulates Sajid Akram, FCMA, CGMA, on this prestigious recognition and celebrates his continued commitment to public service, professional excellence, and transformative leadership.