Govt asked to ensure transparent management of public finance

Author: By Razi Syed

KARACHI: The government is bound to create a business environment where transparent management of public finance could become possible.

Absence of such environment is not only conducive to the return on investment but on the circularity of debt and liquidity position that also put negative impact on corporate savings, financial experts opined.

It was assumed that the state of corporate governance should be improved in order to minimize the circularity debt problem which is really a governance issue. Government should focus on the issue of circularity debt from the governance point of view rather from the perspective of finance.

Development financing and economic governance remained a vital component of every economy, but our financial mangers are remained in a fix and are chained not to think over on the matter in decimal, experts asserted.

There is no concept of monitoring the system of corporate savings despite the fact that this is a fine interpreter of the macro level investment in the country.

The corporate savings indicate the expansion in business activities which may be an indicator of the trust and confidence of private sector. On the other hand it explains the financial health of corporate sector, which may provide the significant portion of tax revenue to the government for developing projects in public sector.

The bad corporate governance has deteriorated the investment activities at national level, which might damage the economy for a longer term.

Fazal Ahmad, an expert on finance from Houston, Agah Saiddain, expert on corporate financing and Ghulam Rabbani, a corporate and industrial sector member were of the view that reforms to the government sector, regarding policy formulation, regulatory realignments and implementation in the commercial and industrial sectors of the economy would stand of great importance.

They viewed the macro and micro economic policies should be made viable to all concerned in order to starting yielding dividend.

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