ICMAP launches training manual for banking sector

ISLAMABAD (NNI): Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan) organised a corporate networking dinner and launched training manual for banking sector and CMA career portal for corporate sector at a local hotel in Karachi. Kashif Mateen Ansari, President ICMAP in his address talked about the initiatives ICMAP has taken and the Institute is actively liaisoning with the academia and corporate sector for betterment of the Institute and the corporate sector both. He further emphasized the need to develop a specialized manual catering the demands of the Banking industry. The Institute identified that there is a dire need to fill the gap by providing trained resources to the Banks.

He further highlighted the role of CMA Career Portal can play to serve human resource requirements of the organizations in a timely and efficient manner.

Dr Ishrat Husain, Dean & Director of Institute of Business Administration (IBA) was the chief guest at the occasion. He appreciated the efforts of the Institute for launching a training manual for MTO program in banking sector and CMA career portal for facilitating the corporate sector.

Syed Irfan Ali, Executive Director BP & RD State Bank of Pakistan was the guest of honor. He applauded the efforts of Institute in developing a specialized Training Program for Banks. He further said that the areas selected are the important areas for banks and trained resources in those areas is the need of time.

Khawaja Ehrar Ul Hassan, Honorary Secretary & Chairman CR&C Committee ICMAP, briefed the guest about the objective of developing a specialized training manual for banking sector. The Institute is also planning to develop training manuals for other industries as well. He further informed the guests about the CMA Career Portal, which the Institute has recently developed. The purpose of the Portal is to provide fast, convenient and free of cost recruitment services to the corporate sector organizations. Organizations can register free of cost by contacting CR&C Department of the Institute.

Mohammad Iqbal Ghori, Vice President ICMAP highlighted the efforts of Institute in the area of Research & Publication.

Tajwar Baig, Director Corporate Relations & Communication (CR&C) ICMAP, highlighted the efforts CR&C Department and the initiatives taken to promote the services of the Institute which resulted in maximum placements of CMAs in the corporate sector.

The event was well attended by CEOs, CFOs, heads of finance & HR from corporate sector organizations. The guests were from various industries like banking, pharmaceutical, FMCG, manufacturing, textile, investment companies, education, oil & gas and services.

The event concluded with the vote of thanks by Anisur Rehman, Member National Council of ICMAP.

Pak-India agreement to resume talks a welcome step

LAHORE (Staff Reporter): Pakistan was consistent in its desire for resolution of all issues with India. PM Nawaz Sharif’s taking part in Modi’s inauguration was a positive step but India used Hurriyat leaders coming to the Pakistani High Commission as an excuse to show a tough line against Pakistan. Meeting the Hurriyat leaders was nothing out of the ordinary, he said. These views were expressed by APBF president Ibrahim Qureshi, who welcomed the Pakistan and India agreement to resume comprehensive dialogues. Ibrahim Qureshi observed that it is appreciable that the two major countries of the region have shown their resolve to resume dialogue process that will help in exploring the trade potential between the neighboring countries.

There’s a need for India to resume the dialogue process with Pakistan adopting a comprehensive approach. Militancy in India-held Kashmir cannot be resolved if the Kashmir issue is not resolved.

APBF President said in 2003 there was a unilateral ceasefire on the Line of Control (LOC) from the Pakistani side, and India reciprocated. For five or six years the LOC was quiet, but then sporadic firing happened. Now, he said, the LOC situation had stabilized to a certain extent but had the potential of escalating into something which could go out of control.

He said that the Indo-Pak trade could jump 10 times the current volume while the removal of tariff and non-tariff barriers imposed by India could result in an expansion of trade between the two countries from its current $2.5 billion to about $50 billion.

Ibrahim Qureshi stated that Islamabad and New Delhi should play their role to resolve bilateral issues, which are creating hurdles in trade. He went on to appreciate the role of Pakistan national forces and the people of Pakistan in fighting against terrorism. He insisted that all regional powers must show greater restraint and maturity to bring back peace and stability in the region.

He said that only 5 percent trade of the Southeast Asian nations is within the region while rest of the 95 percent trade of SAARC countries is with Europe and America which has impeded development.

TAPI project to help in resolving energy crisis: Jam Kamal

ISLAMABAD (NNI): Minister of State for Petroleum and Natural Resources Jam Kamal has said Turkmenistan-Afghanistan-Pakistan-India will help Pakistan in overcoming its energy crisis. Speaking in a state-run Radio programme, he said: “This ground breaking ceremony of TAPI project is scheduled on 13th Dec and PM will visit Turkmenistan to attend this ceremony. Turkmenistan has vast reserves of natural gas and this project will enable Pakistan to reduce its energy crisis by utilizing these natural resources. This project will also benefit all member states; Turkmenistan, Afghanistan, Pakistan and India. Afghanistan is responsible for the security of this pipeline on its land because it receives $500m in this regards.

This project will provide cheap gas to Pakistan and India.”

S&P warns Britain's AAA rating threatened by EU exit risk

LONDON (AFP): Ratings agency Standard & Poor's warned Friday that the risk of Britain leaving the European Union could affect its triple-A ranking. S&P, the only major ratings agency to rate Britain as AAA, maintained the ranking with a negative outlook due to uncertainties over a coming referendum on Britain's EU membership. It came shortly after the International Monetary Fund warned that uncertainty over a so-called "Brexit" could hurt its economy. "In our opinion, the possibility that the UK could leave the European Union (EU) as a consequence of a planned 'leave or remain' referendum... represents a risk to the UK economy," S&P said in a statement.

British Prime Minister David Cameron has promised to hold a referendum before the end of 2017, while renegotiating the terms of Britain's membership in the meantime.

Most opinion polls show greater support for remaining within the 28-member bloc among the British public, though the pro-EU lead has been narrowing.

If Britain were to leave the EU, S&P warned that London would lose its ability to influence EU policies on financial services, put at risk financing services for its public deficit, and in a worse case scenario "harm sterling's role as a global reserve currency".

Nevertheless, the ratings agency noted that it believed the most likely outcome would be that Britain would vote to remain within the EU.

Ratings agency Fitch also said on Friday that it believed it was most likely Britain would remain in the EU, saying its outlook was "stable".

It said a vote to leave the EU would be a "moderately negative credit development" and risk "triggering a second referendum on Scottish independence" following a plebiscite held in 2014.

Pak delegation visits Turkey

LAHORE (Staff Reporter): Plenty of business and investment opportunities lie in Turkey for Pakistani business community. This was stated by 15 member of Pakistani delegation after their week-long business tour to Turkey. Chairman Turkey-Pakistan Business Council and former LCCI president Bashir Buksh said that the love and protocol we received in Turkey is exemplary. Turkey is gateway to Europe and it can play great role for Pakistani businessmen to explore Europe. Chairman Lahore University and honorary Council General Uganda Awais Raoof said that we are are already working with Turkey and our experience is very positive. Turkey products and machinery is of very high quality and prices are cheap.

He said that Turkey is one of the fastest growing economies of the world. Pakistani exporters can send textile, leather, sports, medical products and equipments to Turkey and can import cheap machinery, technology and spare parts.