ISLAMABAD  - Minister of State/ Chairman Privatisation Commission Muhammad Zubair on Monday said that the incumbent government is working hard to resolve two issues of militancy and lack of energy that are impediment to the economic development of the country.
He was speaking at the inaugural session of "Public Financial Management" conference, which was organised by Institute of Chartered Accountants of Pakistan (ICAP).
He highlighted positive achievements of the government. He pointed out that Karachi Stock Exchange (KSE) is one of the fastest growing stock exchange which is an important indicator of economic growth and said that present government is making best efforts to improve public financial management.
He cited the example of capital market transaction of UBL and PPL, which he appreciated as an excellent job done.
Minister highlighted two key impediments to economic development that is presence of militancy and lack of energy where considerable effort is required to adopt international best practices.
He said that the government is working hard to resolve these issues on priority basis. Bringing foreign direct investment is also another key objective of the existing government and mentioned China, being a big time investor in Pakistan.
Muhammad Zubair further said that we hope to make Pakistan politically stable, financially strong and economical sound and conveyed the government’s resolve to improve good governance and introduce effective public financial management.
Chairman CIPFA International Ian Ball said financial chaos, economic crimes and civil unrest all  relate to poor public financial management.
Public sector accounting is critical to the growth of economy.
The highlight of the inaugural session was the signing of MoU between CIPFA and The Institute of Chartered Accountants of Pakistan (ICAP) to promote the accounting profession in the country and work together on avenues of mutual benefit. Speaking on the occasion, Yacoob Suttar President Institute of Chartered Accountants of Pakistan  said: “Institute of Chartered Accountants of Pakistan  is fully cognisant of the need for good governance and importance of effective public financial management in government departments and public sector entities.