‘Transparent use of fundskey for uplift schemes to bear fruit’

Transparency in utilisation of public funds is of immense importance to ensure that a development scheme yields maximum benefits for the masses.

This was stated by Sindh Governor Mohammad Zubair during a meeting with a four-member delegation of the Institute of Cost and Management Accountants (ICMA) Pakistan - led by its president Muhammad Iqbal Ghori - at the Governor House on Sunday.

Other members of the delegation included the institute’s vice president, Anis-ur-Rehman, executive director, Mushtaq A Madraswala, and director, Shahid Anwaar. Zubair said it was of utmost importance that costs of all development projects are measured as such that a sufficient amount for the projects is earmarked. Cost and Management Accountants play a pivotal role in this regard, the governor acknowledged.

Lauding ICMA’s role, the governor stated that the institute is providing quality education, testing competencies and conferring internationally recognised post-graduate professional certifications of Associate Cost and Management Accountant (ACMA) and Fellow Cost and Management Accountant (FCMA), on its students. Zubair also commended its collaborations with CIMA-UK, ACCA-UK, CPA Australia and CPA Ireland. “This partnership is mutually beneficial for the countries engaged in this association,” he said.

Governor Sindh also lauded the technical support the institute is lending to the ministries of finance, commerce, planning commission and the Securities and Exchange Commission of Pakistan, State Bank of Pakistan, Federal Board of Revenue, Accountant General of Pakistan Revenues, Auditor General of Pakistan, Competition Commission of Pakistan, among other regulatory and policy making organisations.

“This technical support by the ICMA is enabling these organisations to work more effectively for the progress of the country,” he added. Zubair opined that Management Accountants produced by the institute have met the requirements of the industry and business over the years as they are trained to put their knowledge to valuable use.

While briefing the governor, Muhammad Iqbal Ghori stated that the institute has over 5,000 members, of which over 900 are serving abroad in the capacities of CEOs, CFOs, COOs, CIAs, company secretaries, financial analysts, public practitioners, management consultants.

The ICMA President stated that, hence, the institute’s members are making significant contributions towards the growth of business and economic development. The institute has over 15,000 students, 200 faculty members, over 250 employees, seven regional branch councils, 11 educational campuses and 18 examination centres, he added.

Ghori further said that the council, with eight elected members and four members nominated by the Government of Pakistan, is a supreme decision making body and is responsible for overall management of the institute.