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K.R.S. Sastry President SAFA India, while overviewing SAFA activities said; SAFA has achieved tremendous achievements during the past 12 years. He emphasized the need of formulating strategies which should be flexible and workable so that the challenges of today's world could be faced. He also emphasized the need for establishing economic centers for education and developing latest skills in accountancy instead of raising institution only to train the accountants.

Soon kwai Choy, President CAPA from Malaysia recapitulated the history of CAPA's achievements and suggested that SAFA and CAPA could coordinate with each other to create sanctuary for the fraternity of accountants. He said that CAPA is working to develop and provide higher quality services and professional skill to accountants in the region.

He was of the opinion that Pakistan has highly developed infrastructure in the field of accountancy and in a position to guide and educate other countries of the region, particularly newly formed Central Asian States.

GILL Cox, Member CAPA Excom New Zealand, in his keynote address presented the detailed outline for raising the infrastructure for accountancy education. He was of the opinion that in the modern world, education of accountancy alone is not enough , future accountant should be wellversed in communication skill information technology , ethical conduct besides music, history, and literature only then the accountant of future will become a part of the global village.

After lunch Dr. A. R. Kamal enlightened the socio-economic impact of globalization and regionalization. Many other learned scholars in accountancy spoke on the occasion. Jamal-ud-din Ahmed advisor, SAFA,from Bangladesh concluded the discussion befor e a question and answer session.

Finally, Mian Mumtaz Abdullah, President,ICMA, Pakistan, concluded the seminar.-PPI/APP