Pakistan Institute of Corporate Governance (PICG) in collaboration with Centre for International Private Enterprise (CIPE) organized a half-day conference on ‘Governance and Board Effectiveness in Public Sector Enterprises’ on April 11, 2012 at Marriott Hotel, Karachi.
The conference was highly relevant with reference to the current national environment and the Government of Pakistan’s efforts in restructuring Public Sector Enterprises. The Securities and Exchange Commission of Pakistan (SECP) has recently finalized a draft, ‘Public Sector Companies (Corporate Governance) Regulations 2012’, to improve the governance framework of Public Sector Companies and facilitate the government in restructuring State Owned Enterprises (SOEs).
The objective of the above mentioned conference arranged by PICG in collaboration with CIPE was to discuss local and international views and experiences on the subject and encourage national debate by soliciting opinions and suggestions from stakeholders with reference to the recently published draft. The panel discussion and question and answer session was an ideal opportunity for companies to support the Government’s efforts and convey their views through participation.
The keynote speakers were Mr. Olli V. Virtanen from Finland and Dr. Shamshad Akhtar (Ex- Governor State Bank of Pakistan), with additional presentations by Mr. Farooq Rahmatullah, Chairman Pakistan Refinery Limited and Syed Naseem Ahmad, Chairman Faysal Bank Limited. The discussion panel comprised of these speakers as well as Mr. Zaffar A. Khan and Mr. M. J. Jaffer and was moderated by Syed Asad Ali Shah who is heading the technical committee on development of Corporate Governance Regulations for Public Sector Entities and related reforms.