Govt committed to reforms, transparency, sustainable growth: Ishaq Dar

Deputy Prime Minister and Foreign Minister Ishaq Dar on Friday said that the Institute of Cost and Management Accountants of Pakistan (ICMA), over the decades, had demonstrated an unwavering commitment to promoting professional standards, strengthening institutional capacity, and contributing to national development

LAHORE, (APP - UrduPoint / Pakistan Point News - 8th May, 2026) Deputy Prime Minister and Foreign Minister Ishaq Dar on Friday said that the Institute of Cost and Management Accountants of Pakistan (ICMA), over the decades, had demonstrated an unwavering commitment to promoting professional standards, strengthening institutional capacity, and contributing to national development.

He was addressing the SAFA International Future of Finance Summit 2026, titled “Reimagining Accountancy: Sustainability, Technology and the Future of Trust,” at a local hotel.

Dar said the world was living through a period of profound transformation, with the global economic landscape evolving at an unprecedented pace due to technological innovation, geopolitical shifts, and changing societal expectations. “In such a dynamic environment, the role of the accounting and finance profession has become more critical than ever before,” he said.

He noted that accounting professionals today were valued as strategic partners, advisors to leadership, and key contributors to organizational success. “They are deeply involved in decision-making processes, risk management, performance evaluation, and long-term strategic planning,” he added.

Dar said that in an era where transparency and accountability were paramount, the accounting profession served as a cornerstone of economic stability. “Investors, regulators, governments, and the public at large rely on accurate and reliable financial information to make informed decisions. This places a significant responsibility on accounting professionals, who must uphold the highest standards of integrity,” he remarked.

Referring to the theme of the conference, he described it as both timely and forward-looking, saying that as the world moved toward a digital and sustainable future, the accounting profession must evolve to meet emerging challenges and opportunities.

He said technologies such as artificial intelligence, blockchain, cloud computing, and data analytics were revolutionizing the generation and analysis of financial information. “Accountants must embrace these changes, enhance their skill sets, and adopt innovative approaches to remain relevant in a rapidly changing global environment,” he added.

Highlighting Pakistan’s economic potential, Dar said the country stood at a critical juncture and was striving to achieve sustainable economic growth, enhance fiscal discipline, and strengthen institutional frameworks.

“Strong financial governance is the backbone of any successful economy,” he said, adding that effective auditing and robust regulatory mechanisms were essential for building investor confidence and ensuring efficient allocation of resources.

At the regional level, he said, the South Asian Federation of Accountants (SAFA) had played a pivotal role in fostering cooperation among member bodies across the region.

“SAFA provides a platform for sharing knowledge, exchanging best practices, and enhancing the global standing of the accounting profession in South Asia,” he said.

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Dar stressed that economic progress was closely linked with good governance, financial discipline, and transparency.

He said the government, under the leadership of Prime Minister Shehbaz Sharif, remained committed to implementing reforms aimed at promoting accountability, enhancing efficiency, and ensuring sustainable growth. “Whether it is improving public financial management, strengthening tax systems and enforcement, or enhancing corporate governance, the government’s commitment is unwavering,” he added.

The deputy prime minister also highlighted the importance of empowering the youth of Pakistan and South Asia through quality education, ethical standards, and continuous learning. “The youth of Pakistan and South Asia represent our greatest asset, and it is imperative that we equip them with the knowledge, skills, and values required to succeed in a globalized economy,” he said.

Dar said the challenges facing the global economy including climate change, economic inequality, financial instability, and technological disruption — required innovative responses.

“By promoting transparency, ensuring accountability, and supporting evidence-based decision-making, accountants can contribute to building more resilient and sustainable economic systems,” he remarked.

Praising SAFA’s role, he said, “SAFA is doing a great job.”

Dar further said Pakistan, which he claimed was considered diplomatically isolated two years ago, had now emerged as a significant player in regional diplomacy. “Today, we are known as a peacemaker country,” he added.

Expressing hope for regional cooperation, he said he wished to see the South Asian Association for Regional Cooperation (SAARC) become effective so that the entire region could benefit economically.

Speaking about regional tensions, Dar said the closure of the Strait of Hormuz had created a severe energy crisis in the region and increased tensions between the United States and Iran. “We were virtually at the brink of World War Three,” he claimed.

He said Prime Minister Shehbaz Sharif, Pakistan’s Foreign Office under his supervision, and Field Marshal Syed Asim Munir had worked to encourage dialogue between the two sides. “The only way forward was to bring both parties to the negotiating table and initiate talks,” he said.

Dar claimed Pakistan had helped facilitate a ceasefire and subsequent extensions, expressing hope for a permanent ceasefire.

He expressed confidence that the discussions and deliberations held during the summit would generate valuable insights and contribute to the advancement of the accounting profession across the region.

Among others present at the event were ICMA President Azeem Hussain Siddiqui, ICMA Vice President Muhammad Yasin, SAFA President Mohammad Humayun Kabir, SAFA Advisor and Immediate Past President Ashfaq Yousuf Tola, ICMA Strategic board Chairman Ziaul Mustafa, and CA Sri Lanka CEO Lakmali Priyangika.