ICAP Suggest Incentives to Push GDP Growth to 6%
The Institute of Chartered Accountants of Pakistan (ICAP) has proposed the Ministry of Finance to offer similar incentives to the manufacturing sector as have been given to the construction sector in the upcoming budget (2021-22).
The ICAP has submitted ‘model federal budget 2021-22’ to the Ministry of Finance based on financial priorities of the nation.
The document revealed that Large Scale Manufacturing (LSM) has long remained under a constrained economic environment under the shadow of exchange rate depreciation and restrictive monetary and fiscal policies. Costs of industrial inputs, frequent and repetitive implementations of stabilization and revenue measures, and lower domestic demand have been the key factors behind this lackluster performance of LSM.
Govt committed for growth oriented budget 2021-22: Tarin
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The finance minister lauded the professional insight of ICAP members and their valuable contribution
ISLAMABAD (Dunya News) – Federal Minister for Finance and Revenue, Shaukat Tarin on Thursday reiterated the government’s commitment to unveil a growth-oriented federal budget (2021-22).
Talking to Vice President of Institute of Chartered Accountants of Pakistan (ICAP) Ashfaq Tola, who called on him here, the finance minister welcomed the ICAP vice president and discussed the proposals by the Institute’s team for the economic growth and development of the country.
Special Assistant to PM Dr Waqar Masood Khan and Vice President Ali Latif were also present during the meeting, said a statement.
SECP Constitutes Joint Committee For Reviewing Existing Audit Framework propakistani.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from propakistani.pk Daily Mail and Mail on Sunday newspapers.
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April 14, 2021
ISLAMABAD: The audit firm that gave Jehangir Khan Tareen’s JDW Sugar Mills Limited a clean bill of health year-on-year remains unaccounted for though a reference was filed against it but never followed through – apparently due to conflicting interests. The JDW Sugar Mills, together with 14 other mills, is currently facing a probe by the Federal Investigation Agency.
The Sugar Inquiry Commission in its final report submitted to the federal cabinet on May 21, 2020, accused the auditors of neither obtaining appropriate assurance that the financial reports were free from material misstatement nor ensuring that the accounting treatment was appropriately applied. The report further noted that the auditors also didn’t address any deficiencies detected so that the investors and other users of financial reports were not misled with regard to the quality of information they contained.
Who will audit the auditors? thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.