Category: General

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Staying ahead of risks – the rise of the accountant as the ‘guardian of information 

Islamabad, July 08, 2021 (PPI-OT):More collaboration, more collective action needed to tackle the risks ahead an unmissable era is dawning for the accountancy profession and its role in effective risk management as a result of the global pandemic, environmental sustainability and economic turbulence, says ACCA (the Association of Chartered Certified Accountants). In its new report Rethinking risk for the future, ACCA asserts that as guardians of information, accountants can help organisations not only detect and better understand the emerging risks and opportunities facing them, but also cultivate the mind-sets needed to think more long-term.

Capturing the views of its global members, including members in Pakistan, the report also showcases their vital roles in building operational resilience through Enterprise Risk Management (ERM), financial reporting, and predictive data analysis. The report explains that while COVID-19 is the biggest crisis in a generation, business and society also face huge risks from rapid climate change – perhaps the biggest risk of all. Risk management has therefore been forced to centre stage like never before.

Accountants now have an unmissable opportunity to reassess how they can add more value in a post-Covid world where a myriad of pressing environmental, social and economic risks are prevalent. For the report, Pakistan respondents were asked about what they believed to be the biggest risks to their organisations over the next two years, with 24% saying industry disruption and 22% international trade. They were also asked what risk activity their organisation would most likely upgrade in 2021, with 51% saying risk culture for new working conditions, followed by 20% for operational resilience.

Rachael Johnson, report author and ACCA’s head of risk management and corporate governance says: ‘What’s clear from our engagement with ACCA members is the need for accountancy professionals to truly understand the strategic and business risks that their organisations face in the short, medium and long-term. In this way, through providing better informed decision making, they can help organisations maintain operational resilience and become more sustainable in today’s fast-changing, interconnected environment.’

Helen Brand, ACCA’s chief executive adds: ‘Because of COVID-19, we have all learned new and vital lessons about effective risk management over the last year, so that disruption preparedness is now top of organisations; priorities. The challenge is about how this readiness is sustained. Professional accountants are central to all this – that’s why now’s the time for the profession to show in real ways how it helps organisations change behaviour, rethink risk, and how accountants can help set the tone from the very top.’

Rethinking risk for the future concludes that risk can no longer be managed in isolation, with Sajjeed Aslam, head of ACCA Pakistan ending: ‘Accountants, given their skills and professional duties, are in a privileged position to optimise their storytelling skills in new ways by creating more dynamic metrics and reporting methodologies. Accountants should be taking on a more advisory role in explaining the facts and possibilities behind the numbers, breaking them down and putting them into context for their organisations.

‘This is an unmissable opportunity for accountancy to encourage more collaboration and collective action on environmental, social and governance matters by working with public policymakers and partnering with leaders to help grasp how digitalisation and new technologies can help avoid harm to people and the planet.’ The report includes expert insights from several ACCA members in Pakistan including: Rizwan Ikram, chief risk officer at Mobilink Microfinance Bank, who just recently moved to Telenor Microfinance Bank Ltd, Pakistan in Islamabad in the same role as CRO  Owais Ali, operational and liquidity risk analyst at Al Baraka Bank Pakistan Ltd., Karachi

For more information, contact:
Association of Chartered Certified Accountants Pakistan (ACCA)
Office No. 5, 2nd Floor, SNC Centre,
Fazal-ul-Haq Road, Blue Area, Islamabad, Pakistan
Tel: +92-51-111-222275
Fax: +92-51-2876605
Email: info@pk.accaglobal.com
Website: www.pakistan.accaglobal.com

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IRD’S governing council meets

Islamabad, July 08, 2021 (PPI-OT):The annual meeting of the Governing Council of the Iqbal International Institute for Research and Dialogue (IRD), IIUI was held here at Faisal Masjid Campus of the university. Professor Dr. Masoom Yasinzai, Rector of the university and Chairman of the IRD’s governing council, chaired the meeting which was also attended by IIUI President, Dr. Hathal Homoud Al-Otaibi. Other members included Dr. Muhammad Ali, Vice Chancellor Quaid e Azam University, Islamabad, Rafiq Tahir , Joint Educational Advisor, Ministry of Federal Education and Professional training, Prof. Dr. Zafar Nawaz Jaspal, School of Politics and IR, Quaid e Azam University, Mr. Saleem Safi, Eminent scholar and journalist and Dr. Husnul Amin, Executive Director, IRD.

For more information, contact:
Public Relations,
International Islamic University Islamabad (IIUI)
Room No.118, Admin Block, New Campus,
H-10 Sector, Islamabad, Pakistan
Tel: +92-51-9019249
Fax: +92-51-9257909
Email: iiuipublicrelations@iiu.edu.pk
Website: www.iiu.edu.pk

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17% of Pakistani households that have children of school going age report that no child attends school; 54% report that all children attend school: Gallup Big Data Analytics on PSLM data

Islamabad, July 08, 2021 (PPI-OT):This press release is part of a special Gallup Pakistan Data Analytics series that aims to foster an empirical understanding of the education scenario of Pakistan based on data generated by the PSLM survey.

