Faisalabad, August 20, 2024 : The Institute of Chartered Accountants of Pakistan (ICAP) successfully organized a conference titled “INNOVATING THE FUTURE: Integrating Tech & Governance for Sustainable Economic Growth” at a local hotel.
In his opening remarks, Mr. Asad Feroze, Council Member and Chairman of the CPD Committee at ICAP, emphasized the importance of staying ahead in an increasingly complex business environment by continuously updating skills and knowledge.
As the chief guest, Mr. Musadaq Zulqarnain, Chairman of Interloop Limited & Interloop Holdings, highlighted the necessity of integrating technology with governance to foster innovation and drive sustainable growth. He stressed that this integration is vital for creating a prosperous and socially responsible future.
Mr. Farrukh Rehman, President ICAP, addressed the evolving global economic landscape and the unique position of chartered accountants in leading technology and governance integration. He underscored the importance of this approach for ensuring resilience and adaptability in rapidly changing environments.
In his keynote address on the “Art of Fusion of Technology & AI in Manufacturing & Textile Sector,” Mr. Sajjad Syed, Chairman of Excellence Delivered, discussed how technology and AI are revolutionizing the manufacturing and textile industries, offering unprecedented levels of efficiency and customization.
Mr. Faizan Irshad, Group Head of Audit Policy, Monitoring, and Quality Assurance at Allied Bank Limited, presented on Robotic Process Automation (RPA), describing it as a game-changer for the textile industry by enhancing efficiency and accuracy through automation.
The conference featured a dynamic panel discussion on “Industrial Tech Leap,” with insights from Mr. Ahsan Rasheed, Partner at Baker Tilly Mehmood Idrees Qamar; Mr. Faizan Irshad, Group Head of Audit Policy, Monitoring, and Quality Assurance at Allied Bank Limited; and Mr. Badar Khushnood, Chief Marketing Officer at S4Digital.
Moderated by Mr. Zeeshan Abid, Partner at Parker Russell A. J. S., the discussion explored the challenges and opportunities presented by rapid technological advancements in the industry.
Mr. Iftikhar Taj, Former President of ICAP, addressed the need for a paradigm shift in traditional family governance structures, highlighting the challenges such as generational transitions and succession planning. He called for more flexible governance models to address the complex dynamics of modern family businesses.
Dr. Christopher Whittle, Head of ESG & Risk Advisory at CBS Group, delivered a keynote on “Championing Sustainability in the Manufacturing Sector,” emphasizing that sustainability is now a strategic imperative for long-term success and not merely a regulatory requirement.
A panel on “Driving Sustainability: Strategies and Solutions for a Better Tomorrow” featured Mr. Aleem Zubair, Partner at A. F. Ferguson & Co; Dr. Fatima Khushnud, Executive Director of the Pakistan Environment Trust (PET); Mr. Fawad ul Hassan Zubairi, Corporate Controller at Nestlé; Mr. Nasir Muneer, Partner at Crowe Hussain Chaudhury; and Mr. Usman Ahsan, CFO of Anjum Textile Mills (Pvt) Ltd. Moderated by Mr. Aneel Peter, Chairman of the NRC at ICAP, the panel explored actionable strategies for embedding sustainability into organizational practices.
Dr. Kashif Z. Malik, Associate Professor & Graduate Program Director at Lahore University of Management Sciences, provided insights on “Navigating Economic Integration: Realities and Opportunities for Pakistan’s Export Sector,”.
Mr. Muhammad Awais, Council Member of ICAP, addressed “Sustainable Taxation: Balancing Revenue Generation with Business Growth,” discussing how taxation policies can support business growth while ensuring effective revenue generation.
The last dynamic panel discussion was on “Economic Growth and Harnessing Market Potential,” featuring Mr. Ashfaq Yousuf Tola, Vice President Safa & former President ICAP; Mr. Hamid Mukhtar, Director Sadaqat Limited, Member Board of Directors – Faisalabad Garments City Company; Mr. Qamar Aftab, CEO of Image Garments Pvt. Ltd.; Dr. Sajjad Arshad, Senior Vice President of FCCI; Mr. Sohail Khattak, CEO of Lyallpur Galleria; and Mr. Zia Alamdar, Past President of FCCI.
The discussion, moderated by Ms. Ammara S. Gondal, Member of the NRC at ICAP, focused on strategies for economic advancement and market opportunities.
Mr. Zeeshan Ijaz, Vice President ICAP, highlighted the crucial role of the accounting profession in shaping economic development, stressing the need for innovation and adherence to high standards of professionalism.
The conference provided a valuable platform for sharing insights and strategies, fostering collaboration and innovation across various sectors. The diverse perspectives and expert discussions underscored a collective commitment to advancing economic growth, sustainability, and professional excellence.
