CONFERENCE ON BUILDING A RESILIENT PUBLIC FINANCIAL MANAGEMENT ECOSYSTEM: Messages from Saif Ullah President, Institute of Chartered Accountants of Pakistan (ICAP)

TEXT: It is with immense pride that the Institute of Chartered Accountants of Pakistan (ICAP) joins forces with the Chartered Institute of Public Finance and Accountancy (CIPFA) to host the pivotal conference, “Building a Resilient Public Financial Management Ecosystem.” This groundbreaking collaboration amplifies our unwavering dedication to forging resilient, transparent, and sustainable public financial management (PFM) systems amid Pakistan's ongoing economic challenges and reforms.

In an era marked by persistent fiscal pressures, including a projected GDP growth of just 2.7% for FY2025, soaring public debt exceeding PKR 76 trillion, and the imperative to sustain IMF-backed stabilization efforts, robust PFM stands as the bedrock of fiscal discipline, accountable governance, and inclusive socio-economic progress. As Pakistan navigates post-flood recovery, implements critical tax reforms like the Agricultural Income Tax, and advances ADB-supported initiatives to enhance revenue mobilization and expenditure efficiency, the urgency for institutional fortitude and financial transparency has reached a critical juncture. This conference emerges as a vital arena, uniting visionary policymakers, financial trailblazers, regulators, and development allies to forge bold reforms and deliver transformative solutions that propel Pakistan toward sustainable growth and resilience.

As Pakistan's foremost accountancy institution, ICAP relentlessly champions initiatives that amplify public value through unwavering financial stewardship, ethical excellence, and targeted capacity-building. Our impact resonates from bolstering audit and reporting frameworks to elevating professional accountants in public service, all while harmonizing national practices with global benchmarks and cultivating a culture of innovation and accountability across the fiscal spectrum.

I applaud the Conference Organizing Committee, led by the exemplary Mr. Khalid Rehman and Mr. Muhammad Maqbool, for their foresight and tireless commitment in crafting an agenda that confronts Pakistan's pressing fiscal realities—such as curbing unchecked expenditures, simplifying tax systems, and leveraging digital tools for greater efficiency—while unlocking pathways to prosperity.

To all participants and stakeholders, I extend my fervent best wishes, assured that the groundbreaking insights from this forum will ignite the reforms needed to build a fortified, transparent, and high-performing public sector, steering Pakistan toward a thriving future.