By IANS
Hyderabad : Work on the Hyderabad Centre for Excellence (HCE) of the Institute of Cost and Works Accountants of India (ICWAI) began Thursday on the city’s outskirts.
Andhra Pradesh Chief Minister Y.S. Rajasekhara Reddy laid the foundation stone for the centre, which will be the first in a series of such centres to be set up by ICWAI for research and training in the country.
It will be the state-of-the-art facility spread across 2,000 square metres with five floors. The facility is expected to be ready in nine months at a cost of Rs.85 million.
Chandra Wadhwa, president, ICWAI, said centres for excellence at Mumbai and Jaipur will follow. He wanted the Hyderabad centre to be the role model for others.
Wadhwa said a bill to set up a regulatory body for valuer professionals is likely to be introduced in the winter session of parliament. A ‘council for valuer professionals of India’ is proposed on the lines of the Medical Council of India.
ICWAI, which has 94 chapters in the country with 42,000 qualified members, will host a global summit in January 2008. It will be attended by 1,000 delegates from India and abroad.
Durga Prasad, chairman of the HCE committee, said the centre would focus primarily on research activities in the service sectors.