Launch of the Institute of Risk Management (IRM) Pakistan Regional Group and Risk Management Conference 2020

The Chief Guest, President of the Islamic Republic of Pakistan, Dr. Arif-ur-Rehman Alvi, opened the Launch of the Institute of Risk Management’s Regional Group in Pakistan on 10th March 2020 at the Serena Hotel, Islamabad.

The IRM Pakistan Regional Group is the first formal risk management group at a national level in Pakistan. The group aims to encourage adoption of structured risk management processes and practices within Pakistani organisations, with IRM supporting the group in providing knowledge and professional development to its members via training and qualifications, events and networking.

Launch of the Institute of Risk Management (IRM) Pakistan Regional Group and Risk Management Conference 2020

The President of the Islamic Republic of Pakistan was the guest of honour, and the audience included key dignitaries, ambassadors, academics, risk management professionals and distinguished business leaders from diverse sectors of Pakistan.

Group Chair, Ms Sohab Mushtaq, IRMCert, Head of ERM at Mari Petroleum welcomed guests to the launch and Lt Gen (R) Ishfaq Nadeem Ahmad, MD Mari Petroleum spoke about the importance of risk management and how it aids in both protecting and creating value.

There were also video messages from Iain Wright, CFIRM, IRM Chair and Rahat Latif, MIRM, Director, IRM and Chair of the IRM Interest Groups Committee. They lauded the creation of IRM Pakistan Regional Group, and also spoke about the Institute’s mission and benefits the Pakistani economy can derive from the creation of the Regional Group in Pakistan.

Rahat Latif said:

“IRM is the leading global risk management educator and supports organisations around the world in delivering their strategies, meeting their objectives, protecting their assets and making good decisions.

We are delighted that a regional group has been formed in Pakistan as this reflects the rising maturity of organisations in the region and the dynamism of the Pakistani economy as it rises to meet global standards. We look forward to supporting professionals across the country in developing their risk management skills and competence”.

After that, the President of Pakistan formally launched the IRM Pakistan Regional Group by unveiling a plaque on stage. He then addressed the audience and stressed the importance of effective risk management and good corporate governance in Pakistan.

He said:

“It is important to understand that good governance and effective risk management is not only essential and beneficial for the private sector entities, it is equally important for the public sector as well. The government and all the public office holders have the responsibility and obligation of always upholding compliance with all rules, regulations and governance standard at all times, and following best risk management practices”.

We have always supported and encouraged the adoption of best governance, risk management and compliance practices in all government offices to ensure a corruption-free Pakistan.”

The Launch was followed by the IRM Pakistan Regional Group’s first Risk Management Conference. Discussions focused on the trends in risk management, both globally and locally, and stressed the importance of integrating risk management with strategic decision making as well as ensuring resilience through better risk management.

The Launch of the Group was kindly sponsored by Mari Petroleum Company Limited.