Institute of Chartered Accountants of Pakistan (ICAP), Lahore Chamber of Commerce and Industry (LCCI) and Pakistan Institute of Public Finance Accountants (PIPFA) have agreed to collaborate in developing a comprehensive document on charter of economy. In this regard, Minister of State and Chairman of Reforms and Resource Mobilisation Committee Ashfaq Yousaf Tola led an economic briefing session, which was organised by the LCCI, according to a press statement received by WealthPK.

Ashfaq Tola said the charter of economy was a dream that will soon be realised, and suggested that stakeholders should sit with the ICAP representatives, suggest solutions, bring up issues one by one, and work to resolve them. The ICAP President Ali Latif said political stability is important for economic stability and growth.

“Efforts must be made to bring together all stakeholders through sectoral consultative sessions to frame the charter of economy,” he said. The most important stakeholders are the political parties, as without their express commitment to implement the charter, it would only be a piece of paper, he added.

The ICAP president said sectoral policies of tariff and taxation would be developed to promote import substitution after obtaining comments from the Federal Board of Revenue (FBR) and the Ministry of Finance, and urged the political parties to develop and share their economic manifestos and engage in debates on important economic issues.

Credit: Independent News Pakistan-WealthPk