Institute of Chartered Accountants of Pakistan organize seminar on International Monetary Fund Programme 2013

Karachi, December 13, 2013 (PPI-OT): The Southern Regional Committee of the Institute of Chartered Accountants of Pakistan (ICAP) recently organized a seminar on “IMF Programme 2013 – Need and Implications for the Economy of Pakistan” in Karachi.

Adnan Rizvi, CPD Convener, Southern Regional Committee ICAP in his opening remarks shared some interesting comments on the IMF Programme.

The key note speaker was renowned economist Dr. Kaiser Bengali who currently holds the position of Consultant for Economic Affairs, Government of Baluchistan. He gave two presentations, the first one titled “IMF and Pakistan” covered the history of IMF and its mandate as well as the history of relations between IMF and Pakistan.

The second presentation titled “Why are we lurching from crisis to crisis” elaborated upon the key reasons for our dismal economic situation. The last slide contained the following statement which effectively summarizes the message conveyed by the presentation “The need to go to the IMF and other powers repeatedly for bailouts is because of structural factors.

Freedom from the kashkol will require resolution of these structural factors”. Both the content and the delivery style of the presentations were greatly admired by the participants as they considered those to have provided them very valuable insights into the seminar topic in a concise manner.

A panel discussion followed the key note speech wherein Mr. Shabbar Zaidi – Partner, A.F. Ferguson and Co., Mr. Zubair Motiwala – Former President Karachi Chamber of Commerce and Industry and Mr. Tariq Ikram (S.I.) – Former Minister of State, CEO Trade Development Authority of Pakistan were the panelists while Mr. Farid Khan – CEO ABL Asset Management was the moderator. The key note speaker Dr. Kaiser Bengali also joined the panel.

Mr. Farid Khan set the tone of the panel discussion by sharing a couple of slides. The first one mentioned the recent IMF programmes agreed with other countries while the second one specified the key IMF conditions for the recent programme for Pakistan. As expected, with such luminaries on the panel, the discussion became extremely interactive and lively which provided excellent knowledge to the participants on different facets of the seminar topic. The panel discussion was followed by the Q and A session.

The session chairman Syed Masoud Ali Naqvi – Senior Partner, KPMG Taseer Hadi and Co. concluded the session by highlighting the various aspects of the seminar topic that came under discussion. He was of the view that while Pakistan has great potential, we need to set our priorities right in order to achieve that.

He appreciated the SRC for holding a seminar on such a pertinent topic which will benefit the members. He also appreciated the key note speaker for his brilliant presentations and the panelists for participating in a thought provoking discussion. The programme ended with a vote of thanks by Mr. Junaid Shekha, Chairman SRC.

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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