Research & Publications

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Research Booklets/Journal

Pakistan's Cement Sector Growth, Performance, and Company to Company Analysis 2018-2024

Book Review
This book, authored by Mr. Muhammad Bashir Khan, FCMA, presents a detailed yet easy-to-understand analysis of Pakistan’s cement industry. It reviews the performance of individual companies in terms of production capacity, sales, profitability, per capita consumption, and human resource deployment, using audited financial statements and market data from the Pakistan Stock Exchange. The book also explores how diversification into other businesses has impacted overall profitability. Complex data is presented through clear chapters, graphs, and tables, making it a useful resource for policymakers, investors, industry professionals, and students alike.

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Indigenous Fertilizer Sector Competitive Dynamics and Diversification

Book Review
This book written by Mr. Muhammad Bashir Khan, FCMA offers a detailed analysis of the fertilizer industry in Pakistan, focusing on financial data from fertilizer manufacturing companies listed on the Pakistan Stock Exchange for the period 2017-2023. The document includes various graphs and tables that illustrate industry growth, performance, and company-to-company comparisons. Key information such as capacity, expansions, utilization rates, sales, profitability, dividends, and workforce statistics are presented clearly. Additionally, it covers the diversification efforts of fertilizer companies and their impact on earnings. This resource provides stakeholders with a quick and thorough understanding of the industry's dynamics.

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ICMA Roadmap for Developing a Progressive Industrial Policy

Book Review
This book prepared by the ICMA Research and Publications Department provides a comprehensive analysis of Pakistan’s industrial policy framework, highlighting both the key challenges and untapped opportunities within the industrial sector. As the government prepares to announce a new industrial policy, this book offers expert recommendations and a strategic 10-year action plan for the Ministry of Industries and Production to guide the future development of the industrial sector in Pakistan. It presents detailed analyses, practical solutions, and global insights, aimed at policymakers seeking to understand and shape the country’s industrial transformation.

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ICMA's Economic Vision and Strategy - Building a Brighter Future for Pakistan

Book Review
ICMA’s Economic Vision and Strategy book outlines a comprehensive plan to steer Pakistan towards resilience and prosperity. It addresses economic challenges with strategies including reducing agricultural import dependence, enhancing infrastructure through public-private partnerships, and fostering industrial growth with export incentives. The strategy highlights energy reforms, investment in renewable energy, and improvements in digital and transportation infrastructure. It also focuses on fiscal discipline, transparency, combating corruption, attracting foreign investment, and promoting gender equality to build a robust and sustainable economy.

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ICMA Book on 'Competitive Landscape of Indigenous Cement Industry'

Book Review
This book provides an insightful and comprehensive analysis of the cement industry's growth and performance. Through detailed graphs and tables, it effectively illustrates the industry's trajectory and key metrics. Despite addressing significant challenges like COVID-19 and economic uncertainties, the book highlights the industry's resilience and increased production capacity. It is a valuable resource for professionals, academics, and enthusiasts, offering both a detailed reference and an optimistic outlook on the cement industry's future.

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ICMA Book on Oil and Gas Sector in Pakistan - Current Status, Challenges and Way Forward

Book Review
This book offers a comprehensive overview of the Oil and Gas sector, focusing on the current status and challenges of the industry, as well as future prospects. It includes distinct chapters covering oil and gas production, consumption, supply chain dynamics, trade dynamics, pricing structures, and policy recommendations. The insights presented in this book hold significant value, benefiting not only industry professionals but also policy makers who play a crucial role in shaping the trajectory of our nation's industrial development.

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Impact of COVID-19 on Automotive and Auto parts Industry in Pakistan

Book Review
This booklet provides an overview of the Automotive and Auto parts Industry in Pakistan; regulatory environment and tax structure of the industry; auto vendor industry and localization; new entrants in the auto sector; impact of COVID-19 on the production and sales of vehicles and other implications of the pandemic on the industry and finally the way forward and recommendations for the consideration of policymakers.

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Impact of COVID-19 on Housing and Construction Industry in Pakistan

Book Review
This booklet provides an overview of the Housing and Construction Industry in Pakistan, regulatory environment and tax structure of the industry; Incentive Package, including exemptions and reliefs granted for the Construction industry; Naya Pakistan Housing Scheme; impact of COVID-19 on housing and construction projects, and finally the way forward and recommendations for the consideration of the policymakers.

Future of Competitive Electricity Market in Pakistan

Book Review
Pakistan Power Sector has been evolved ever since its formation and has remarkable achievements over the decades, however major restructuring started in the mid of 1990s, with aim of restructuring was to make power sector a self-sustaining business with limited/ no intervention by the Government, has not produced desired outcome. The main reason behind the failure is the piecemeal approach towards the solution without clear vision of the ultimate objective.

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Proposed Strategy for Economic and Industrial Growth of Pakistan

Book Review
This book provides a brief assessment of the current major issues facing the national economy and the industrial sector and their possible solutions. The Book further proposes a three-pronged strategy for achieving sustained economic growth, which includes accelerating industrialization process; encouraging SME development and promoting savings and capital formation. The main objective of the book is to provide a useful reference to the government, policy makers and the trade and industry about the current economic scenario. The book also includes taxations proposals for Federal Budget 2013-14, and ICMA International's suggestions for 100 days plan of the new government.

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Synopsis of Sugar Industry

Book Review
The book narrates the complete production process being used by the sugar mills – from harvesting to sugarcane production; and from cane crushing to production of sugar. The book presents useful facts and figures with regard to sugar production in the world and Pakistan. It also provides a ‘SWOT Analysis’ of the sugar industry in Pakistan as well as identifies the Key Performance Indicators (KPIs), in addition to the Integrated Computerized Accounting System used by the Sugar Mills for their Accounting transactions.

