It has been reported in a section of the press that Institute of Chartered Accountants of Pakistan (ICAP) is opposed to the privatization of distribution companies in the power sector. This is a baseless assertion. The Institute has not taken any such position. The news has been misconceived in the backdrop of the proceedings of a workshop arranged in the Institute's Office in Karachi, where as part of its Continuing Professional Development (CPD) programme a research paper prepared by Salman Amin, a member of a sub-committee of ICAP on Economic Affairs and Government Relations, was discussed for some preliminary ideas on the power sector which was based on his personal experience.
This was the first of a series of the seminars to seek the views of stakeholders before the research paper would be presented to the ICAP Council for its guidance. The Institute being a professional body is actively committed to economic and financial development of the country. The seminars, CPD activities and research based publications are made by ICAP to engage stakeholders for their input on its recommendations and advice to be submitted to the government at appropriate forums.-PR