Page 16 - Jan-Mar 2016 The Pakistan Accountant

Signature Qualification CA that Empowers to Lead PAKISTAN Cover Story South Asia which comprises of Pakistan, Bangladesh, India, Sri Lanka, Nepal, Bhutan, Afghanistan and Maldives contributes significantly to the world development in the following manner, and as a result has established its importance on the global map: 1. South Asia has experienced a long period of robust economic growth, averaging 6% a year over the past 20 years. This strong growth has translated into declining poverty and impressive improvements. 2. South Asian population is around 1.4 billion and consumption as compared to Europe and other parts of the world is high, Contributes their economic development in the shape which may attract the rest of the world for of investments, sale of goods, etc. to World 3. South Asian countries consists of under-developed and developing states and produces economical and inexpensive skill Development and intellectual human resources, from which rest of the world may be benefitted in many areas including maintaining global competitive prices. For example, chartered accountants of Pakistan are highly demanded globally as they maintain and standards international possess leadership qualities. Likewise, the field of technology is captured by the Indians by Syed Imtiaz Abbas Hussain while for technical skills Bangladeshis have a global demand. 4. There are unlimited un-tapped natural resources in South Asian states which can be explored by investing in them. 5. South Asian states are comparatively less exposed to natural calamities by the grace of Almighty Allah, which undoubtedly contributes to the world development. 6. Due to availability of cheap human resources and inclination to rural land developments in South Asian states, the prices of goods and commodities are very low, which also attracts the rest of the 14 The Pakistan Accountant January - March 2016