CEO Insights Magazine

Starting from mapping cash flow and analyzing the company's financial strengths as well as weaknesses, CFOs are often responsible for proposing strategic directions towards which an organization should navigate to reap better revenue. Equipped with varied expertise across different types of assignments such as audits and internal control assignments, and so on, Nisar has been associated with many financial institutions like stock exchange members and investment companies during his professional tenure at Pakistan. Nisar faced his share of ups and downs, but learning from the adversities, he was able to mold himself into a more competent individual with a zeal to take-on many high-volume challenges. Nisar soon moved to Saudi Arabia and got the opportunity to work with the Aasia Steel Company, which is considered the frontrunner in the oil and gas segment. Owing to the support and appreciation from the Chairman of the Group, Abdul Aziz AlMandil, an experienced business-man.

With his unperturbed passion to broaden his learning curve by knowing more about the nuances of the Saudi Arabian market, Nisar has been able to make a prolific identity for himself. Currently positioned as the Chief Financial Officer for Aasia Steel Company, Nisar Ahmed not only manages the team efficiently to meet the departmental KPIs and overall organizational objectives. As a veteran financial executive for the organization, Nisar is proud to be a prominent part of his company's growth journey and exponential expansion.

Nisar engages in an exclusive interaction with CEO Insights Asia magazine.

Define Aasia Steel Company as an organization and its products/service portfolio that keeps it afloat in the industry.

Aasia Steel based in Kingdom is world's largest cladding (CRA by welding) facility serving Saudi Aramco (an Oil Giant). Aasia Steel has been the best quality award winner for the last two years as large manufacturing for Saudi Aramco. Our Group holds Joint Ventures and partnership with highly renowned International Companies.

The Aasia Steel Group product portfolio includes manufacturing of the pipe fittings, Clad Pipe by Metallurgical Bonding Method, CS and Clad Pipe bends, Well head & Christmas tree components, and engineering & fabrication of Aerospace and Defence Industry.

What is the impact you have been making in your current role? What would you say is the uniqueness in your style of leadership?

I believe in hard work and I don't believe in leaving a job until I'm satisfied. This is where my uniqueness lies. I have built my team accordingly, which consists of fifteen industry stalwarts who believe in my ideology and support me consistently. When I joined the company, my focus was on three things; to understand the operations of the company, to understand the control requirements and develop the manual by consulting with different departments in the company, and thirdly, to manage the funding requirements of the company.

So, remaining aligned to these requirements, I have been able to contribute effectively to the expansion plans of our company. We have been able to expand manifold in the last four-five years, as I have been able to maintain a good rapport with the funding companies, banking sector, and financial institutions, which are not only supporting the businesses, but also assisting them in their expansion plans. Having the unique expertise of putting proposals and securing funding for the expansion plans, I have been able to contribute comprehensively towards the expansion plans of Aasia Steel Company.

What are the major challenges you have encountered in your journey so far? How did you overcome them and what did you learn from them?

Honestly, I don't have a knack for challenges other than welcoming it, I believe in learning from it and feel strong, I have been through few challenging phases in my life. Starting from my school days, when I had to walk miles to receive my early education to the initial days of my professional career when I was facing a problem of an economic crisis in 2008, the challenges have been abundant. During all the phases, I tried to make the best out of every situation and have given my complete dedication to work. During the two years of COVID, managing the financial operations and supporting the company to navigate through business-related shortcomings such as delays in the supply chain during that period was another challenging phase I had to endure. Currently, we are facing some hurdles pertaining to business expansion and internationalization. But, just like the other issues we had to face prior to the present situation, we have doubled our efforts and are facing those obstacles head-on to overcome them.

What are your goals for the future and how do you strive to achieve them?

During the voyage of your development and progression, you often reach a level where you need sustain-ability and try making sustainable operations for the company. At present, I am pragmatically engaged to make Aasia Steel Company a sustainable organization. Our next goal is digitalization, since the dynamics of the businesses are changing. Focusing on a diverse range of factors such as cost reduction, efficiency in the systems, and time saving/management. We are currently engaged in enhancing the standard of the company by adopting ERP, digital invoicing, CRM technology, and digital banking across our operations. Remaining fixated on our two major goals, sustainability as well as profitability, we are gearing-up to emerge as an undefeated leader in the oil and gas sector.

Based on your strong professional experience, what advice do you give to the upcoming professionals in the same industry?

There is potential in every human, you just need to harness it, polish it, and exploit it positively to achieve success. Show your willingness as well as your efforts and hard work for the development of your profession, while simultaneously keeping your professional training and updates continued. Since digitization is emerging as the new norm, keep updating and investing in yourself to succeed eventually. The behaviour of a person towards his team and organization matters the most. If you accept more responsibilities, you will be given more responsibilities and will be rewarded accordingly. But if you restrict yourself, you will be left alone and cornered. Therefore, try addressing the problems around you with a positive approach and co-operative attitude.

Nisar Ahmed, Chief Financial Officer, Aasia Steel Company

Nisar is a result-driven finance professional having ACCA and Masters in Commerce qualification, Nisar holds more than 15 years of experience in Finance and treasury management, financial reporting, financial statement preparation & presentation and statutory & internal audit in various sectors.