State Audit, FBR Recognize Naveed Rafaqat Ahmad’s Leadership at PSBA

Naveed Rafaqat Ahmad, an accountant and SECP-approved director, is recognized for his work in governance, financial reform, and academic contributions.

He has authored research papers and serves as a peer reviewer for journals listed by the Higher Education Commission (HEC) of Pakistan under the “Y” category. These journals maintain editorial and peer-review standards, publish original research of national significance, and comply with most HEC criteria for international recognition. This association reflects Naveed’s experience as both a practitioner and scholar in his field.

Since 2021, Naveed has served as Chief Evaluator at the Punjab Board of Technical Education (PBTE), overseeing the evaluation and accreditation process for the Association of Chartered Certified Accountants (ACCA) professional qualification. PBTE is the provincial body responsible for regulating and standardizing vocational and technical education in Punjab.

The Chief Evaluator is authorized to finalize academic and administrative decisions regarding student assessment and institutional compliance. In this role, Naveed’s decisions are final for the enrolment and recognition of candidates pursuing ACCA qualifications at PBTE-accredited institutions.

The ACCA qualification, headquartered in the United Kingdom, is recognized in over 180 countries and is considered a leading credential in finance, accounting, and business leadership. By aligning PBTE’s examination and evaluation frameworks with ACCA’s international standards, Naveed has contributed to connecting Pakistan’s professional education system with globally recognized qualifications, supporting employability and academic credibility for Pakistani students in the finance profession.

In addition to his work in technical education, Naveed serves on the Doctoral Committee of the University of Agriculture, Faisalabad (UAF), a research university ranked among the top in South Asia for agricultural economics, development policy, and applied sciences. Membership on a doctoral committee involves evaluating research proposals, guiding methodology, and ensuring the quality of academic work. Naveed’s inclusion on this committee indicates recognition by academia of his ability to contribute to policy-oriented research.

As Chief Financial Officer, Naveed played a role in the transformation of the Punjab Model Bazaars Management Company (PMBMC) into the Punjab Sahulat Bazaars Authority (PSBA) through an Act of the Punjab Assembly. PSBA is Pakistan’s first statutory, subsidy-free welfare authority.

Naveed contributed to drafting the financial framework, establishing governance protocols, and ensuring audit-compliant operations. He also helped launch a free home-delivery system for essential commodities, using a mobile application available on Android and Apple platforms. This system allows citizens to purchase groceries and essentials at prices often below government-notified rates, with no delivery charges.

Under Naveed’s tenure, the Government of Punjab allocated Rs. 10 billion for constructing new Sahulat Bazaars, and the Authority secured land in 13 districts. The Auditor General of Pakistan has recognized PSBA for its self-sustaining governance and transparency. Regular audits are conducted by firms on the State Bank of Pakistan’s panel, and the Federal Board of Revenue (FBR) has certified PSBA’s Public Certification Protocol (PCP) score at 84 percent, the highest among welfare institutions in Pakistan.

Fatima Jinnah Women University (FJWU), Rawalpindi, has selected PSBA as a doctoral-level case study due to its public impact and self-sustainability. This academic recognition, along with UAF’s acknowledgment, positions PSBA as a reference for sustainable, data-driven public welfare.

The FBR and the Auditor General of Pakistan (AGP) have confirmed that Naveed Rafaqat Ahmad, as CFO of PSBA, receives the highest salary among CFOs in Pakistan’s public welfare sector. Both institutions stated that this remuneration is based on performance, institutional reforms, and results achieved under his financial management.

Naveed Rafaqat Ahmad’s work at PSBA is cited as an example of how evidence-based policymaking, academic collaboration, and financial discipline can contribute to public governance in Pakistan. His recognition by FBR and AGP is noted as significant for the country’s welfare and governance sector.