From the Managing Partner's Desk

Enlightened and progressive governments are often measured by their ability to face criticism whether from its opposition members, the press or its subjects. Understanding, tolerance and willingness to accept and act on its shortcomings indicates mature, progressive and effective governance. The Emirate of Dubai has once again demonstrated all these by calling for an open and frank dialogue between the Government and the private sector, to listen to the issues facing the private sector and as a forum to find solutions together. Seven industry segments covering manufacturing, trading, financial services, construction, real estate, other services and tourism have been identified for this interaction. This initiative will enhance communication between the Government and private enterprise and will also lead to an increased understanding of the private sector by the Government and vice versa. If all the points raised at these meetings are acted upon, the exchange of issues should provide a sound platform from which Dubai can continue to grow in the global economy. We herald this bold initiative in this issue of PKF Update.

Dubai's neighbouring emirate Sharjah has made advancements in trade and business in the last couple of years, supplementing its long -standing status as the cultural capital of the UAE. Eng. Rashid Al Leem, Director General of Sharjah Hamriyah Free Zone shares the success story of the Free Zone that is leading this advancement. We salute their efforts and wish them well.

Many of us are familiar with Dubai's own snack food, the multi-flavoured Shikar Poppadums, but do we know the man behind the snack? PKF Update caught up with this fast-paced businessman, Bharat Narayan, Managing Director of Hunter Foods. The age-defying energy of this man's passion for business is brought to you through an interview; we hope you will enjoy it.

PKF derives its strength from the expertise of its staff. Senior consulting staff of PKF share their views on two topical issues- IAS 39 (Accounting and Auditing), and Balanced Scorecard (Human Resources). We trust these features will shed more light on the addressed issues.

With summer peaking and most people holidaying, we wish the holiday-goers a great time. For those of us staying back, it may be a good idea to indulge the DSS and tour the Emirates.