PSLM (Pakistan Social and Living Standards Measurement) is a yearly survey conducted by the Pakistan Bureau of Statistics to gather data from provincial and district level to assist the government of Pakistan. It focuses on multiple social and economic factors. Gallup Pakistan Data Analytics team has worked extensively on this data and this series of press releases are our attempt to publicize the great efforts done by hundreds of office bearers of Bureau of Statistics who have travelled far and wide to collect this data.

This press release aims to assess the education scenario in terms of households reporting whether all, some or none of the children attend school

KEY FINDINGS:

73% Pakistani households (24.3 million) have children aged between 5 and 17

17% of Pakistani households with children of school-going age report that no child from their household is attending school

29% households report that some children from their household attend school

54% Pakistani households that have children of school going age report that all children from their household are going to school

Islamabad, Rawalpindi, Gujranwala, Lahore, and Karachi have the highest percentage of households where all children are attending school

Zhob, Sibbi, Kalat, Bannu and Nasirabad are the bottom 5 divisions where the lowest percentage of households report that all children go to school

Compared to rural households, 22% more urban households report that all children go to school.

Rural Baluchistan and Rural Sindh are lagging behind the most in this respect

Punjab has the highest number of households [with children of ages 5-17] that report that all children attend school.

For more information, contact:
Head Office,
Gallup Pakistan
Islamabad, Pakistan
Tel: +92-51-8445080
Email: isb@gallup.com.pk, caf@gallup.com.pk
Website: www.gallup.com.pk

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People are looking up to higher judiciary for justice in Model Town case: PAT

Islamabad, July 07, 2021 (PPI-OT):PAT Secretary General Khurram Nawaz Gandapur has congratulated Justice Muhammad Amir Bhatti on taking the oath of office as the Chief Justice of Lahore High Court. He said that the CJ LHC understands the intricacies of the justice system in addition to having an excellent background in law. He said that the judiciary is the ray of hope for the oppressed and poor after Allah Almighty. He said that the government institutions commit excesses and if the people can find redressal for the wrongs done to them, they will not have to knock on the doors of the courts. He said that the police became an instrument in the fulfillment of the political agenda of the previous rulers in the Model Town tragedy.

PAT Secretary General said that if the subordinate institutions of the government work in accordance with their legal mandate, no one can abuse them for ulterior political purposes. He said the first stage of justice was the registration of FIR after the Model Town tragedy and added that the police brazenly refused to register the FIR of the oppressed people. The second stage, he said, pertained to impartial investigation but the police again did not play its due legal role in the conduct of fair, transparent and neutral probe. He said that the third stage was prosecution where the oppressors were aided legally at the cost of the poor and wronged people.

Khurram Nawaz Gandapur said that we expect that the new Chief Justice LHC will play his part in ensuring the provision of justice to the families of martyrs as well as plugging the legal loopholes in the justice system. He said that the honorable Chief Justice will hold the privileged office until March 2024, adding that this duration is enough for the provision of justice. He said that our prayer to the CJ LHC is to summon the file of Model Town case and order necessary instructions in light of the directions of honorable Supreme Court of Pakistan.

For more information, contact:
Public Relations,
Pakistan Telecommunication Authority (PTA)
PTA Headquarters, Sector F- 5/1, Islamabad – 44000, Pakistan
Tel: +92-51-2878152
Fax: +92-51- 9219921
Email: pr@pta.gov.pk
Website: https://www.pta.gov.pk

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4 in 10 Pakistanis say that they have watched the drama Ertugrul: Gallup and Gilani Pakistan

Islamabad, July 07, 2021 (PPI-OT):According to a survey conducted by Gallup and Gilani Pakistan, 42% Pakistanis have seen the drama ‘Ertugrul.’

A nationally representative sample of adult men and women from across the four provinces was asked the following question, “Have you ever seen Ertugrul Drama?” In response to this question, 42% said ‘Yes’ and 57% said ‘No.’ 1% did not know or did not respond

Question: “Have you ever seen Ertugrul Drama?”

For more information, contact:
Head Office,
Gallup Pakistan
Islamabad, Pakistan
Tel: +92-51-8445080
Email: isb@gallup.com.pk, caf@gallup.com.pk
Website: www.gallup.com.pk

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4 in 10 Pakistanis say that inflation is the most important problem in the country: Gallup and Gilani Pakistan

Islamabad, July 06, 2021 (PPI-OT):According to a survey conducted by Gallup and Gilani Pakistan, 39% of Pakistanis cite inflation as the most important problem in the country.

A nationally representative sample of adult men and women from across the four provinces was asked the following question, “What do you think is the most important problem in Pakistan at the moment?” In response to this question, 39% said ‘increase in inflation’, 19% said ‘joblessness’ while 14% said ‘coronavirus’, 10% said ‘increase in poverty’, 8% said ‘irregularities, corruption, adulteration and nepotism’ 1% said ‘electricity load shedding’, 4% gave other responses while 5% did not know or did not respond.

Question: “What do you think is the most important problem in Pakistan at the moment?”

For more information, contact:
Head Office,
Gallup Pakistan
Islamabad, Pakistan
Tel: +92-51-8445080
Email: isb@gallup.com.pk, caf@gallup.com.pk
Website: www.gallup.com.pk