ISLAMABAD, JAN 10 /DNA/ – Ashfaq Yousuf Tola, President SAFA, Mr. Farrukh Rehman, President ICAP, council members ICAP, members of the esteemed South Asian Federation of Accountants (SAFA), Prof. colleagues, business leaders, Ladies and Gentlemen AOA,
2. I am extremely delighted and congratulate ICAP and Ashfaq for assuming the Presidency of SAFA. This is not only an honor for our Country but also a testament of the leadership of Ashfaq and his services to the profession.
3. It is an honor to address this prestigious gathering at the SAFA Conference 2025. Today, as we convene under the theme, “South Asia’s Economic Outlook: Challenges & Opportunities”, we bring together some of the finest minds in the region to deliberate on pressing issues that shape not just South Asia’s economy but also its role on the global stage.
4.This conference is a reflection of our collective will to navigate challenges, explore opportunities, and establish South Asia as a beacon of growth and resilience in an ever-evolving economic landscape.
5.From Pakistan’s perspective, this conference comes at a critical juncture. Our economy, like many others in the region, has faced formidable challenges-ranging from global economic uncertainties, the impact of climate change, and the need for robust governance to navigate these turbulent times. Yet, it is also a moment of opportunity.
6.Pakistan has embarked on a journey of reforms and transformation, aimed at stabilizing our economy and fostering sustainable growth. We are focused on creating an ecosystem that supports investment, promotes exports, and harnesses the potential of our human capital. Our Strategic Trade Policy Framework, energy diversification initiatives, and digital transformation agenda are just a few examples of our commitment to building a resilient economy.
7.Each session of this conference underscores a critical aspect of South Asia’s economic future, and I wish to share my thoughts on their significance, especially from Pakistan’s perspective:
i. Policy Reforms and Governance: The Need of the Hour- In today’s world, governance and policy reforms are no longer optional, they are imperative. For Pakistan, this means addressing structural bottlenecks, strengthening institutions, and ensuring transparency and accountability at every level. Our ongoing reforms in tax policy, public financial management, and regulatory frameworks aim to create an environment conducive to business and investment. I believe that sharing insights and best practices at this forum will help us chart a path toward more effective governance across the region.
ii. Trade Barriers: Real Impediments to Growth- South Asia is one of the least integrated regions in terms of trade. Despite being home to nearly 25% of the world’s population, intra-regional trade remains less than 5% of our total trade volume. In Pakistan, we recognize the need to address trade barriers-both tariff and non-tariff-to unlock our export potential. Initiatives such as preferential trade agreements and reforms in logistics and border management are steps in this direction. Collaborative discussions here can pave the way for a more unified and prosperous South Asia.
iii. Renewable Energy: A Deep Dive into Opportunities and Innovations-
Energy security is vital for economic stability. In Pakistan, the energy crisis has long been a challenge, but it is also an area where immense opportunity lies. With one of the largest untapped renewable energy potentials in the world-solar, wind, and hydropower-we are committed to diversifying our energy mix. The regional sharing of innovations and expertise in renewable energy can help South Asia collectively reduce dependency on fossil fuels and embrace a greener, sustainable future.
iv. Export of Accountancy Services in the Digital Age: A Real-Life Challenge- The accountancy profession is evolving rapidly, driven by advancements in technology and globalization. Pakistan has a wealth of talent in this field, and initiatives such as ICAP’s Digital Assurance program and the export of accountancy services are aligned with this shift. However, challenges such as adapting to international standards, ensuring data security, and building global networks persist. This session provides a valuable platform to discuss solutions that will enable our professionals to thrive in the digital economy.
Dear participants,
8.The challenges we face today are not confined to national borders. Whether it is economic recovery, climate change, or technological disruption, these are global phenomena that demand regional collaboration. South Asia, with its shared history, cultural ties, and economic interdependence, is uniquely positioned to drive collective solutions.
9.This conference underscores the importance of dialogue and shared action. It is a platform to exchange ideas, build partnerships, and foster innovation. As a region, we have the potential to not only overcome our challenges but also to set an example for the world.
10.In conclusion, I commend SAFA, ICAP, and all participants for organizing this impactful event. Your efforts demonstrate the power of collaboration and the unwavering belief in the potential of South Asia.
11. As we move forward, let us remember that our strength lies in unity, and our future depends on the decisions we make today. I am confident that the outcomes of this conference will serve as a cornerstone for a stronger, more prosperous, and resilient South Asia.
12.Thank you, and I wish you a productive and insightful conference.
