ISLAMABAD: President Dr Arif Alvi has called for increasing cooperation between the supreme audit institutions of Pakistan and Azerbaijan for sharing best auditing practices to enhance transparency and financial accountability.

He said that public sector accounting was a critical component of financial management within government organizations that helped ensure transparency and accountability in government spending.

The president expressed these views while talking to the visiting Chairman of the Chamber of Accounts of the Republic of Azerbaijan, Vugar Gulmammadov, who along with his delegation, called on him, at Aiwan-e-Sadr, Friday. The Auditor General of Pakistan (AGP), Muhammad Ajmal Gondal, and officials of AGP also attended the meeting.

Chairman of the Chamber of Accounts of Azerbaijan (CAA), Vugar Gulmammadov, briefed the president about the memorandum of understanding (MOU) signed between the Supreme Audit Institution of Azerbaijan, CAA, and the Supreme Audit Institution of Pakistan, AGP, for peer reviews of public accounts. He said that the MoU would help deepen friendly relations between the two countries.

The president lauded the signing of the MoU between AGP and CAA, saying that it would increase cooperation between the two countries in the field of Public Sector Auditing. He added that cooperation between CAA and AGP would be mutually beneficial for both countries. He also appreciated AGP’s role in carrying out peer reviews of the Supreme Audit Institution (SAI) of Azerbaijan.

Talking to the delegation, the president said that Pakistan accorded special importance to its relations with Azerbaijan, which were based on common faith, shared history, and people-to-people contacts. He stated that promoting cultural exchanges and strengthening cooperation in the cultural and economic fields was vital for fostering understanding and mutually beneficial development between the two brotherly nations. He termed the cooperation between Pakistan and Azerbaijan “pivotal for promoting peace, stability, development in the region”.

The president also felicitated President Ilham Aliyev of Azerbaijan on his re-election in the Presidential elections held on 7th February 2024 and hoped that the bilateral relations between Pakistan and Azerbaijan would be further strengthened during his tenure.

Copyright Business Recorder, 2024