Business Recorder
LAHORE: Advisor to the Finance Minister Khurram Schehzad has said that the government is creating new opportunities for economic growth through digitization of the economy, improvement in the tax system, financial transparency and investor-friendly policies. He said accountants can play an important role in improving institutional performance, enhancing transparency and supporting policymaking in line with modern economic requirements. He expressed these views while addressing the two-day SAFA International Summit 2026, organized jointly by the South Asian Federation of Accountants (SAFA) and the Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan) at a local hotel on Saturday. READ ALSO: Economic policymaking: Mian Zahid urges for fundamental shift The summit was attended by SAFA President Humayun Kabir, ICMA President Azeem Hussain Siddiqui, ICMA Vice President and Chairman Organizing Committee SAFA International Summit Muhammad Yaseen, along with renowned financial experts, policymakers, regulators and corporate leaders from Bangladesh, Sri Lanka, Nepal and other member countries. Khurram said the world is currently passing through a period of rapid economic, technological and geopolitical changes where artificial intelligence, the digital economy, global political shifts and changing social priorities are reshaping the global financial system. In such circumstances, the role of the accounting and finance profession has become more important than ever. He said today’s accounting professionals are no longer limited to preparing financial records but are now serving as institutional advisors, strategic partners and active contributors in decision-making, risk management, performance analysis and long-term planning. He said that in this era of transparency and accountability, the accounting profession forms the foundation of economic stability because investors, governments, regulatory bodies and the public rely on accurate and reliable financial information. Therefore, accounting professionals must uphold the highest standards of integrity, professional ethics and transparency. Khurram described the theme of the conference as timely and future-oriented, saying that as the world moves toward a digital and sustainable economy, the accounting profession must also adapt to new technologies and modern requirements. He said artificial intelligence, blockchain, cloud computing and data analytics systems are bringing revolutionary changes in the preparation, analysis and monitoring of financial information. Therefore, accountants must continuously enhance their professional skills and modernize institutional systems to effectively tackle future challenges. The advisor to the finance minister said Pakistan is currently passing through an important economic phase and the government is taking serious measures for sustainable economic growth, fiscal discipline, promotion of investment, increase in exports and establishment of strong institutional structures. He said that under the leadership of Prime Minister Muhammad Shehbaz Sharif, the government is firmly implementing a reform agenda aimed at strengthening public financial management, improving the tax system, ensuring effective enforcement, enhancing corporate governance and reinforcing accountability mechanisms. Khurram said South Asia is currently facing serious challenges including economic slowdown, climate change, energy crises, debt pressures and uncertainty in the global financial environment. He said strong financial governance, transparent accountability systems and effective public financial management have become indispensable to address these challenges. He said the accounting profession can play a fundamental role in building trust between state institutions, the private sector and the public, while professional accountants and financial experts also have the ability to contribute effectively to diplomacy, policymaking and international cooperation. Describing youth as the most valuable asset of Pakistan and South Asia, he said providing them with quality education, modern skills, ethical values and opportunities for continuous learning is the need of the hour so they can play an effective role in the global economy. Khurram said forums like the SAFA International Summit provide an effective opportunity for countries in the region to learn from each other’s experiences, exchange best financial and administrative practices and promote regional cooperation. He emphasized that transparency, good governance and institutional strength are essential for inclusive and sustainable economic growth in South Asia. He congratulated ICMA Pakistan on completing 75 years and expressed hope that the discussions and recommendations emerging from the summit would contribute to the development of the accounting and financial sectors across the region. He said the Institute of Cost and Management Accountants of Pakistan has played a significant role over the last 75 years in promoting professional standards, enhancing institutional capacity and contributing to national development.
Go to News Site