Institute of Chartered Accountants of Pakistan organise seminar on Pakistan’s Economic Outlook

Karachi, December 21, 2012 (PPI-OT): The Southern Regional Committee of the Institute of Chartered Accountants of Pakistan (ICAP) organized a seminar on Pakistan’s Economic Outlook – 2013 and Beyond recently at ICAP House, Clifton. Syed Salim Raza, Ex. Governor, State Bank of Pakistan and S.M. Shabbar Zaidi, FCA Partner, A.F. Ferguson and Co. were the speakers while Dr. Ishrat Husain, Dean and Director, IBA and Ex. Governor, State Bank of Pakistan was the session chairman of the seminar.

Syed Salim Raza in his presentation discussed the economic challenge faced by Pakistan. He said that Pakistan’s economic problems are mostly pertinent to management and not resource oriented. He highlighted the financial indicators of year 2008- 2013 and Management Do’s and Don’ts to achieve growth scenario in Pakistan.

He emphasized on strengthening of Economic Institutions and progressive devolution of revenue and expenditure authority to most relevant tier of Government for the sustainability of economic growth.

Addressing the seminar, Syed Muhammad Shabbar Zaidi spoke on International outlook-trends and effects on Pakistan’s economy, general state of affairs and Pakistan’s fiscal position in Year 2012-2013. He particularly underlined that the country’s economic outlook poses a going concern issue for which undocumented economy is playing a lethal role.

He gave various suggestions for additional generation of around Rs. 800 billion (with 10% increase every following year) as taxes from untaxed sectors, revamping of indirect / direct tax structure, devolution, documentation, asset records, automation, no disguised whitening of wealth and automation of land records.

Dr. Ishrat Husain, in his concluding remarks, appreciated the speakers’ efforts sharing in their views about Pakistan’s Economic Outlook. He expressed hope that the new generation of Pakistan would lead the country out of present economic crises by strong and transparent governance and vision.

For more information, contact:
Muhammad Rafiq
Media Coordinator
Institute of Chartered Accountants of Pakistan (ICAP)
Chartered Accountants Avenue, Clifton
Karachi-75600, Pakistan
Phone: +9221 111-000-422
Fax: +9221 99251626
Cell: 0300 2128185

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