The Institute of Chartered Management Accountants of Pakistan (ICMAP) has developed proposals, short term and long term, for inclusion in the 100 days priority plan of PML (N). The proposals which have been categorised in five 'priority areas' have been forwarded to relevant authorities.
These proposals have been developed immediately after knowing about the plan which Mian Nawaz Sharif wishes to announce in his maiden speech to the nation after assuming the office of Prime Minister. The ICMAP said that the nation, in general and the business community as well as professional community, including management accountants, have great expectations from the new government that it will take immediate measures on 'war-footing basis' to tackle host of issues confronting the nation such as energy crisis, security concerns, dwindling economy, precarious business environment and rampant corruption in the country. The proposals, developed by the Research & Publications Committee of ICMAP, have been categorised as under:
1. Energy concerns - Meeting energy shortfall
2. Security concerns - Improving law and order
3. Public concerns - Bringing down inflation
4. Business concerns - Restoring confidence of business community, and;
5. Governance concerns - Tackling corruption and inefficiencies of Public Sector Enterprises (PSEs).
The Research & Publications Committee has already submitted its 'Taxation Proposals' as well to the Federal Board of Revenue (FBR) for consideration in Federal Budget 2013-14. The R&P Committee is now working on a comprehensive reference booklet on "Recommendation for Economic, Taxation and Industrial Policies".
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ICMA PAKISTAN'S SUGGESTIONS FOR 10-POINT AGENDA OF NEW GOVERNMENT OF PAKISTAN MUSLIM LEAGUE (PML)
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NO. PRIORITY AGENDA SHORT TERM MEASURES LONG TERM MEASURES
(FIRST 100 DAYS) (NEXT 2 TO 3 YEARS)
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1. Meeting Energy Shortfall (Energy concerns) 1. A Special Task Force may be formed to take 4. Instead of importing expensive oil and gas, we can
immediate crack down on 'energy thefts' throughout move to import cheaper clean coal for use as fuel
the country to reduce losses in electricity in power generation. The price of coal is stable in
transmission and distribution. international market, which will help
2. In those parts of country where national grid do not bring stability in our electricity prices.
exist, business community may be allowed 5. Focus on building large number of small
to set up their own power projects (solar, wind dams on Public-Private Partnership
based) without the prior permission of NEPRA. (PPP) basis to generate hydel power and
3. A Committee may be formed immediately to to boost agriculture productivity.
finalize a national plan to generate electricity 6. Government may provide interest-free loans
through use of waste materials of crops like (to be paid in easy installments)
sugarcane baggasse, cotton waste, rice husk to public in urban areas (initially in Karachi,
and organic materials. Lahore and Islamabad) to install small solar
panels in their homes to generate energy. For this
purpose, funding can be obtained
from international donor agencies.
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2. Improving Law and Order (Security Concerns) 1. The Citizens-Police Liaison Committee (CPLC) 3. An Independent Police Complaints Commission (IPCC)
may be allowed to play an active and effective role be established (as existing in UK as per Police
with additional powers to take actions against 'money Reform Act) to investigate most serious complaints
extortions' from business areas, and allegations of misconduct against the police, as well
especially in Karachi, the hub of trading activity. as handles appeals from people not satisfied with
2. The country has to suffer business loss of billions the way police have dealt with their complaint.
of Rupees due to 'strike calls' given by political and The proposed IPCC should be self-governing, making
religious parties. As such, new government decisions entirely independently of the police,
may consider imposition of complete ban on government and complainants. It will provide
such strike calls. A huge sum of penalty may be asked a powerful legal regulatory framework
from those parties which violates this ban. making the police accountable for their actions.
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3. Bringing Down Inflation (Public concerns) 1. Government should immediately waive of 4. Government may consider forming nation-wide
all kinds of taxes and levies on essential network of 'Consumer Societies
commodities like flour, sugar, rice, ghee, oil and or Associations' to assert pressure on the
dairy products to bring some relief to the general public. Retailers Associations not to charge excessive
2. Government should make immediate profits on essential items. The provincial
crack down on hoarders of food items, government may be asked to support these Societies.
(irrespective of their political affiliations) 5. There is an urgent need to restrict government
that result in artificial inflation. borrowing to curtail excessive monetary growth
3. Cost and Management Accountants may - leading to inflationary pressure.
be given a role to carry out 'cost-profit A ceiling may be imposed by the government itself.
analyses' of goods available in market to discourage
profiteering by producers or middlemen or retailers.
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4. Restoring Confidence of 1. A Joint Government- Business Forum (JGBF) 3. Government may announce a special package of
Business Community (Business concerns) may be formed, comprising of Ministers of Finance, ncentives for the overseas Pakistanis who
Commerce, Industry, and Investment (from Government wish to invest in Pakistan in feasible projects.
side) and Presidents/ Chairmen of Chambers They may also be allowed incentives for
of Commerce and industry Associations setting up SMEs in the Special Economic Zones
(from private sector) that meet regularly in Pakistan. The increased flow of remittances
on quarterly basis to resolve problems will not only improve balance of payment position,
faced by trade and industry as well as but also give impetus to industrial and economic
to seek their proposals in framing growth.
economic policies. A permanent secretariat 4. The Corporate tax rate on companies may be
of this forum may also be set up. reduced to 25% or else a uniform tax rate of
2. A renowned business personality of each province 30% be introduced on all businesses, irrespective
may be nominated as 'Special Advisor' to of their legal status to encourage corporatization.
the Chief Minister for advising him about
the business concerns and to identify areas for
future business growth. FPCCI should
be taken into confidence.
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5. Tackling Corruption and Inefficiencies 1. Private Sector representatives with good 4. Political will is the key driver of systematic
of PSEs (Governance concerns) track record of management, organization change in corruption environment.
and administrative skills, be appointed as An anti-corruption reform be undertaken
heads of Public Sector Entities (PSEs) in public and civil services.
like PIA, Railways, Pakistan Steel Mill, PEPCO, 5. NAB should be given more powers and independency
NHA, PASSCO, TCP, Utility Corporation etc to check corruption cases. It should
2. A 'single government holding company' be truly independent of any executive
may be formed to replace and take up or political control to investigate
role of different administrative into allegations of corruption against
ministries in controlling PSEs. Independent politicians, bureaucrats etc.
boards of directors may be formed and 6. The business community and the civil society
empowered to govern these PSEs with may be associated in anti corruption reforms
clear mandates, targets and accountability. and initiatives, to keep a check and balance on NAB.
3. A 'code of conduct' should be framed for 7. There should be continuous and effective audit
the public servants and parliamentarians. of personal accounts and bank accounts of politicians
Through an act of parliament, it should and bureaucrats.
be made obligatory to follow the code.
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