KARACHI: President Dr Arif Alvi has urged finance professionals to fulfil their obligations towards society and foster ethics-based businesses.

Addressing the awards ceremony of Chartered Financial Analysts (CFAs) on Friday, he said the goods sold by Pakistani businessmen should be known for their quality and as products of integrity.

“If brand Pakistan was built on sincerity, honesty and integrity, no power in the world could stop our nation from rising,” a press release quoted him as saying.

He expressed concern about the accumulation of capital in the hands of a minority and the uneven distribution of wealth. He cited the example of East India Company, which stole resources of India and resorted to violence, loot and plunder that caused deaths and famine.

He said the businesses should keep in mind that they had to take care of the poor and vulnerable sections of society.”

Pakistan was plagued by the menace of corruption,” he said, adding that people could convert their hard work into capital and become sleeping partners by signing contracts but the disproportionate accumulation of capital should be avoided.

He said the companies had a responsibility towards their stockholders and workers. Dr Alvi was of the view that it had become difficult to take corrupt persons to task because of the distortion in the application of laws.

Published in Dawn, September 19th, 2021