Senate Chairman Muhammadmian Soomro has asked management accountants to contribute in a big way to put the productive units on the right track as efficiency and effectiveness in their area of specialisation can beef up good governance in the corporate sector.
He was speaking at the Convocation of Institute of Cost and Management Accountants of Pakistan (ICMAP) here on Friday. Soomro, who was Chief Guest, added that the management accountants could discipline the country's economy, steering it to greater efficiency, cost reduction, productivity and enhancing competitiveness of trade, industry and services sector. In all 140 graduates of three sessions from 2003 to 2006, including about 10 girls, received their degrees.
Earlier, in his welcome address Mati-ur-Rehman Mirza, Vice-President of ICMAP, said the institute established in 1951 now has branches all over the country.
In each sector, there are about 200 graduates from this institute, most of them serving with devotion and dedication on top positions, he said. Mirza asked the government to supply more funds to this institute and make full use of the skills of those graduated from here, which he thought, is not being done at present.
According to him the total annual expenditure of the institute is Rs 288 million while government's contribution is Rs 2 million only, which is very low. Rest of the expenses is met with members' contribution and the institute's earnings, he added.
Mirza disclosed that the post of Chief Cost Accountant is lying vacant for three months, which shows lack of interest on the part of government.
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