Minister of State for Overseas Pakistanis, Tariq Azeem Khan on Saturday stressed the need of devising export oriented policies to grab fair share from the global market for the benefit of masses.
Addressing as a chief guest here at the 10th Management Accountants International Conference organised by the Institute of Cost and Management Accountants of Pakistan (ICMAP), the minister emphasised that liberalisation and openness would yield significant gains through winning a strong place in the global trading system.
He referred to the Far Eastern countries and said their economies bear testimony that the countries that opened themselves to international trade, developed rapidly.
Pakistan, he said, has achieved a remarkable turnaround through comprehensive changes in the policies. As a result, the country has achieved microeconomic stability, removed economic distortions through prudent structural reforms.
However, he said there is no room for complacency because the country still confronted with the challenges of poverty reduction, employment generation, low social indicators, high inflation, low investment and insufficient infrastructure.
The minister said the second-generation reforms initiated by the government are expected to strengthen the country's institutions and capacity to deliver the basic services.
Tariq Azeem eulogised the ICMAP for maintaining high quality education and examination system and said the institute is promoting efficiency and effectiveness by providing competent and high calibre professionals in management accountancy.
Chairman, United Nations Conference on Trade and Developments (UNCTAD's), Abbas Ali Mirza said the management accountants must progress beyond their role of financial reporting and providing information for planning, control and decision support.
Earlier, Muhammad Rafi, President ICMAP, in his welcome address said that management accountants' international conference was being organised after three years. He said in the wake of global and upcoming challenges for the management accountants, the conference was organised with the theme of "The Profession of Management Accounting in Changing Global Science".
Mian Mumtaz Abdullah giving his concluding remarks elaborated that how the management accountants promote efficiency and effectiveness in business organisations and control cost management.