ISLAMABAD: Minister of State and Privatisation Commission Chairman Muhammad Zubair has inaugurated “Public Financial Management” conference, organised by Institute of Chartered Accountants of Pakistan (ICAP).
Speaking the conference, he highlighted positive achievements of the government and said that the Karachi Stock Exchange (KSE) is one of the fastest growing stock exchange which was an important indicator of economic growth. He said that the government was making the best efforts to improve public financial management. He cited the example of capital market transaction of UBL and PPL, which he appreciated as an excellent job done.
The minister highlighted two key impediments to economic development that was presence of militancy and lack of energy where considerable effort was required to adopt international best practices. He said that the government was working hard to resolve these issues on priority basis.
“Bringing foreign direct investment is also another key objective of the existing government and mentioned China, being a big time investor in Pakistan,” he added.
CIPFA International Chairman Ian Ball said financial chaos, economic crimes and civil unrest all relate to poor public financial management. Public sector accounting is critical to the growth of economy.