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Costing and Tariff Setting in Power Sector of Pakistan

Book Review
This publication covers the tariff setting being done at different stages of complete supply chain of electric power from acquisition of energy sources to generation of electricity, then its transmission and distribution to end consumers in pre-regulatory regime and post regulatory regime. In parallel, it explains costing and pricing mechanism at different levels as determined by the Regulator. The booklet also gives a useful insight on the circular debt issue faced by the power sector and its possible solution.

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Mines and Mineral Development

Book Review
The book covers the technical aspects of prospecting, development and operations of mineral in Pakistan with special reference to underground coal mining. The book also covers the physical and financial aspects on procurement of material/ machinery; engagement of manpower and payment of bills of material/ machinery and wages to miners/ other workers and supervisory personnel. Furthermore, the returns and notices on production, accidents as well as the annual accounts to be submitted to the concerned government authorities have also been explained in a lucid manner .

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A Precise Guide to Construction Project Management and Project Accounting

Book Review
The purpose and scope of this booklet is to provide guideline on construction project management and project accounting. All material included in this booklet is based on information gathered from sources, believed to be reliable. Although, due care and diligence has been taken to compile this document, we do not make any representation, warranty or assurance, nor assert that all the information provided therein is absolutely accurate or complete.

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Shareholding Pattern Of Corporate Sector in Pakistan

An Insight on dominance of Business Groups and Families over Corporate ownership structure
Book Review
This brief research provides an insight into the dominance of business groups and family-run businesses over the corporate sector in Pakistan. The study examines the ownership structures of forty-four sample companies from manufacturing and services sectors. The manufacturing segment covers seven sectors viz. sugar, cement, textile, refinery, fertilizer, pharmaceuticals and automobiles, whereas the services sector include banks and insurance companies. ICMA study concludes that around 64 percent (32 companies) of the 44 selected companies are controlled by the prominent business groups and families of Pakistan.

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Capacity Utilization of Sugar Mills in SAARC Countries

Book Review
It is a very comprehensive research study on the capacity utilization of sugar mills in the SAARC countries viz. Pakistan, India, Sri Lanka and Nepal. The booklet focuses mainly on detailed review of the size and scale of sugar mills in Pakistan and India, their installed capacities and the capacity utilization achieved. The booklet also providess a comparative review of India and Pakistan in the areas of sugarcane cultivation, yield, production, sugar production and recovery ratio.

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ICMA International Research Journal

Book Review

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Glossary of Management Accounting Terms

Book Review
This concise dictionary contains most important and common terms and definitions, currently in use in Cost and Management accounting. It attempts to provide a convenient reference source, especially for the qualified members and students of our Institute, and generally for all other persons who wish to have better understanding of management accounting subject.

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History of Management Accounting Profession in Pakistan

Book Review
This book has been published to pay lasting homage and glowing tributes to the founders of our Institute. The Institute has proudly recapitulated and narrated the story of its birth and gradual development in shape of this book. This book traces the genesis of the profession of Management Accounting in Pakistan, with the founding of the Institute in 1951, and its upbringing over a span of over last five decades. The institutional history covered in the book essentially spans over 55 years from 1951 to 2006. The book is divided into 13 chapters, each describing a different facet of the Institute, not in isolation from each other but one logically leading to the other in naturally flowing progression. Together, they unfold the story of the Institute which, in essence, is the history of the profession of management accounting in Pakistan.

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Cost Audit Handbook (Second Revised Edition)

Book Review
It gives me great pleasure to inform the members that after prolonged efforts, the Institute has been able to get the orders for Cost Audit enforced in Cement, Vegetable Ghee/Cooking Oil and Sugar Industries through Companies (Audit of Cost Accounts) Rules 1998. Practising-members of the Institute have become entitled to accept Cost Audit business alongwith Chartered Accountants. During the last two years, our members have taken up Cost Audit of Cement and Vegetable Ghee/Cooking Oil Companies and can now take up Cost Audit of Sugar Companies also.

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Cost Audit Handbook (Third Revised Edition)

Book Review
The remarkable features of the third revised edition of Cost Audit Handbook, is the inclusion of a separate Chapter on "Manufacturing Process of Vegetable Ghee / Cooking Oil, Cement and Sugar industries' and glossary of technical terms. Additional material on Cost Audit Program, checklists and manufacturing flow charts of these three industries, have been included. Furthermore, to keep our members on board, this edition also includes a separate chapter on the new Cost Audit Sectors.

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Cost Audit – Benefits to Industry

Book Review
Financial Audit merely focuses on compliance to the Law and the reporting needs of 'Shareholders' of the company, who are wealth creators of the business. It does not evaluate a company's performance with regard to cost of production. It also does not speak about the internal strength, efficiency, and sustenance aspect of the business. Cost Audit focuses on performance evaluation and the stakeholders at large. It helps improve performance and production efficiencies by detecting deviations from standards, and reasons of visible and invisible losses, inefficiencies, wastages etc

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Study on Status of Research in SAFA Member Bodies

Book Review

Recognizing the importance of research as one of the core elements for the development of any profession, South Asian Federation of Accountants (SAFA) had commissioned a study to find out the status of Research in its member bodies. The Institute of Cost and Management Accountants of Pakistan was assigned this task in the SAFA Assembly held in January, 2004.

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Alternate Dispute Resolution

Book Review

This booklet containing thought-provoking views, expert comments and worth-sharing ideas on the relatively new but highly relevant concept of Alternate Dispute Resolution (ADR). ADR mechanism has been introduced in Pakistan only recently for resolving tax - related disputes. Like most new initiatives, the introduction of this system too has given rise to a number of searching questions in the minds of taxpayers and professionals.

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