For the first time, The Institute of Chartered Accountants of Pakistan (ICAP) through its Economic Advisory and Government Relationship Committee (EAGR) platform has prepared Model Federal Budget and Proposals for Economy’s Growth and presented to Federal Ministry.
Mr. Ashfaq Tola, Vice President ICAP and Chairman EAGR Committee, accompanied by Mr. Ali Latif, Vice President ICAP presented model budget document to Mr. Shaukat Tareen – Federal Minister (FM), Revenue and Economic Affairs and Dr. Waqar Masood, Special Assistant to the Prime Minister (SAPM) on Revenue.
Being the custodian of the accounting profession in Pakistan, ICAP has evolved over the years and has ensured transparency, accountability and good governance within the profession. In line with this mandate, ICAP’s support, facilitation and available knowledge pool of its members has significantly contributed towards economic uplift of the country. The purpose of this document was to present compiled recommendations for economic reforms that can help improve future outlook of the country. The aim was not to provide short term solutions to meet immediate challenges being faced by Pakistan’s economy; rather it has been prepared with focus on overall improvement in the long run.
With the individual recommendations from ICAP’s members and sector-wise extensive recommendations contributed from its EAGR members and conveners, some of the policy measures in this document are expected to bring in fruitful results for our economy by improving our GDP and controlling the fiscal deficit.
Mr. Shaukat Tareen and Dr. Waqar Masood lauded ICAP’s Contribution and appreciated Institute’s commitment towards the profession. It was mutually agreed that ICAP and Finance Ministry would continue to work together in future endeavors as well. On this occasion, Coffee Table book was also presented by the Institute to both the dignitaries.
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