Private sector can help nation tackle crisis: Qaim

Role of accountants has shifted in present era, say conference speakers.

KARACHI:

Sindh Chief Minister Syed Qaim Ali Shah has said that the private sector of the country should realise its potential as it can do much more in reducing the gap between haves and have-nots in Pakistan and in helping the country deal with present challenges.

He was speaking at the Golden Jubilee anniversary of The Institute of Chartered Accountants of Pakistan (ICAP) on Tuesday. The two-day conference titled ‘Accountants and Social Responsibility’ was inaugurated on Tuesday and it would conclude on Wednesday (today) in which presidents and vice presidents of accountant bodies of India, Sri Lanka, Bangladesh and Nepal are participating.

Referring to professional accountants, Shah said, “Government recognises the role of technocrats in the country and it wants your help to overcome the sense of desolation in our people.”

ICAP President Saqib Masood said that the lobby has achieved recognition as a premier accounting body not only in the country but also globally for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards during its five decades of existence in the country.

ICAP was established in 1961 and since then it has come a long way from a very small community of registered accountants to a body of over 5,000 members, Masood said.

The Institute of Chartered Accountants of India President G Ramaswamy said that though the South Asian countries are moving in right direction, they need to enhance their cooperation in the field of accountancy.

The Institute of Chartered Accountants of Sri Lanka Vice President Sujeewa Rajapakse said that Pakistan and Sri Lanka should look forward and collaborate in the field of accountancy.

Professor Atta-ur-Rahman, FRS, Unesco Science Laureate on ‘Poverty alleviation: transitioning to a knowledge economy’ said industrialisation is the key to Gross Domestic Product growth. In order to develop the ‘knowledge economy’ Pakistan must produce high quality professionals and prepare a comprehensive plan focusing on medium and long term measures aimed at boosting agricultural and industrial production, he said.

Published in The Express Tribune, July 27^th,  2011.