KARACHI, May 24: The Council of the Institute of Chartered Accountants of Pakistan has decided to form a sub-committee, comprising the ICAP President, Syed Shabbar Zaidi, and other council members to prepare a report for establishment of a state-of-the-art university of finance and accounting.

A formal launching will be made at the time of visit of President Pervez Musharraf to the institute for which a date is yet to be decided.

President Musharraf in his meeting with ICAP President Shabbar Zaidi, and Graham Ward, President IFAC, had emphasized the need for promoting professional accounting education in the country. He asked the institute to play a major role in this regard including establishment of a university for the purpose.

On the President’s directive, the HEC in its letter had asked the ICAP to submit a formal proposal for establishment of the university.—PPI