KARACHI: Finance Minister Muhammad Aurangzeb on Friday met a delegation of Association of Chartered Certified Accountants (ACCA) and assured that his country was fostering a robust financial management framework aligned with global best practices amid its efforts for economic recovery.
The ACCA delegation, led by its global president Ayla Majid, briefed the minister about its collaborations with policymakers and government agencies, including the Finance Division, the Auditor General’s Office, and the Securities and Exchange Commission of Pakistan (SECP).
The delegation elaborated on ACCA’s specialized training, certifications and capacity-building programs, particularly in areas such as innovation, technology, public financial management, and financial governance, according to the Press Information Department (PID) of the Pakistani government.
During the meeting, Aurangzeb emphasized the need for outcome-based training and certification programs to ensure accountability and ownership in capacity-building initiatives in the South Asian country.
“He encouraged the organization to engage with other ministries and departments for broader training and development programs,” the PID said in a statement.
“The finance minister also underscored the importance of focusing on climate finance, particularly in terms of its utilization and measurable outcomes, to ensure sustainable economic growth.”
The development comes as Pakistan treads a tricky path to economic recovery under a $7 billion International Monetary Fund (IMF) loan program it secured in September last year.
Since averting an imminent default on its external debt in 2023, Pakistan is now keeping its current account in check primarily through containing imports. The country’s exports rose 10 percent to $19.6 billion in the last seven months till January, while it is keeping tabs on imports that increased by 7 percent to $33 billion, according to Pakistan Bureau of Statistics.
“Both sides reaffirmed their commitment to strengthening cooperation in financial governance and professional development, with a shared vision of enhancing Pakistan’s economic resilience and institutional capacity,” the PID added.
Pakistan commits to best financial management practices amid efforts to revive economy
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Pakistan commits to best financial management practices amid efforts to revive economy
- Pakistan is navigating an economic recovery path under a $7 billion IMF loan program it secured in September last year
- The country is keeping its current account in check primarily through containing imports since averting a default in 2023
Pakistan PM takes notice of passenger offloading issue, forms committee to streamline immigration
- Several passengers complained last month of being offloaded at airports despite having genuine travel documents
- Committee comprising IT minister to be led by minister for overseas Pakistanis, submit report to PM within three weeks
ISLAMABAD: Prime Minister Shehbaz Sharif has taken notice of reports of arbitrary offloading of Pakistani passengers at various airports and has constituted a 14-member committee to streamline immigration procedures, the Ministry of Overseas Pakistanis said this week.
The development took place after several passengers last month complained they were being offloaded at various Pakistani airports despite carrying valid travel documents, drawing public ire on social media platforms.
These reports coincided with Islamabad’s crackdown on illegal immigration, which gained significant attention in Pakistan after the arrest of several Pakistani and foreign nationals at airports with forged documents in recent years.
As per a notification by the Ministry of Overseas Pakistanis seen by Arab News dated Dec. 15, Sharif has formed a 14-member committee comprising the federal IT minister, state minister for overseas Pakistanis, and secretaries of both ministries. The committee will be led by the federal minister for overseas Pakistanis.
“A committee comprising the following members has been constituted to deliberate upon and implement measures for eliminating and minimizing human discretionary elements in the issuance and renewal of the Protectorate of Emigrants (POE) stamp for bona fide emigrants proceeding abroad,” the notification reads.
A POE stamp is a mandatory government endorsement on a Pakistani passport that is required by a citizen traveling abroad for employment.
The committee’s terms of reference (ToRs) include suggesting a “workable and end-to-end digitized process” for online issuance of POE stamps. It has also been tasked to undertake measures to develop a system to facilitate the online renewal of POE stamps.
The committee will suggest a mechanism to monitor workers’ satisfaction with the issuance, renewal of POE stamps and related immigration clearance arrangements.
“[Provide] recommendations for any other related measures which can improve the existing POE arrangements and bring them in line with international best practices,” it added.
The notification said the committee will finalize its findings within three weeks and submit a report to the prime minister.
Pakistan’s Interior Minister Mohsin Naqvi last month urged authorities not to offload passengers with valid travel documents.
Pakistan has also intensified its crackdown against individuals accused of exploiting visas to solicit money in Saudi Arabia.
Officials have warned the practice is damaging the country’s image and could affect genuine visa seekers, including religious pilgrims.
