Govt committed to ensuring financial discipline in development activities: PM

Prime Minister Sheikh Hasina Sunday categorically said her government would take allout measures to ensure proper discipline in expenditure of the government fund, reports BSS. "Proper accountability is a must in the management of financial administration and we are committed to ensuring financial discipline in our development activities," she said while inaugurating an international conference of chartered accountants in the city. The Prime Minister added that she had never tolerated the misuse of people's money in the past and would not accept it in the future. The Institute of Chartered Accountants of Bangladesh (ICAB) has arranged the five-day conference at the Pan Pacific Sonargaon Hotel. Finance Minister Abul Maal Abdul Muhith and ICAB President Parveen Mahmud and Conference Organising Committee Chairman Sheikh A Hafiz also spoke at the function. President of South Asian Federation of Accountants AN Rahman delivered the keynote speech, while Commerce Minister Muhammad Faruk Khan was present on the dais. The Prime Minister said a robust and dynamic economy is essential for making the democracy a success and it is necessary to work with more dedication and sincerity by all professionals to achieve this goal. "It is my firm belief that a proper reform in banking sector, tax administration, foreign investment and capital market can increase our GDP to a great extent," she said. Sheikh Hasina said her government's main aim is to put the national economy on a firm footing and eradicate poverty. "The poverty rate has been downed to 31.5 percent from 40 percent owing to our actions and we want to bring down the rate below 15 percent by 2021." Mentioning that there is a close link between the economy and accounting and auditing profession, she said the contribution of the professionals of this profession is immense in ensuring transparency, accountability and proper management of economy. "The income, expenditure, liability and accounts of wealth of an institution are reflected through your financial reports. Therefore, you would have to remain conscious so that people do not lose their trust on you," she said. She said the role of the chartered accountants in infusing dynamism and proper management of capital market is crucial. "I urge you all to look into the matter."