The Institute of Chartered Accountants of Pakistan (ICAP), in collaboration with the South Asian Federation of Accountants (SAFA), is proud to host the prestigious SAFA Conference on ‘South Asia’s Economic Outlook: Challenges & Opportunities’ on January 10 & 11, 2025, at the Pearl Continental Hotel, Karachi.
This landmark event will address critical economic issues and explore growth opportunities in the South Asian region. The conference will bring together leading policymakers, economic experts, and thought leaders to deliberate on the challenges shaping South Asia’s economy and its evolving role on the global stage.
The SAFA Conference embodies a collective vision to navigate challenges, unlock opportunities, and position South Asia as a beacon of growth and resilience in an ever-changing economic landscape.
This year’s conference holds special significance as we celebrate the appointment of Mr. Ashfaq Yousuf Tola, former President ICAP and Council Member, as President of the South Asian Federation of Accountants (SAFA). This remarkable achievement not only highlights ICAP’s growing influence in the global accountancy arena but also underscores its pivotal role in fostering regional collaboration and driving professional excellence. Mr. Tola’s leadership will undoubtedly inspire progress and innovation, paving the way for a stronger, more unified accountancy profession across South Asia.
Why this conference matters
For Pakistan, the conference comes at a pivotal moment. Like other countries in the region, Pakistan faces significant challenges, including global economic uncertainties, climate change impacts, and the need for robust governance. Yet, these challenges also present opportunities for transformative reforms.
Pakistan has embarked on a journey of economic stabilisation and sustainable growth. From fostering investment and promoting exports to leveraging human capital, the country is creating an ecosystem designed for resilience and prosperity. Key initiatives such as the Strategic Trade Policy Framework, energy diversification, and digital transformation underscore Pakistan’s commitment to building a strong, future-ready economy.
The conference’s sessions will delve into crucial aspects of South Asia’s economic future:
1. Policy reforms and governance: The need of the hour
Governance and policy reforms are critical to driving growth and transparency. For Pakistan, this involves addressing structural challenges, strengthening institutions, and fostering accountability. Reforms in tax policy, public financial management, and regulatory frameworks aim to create a business-friendly environment. Sharing insights and best practices at the conference can inspire effective governance strategies across the region.
2. Trade barriers: Real impediments to growth
Despite being home to nearly 25% of the world’s population, South Asia remains one of the least integrated regions in terms of trade, with intra-regional trade accounting for less than 5% of total trade volume. Pakistan is actively working to remove trade barriers—both tariff and non-tariff—through initiatives such as preferential trade agreements and improved border management. This session will focus on solutions to foster greater economic integration and unlock regional trade potential.
3. Renewable energy: Opportunities and innovations
Energy security is vital for economic stability. Pakistan, with its vast renewable energy potential—spanning solar, wind, and hydropower—has committed to diversifying its energy mix. Regional collaboration on innovations in renewable energy can help South Asia collectively reduce dependence on fossil fuels and pave the way for a sustainable future.
4. Export of accountancy services in the digital age: A real-life challenge
The accountancy profession is rapidly evolving due to technology and globalisation. Pakistan has a wealth of talent in this field, with initiatives like ICAP’s Digital Assurance programs aimed at enabling professionals to compete internationally. However, challenges such as adopting global standards, ensuring data security, and building networks remain. This session will explore strategies to overcome these challenges and position the region as a global leader in accountancy services.
The SAFA Conference 2025 stands as an exceptional platform for thought-provoking discussions, innovative solutions, and actionable insights to address South Asia’s economic challenges and opportunities. This prestigious event is proudly supported by esteemed sponsors whose contributions underscore their commitment to the region’s economic growth and resilience.
The Gold Sponsors include AKD Securities, AlBarka Bank, Fatima Group, Faysal Islamic Bank, Jubilee Life Insurance, Pakistan State Oil, State Life Insurance Corporation, Tapal Danedar and National Bank of Pakistan
The Silver Sponsors comprise industry leaders such as Bank Alfalah Ltd., Bank Islami Pvt. Ltd. Dawlance Group, Dewan Motors, Dubai Islamic Bank, HBL Asset Management, Hilton Pharma Ltd., Toyota, K-Electric, Meezan Bank, National Foods, Pak-Arab Refinery Limited, Sui Northern Gas Pipelines Limited, Getz Pharma, UBL, and Unilever.
Our Bronze Sponsors include prominent names such as ABL Funds, Al Habib Asset Management, Al Meezan Investment Management Limited, Advance Telecom, Attock Cement, Bank of Khyber, Candyland, Central Depository Company of Pakistan Limited, Dalda Foods Limited, EFU General, Pak-Qatar General Takaful Limited, Pakistan Petroleum Limited, Habib Metro, Sui Southern Gas Company Limited, Systems Limited, and Tufail Chemical Industries Ltd. Additionally, NBP Funds Ltd. is our Elite Sponsor, and Geo is our Media Partner.
The SAFA Conference 2025 stands as an exceptional platform for thought-provoking discussions, innovative solutions, and actionable insights to address South Asia’s economic challenges and opportunities.