Islamabad, October 21, 2022 (PPI-OT): President Dr. Arif Alvi has called for adopting digital technology, IT tools and innovations perpetually being made in all sectors, including the accounting and financial sector for ensuring accelerated economic development.
Addressing the Members’ Convocation of the Institute of Chartered Accountants of Pakistan in Islamabad, he called upon the decision-makers and institutions to set in place an efficient system to keep track of new and emerging technologies, evaluate the cost, predict usage and create management and support structure for their speedy adoption to remain abreast with the developed world.
He underlined the need for the government sector to adopt the “double-entry” system of accounting, and automation as the economies throughout the world are rapidly shifting to automation, high-speed financial modules and secure transaction systems.
The President said that Pakistan is in dire need of trained human resources and professionals, including Chartered Accountants, and it should increase the number of university graduates and professionals by adopting online and hybrid modes of learning in its education system. He said that as compared to the traditional education system, which is more reliant on brick-and-mortar infrastructure, hybrid and online education could help increase the number of graduates in a cost-effective manner.
He further said that two-year associate degree programmes should also be considered as the industry and market were in dire need of skilled professionals. Dr Arif Alvi also appreciated the Prime Minister’s DigiSkills programme, which has helped impart digital skills to millions of people from diverse academic backgrounds throughout Pakistan.
The President urged the members of the financial and accounting sector to provide leadership to help in the documentation of the economy, discourage theft and tax evasion, curb corruption and help the government to generate just and fair taxes and revenues.
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