Qanit was Head of Internal Audit at Unilever Pakistan and Executive Vice President at Ufone (Etisalat Telecom Group). Qanit is a Fellow Member of the Institute of Chartered Accountants of Pakistan, he was trained at A.F. Ferguson (PwC), where he worked in their Assurance and Tax consulting departments, serving large multinational organizations. He is also a qualified member of ICAEW and CIMA UK. He has also attended Senior Leadership programs with Harvard Business School.

He is a Member of the Technical Advisory Group of Accounting Standards Board and serves as the Chairman of the Audit Committee at the Character Education Foundation, a large non-profit organization. He is a frequent speaker and writes on economics, public policy, business, strategy, and financial reporting.