Corporate governance has evolved well in Pakistan – the new Code of Corporate Governance 2012 has introduced a number of mandatory provisions. However, domestic practices still trail behind international best practices, especially those voluntarily adopted by corporations abroad. Pakistan Institute of Corporate Governance (PICG) has taken the lead in bridging this shortfall, by promoting good governance practices and providing the requisite knowledge tools necessary for sustainable growth through its training programs and other products and services like Corporate Governance Assessment (CGA).
Developed in collaboration with the International Finance Corporation (IFC), CGA enables companies to identify, benchmark, monitor and improve their corporate governance structures, policies and processes. CGA helps them analyze both corporate governance risks and opportunities by examining the company’s commitment to corporate governance, its board structure and functioning, the control environment, its disclosure and transparency and shareholder practices. By improving practices and focusing on opportunities, companies can gain access to lower cost of capital, enhance the company’s reputation, increase operational efficiency and sensitize the company to stakeholder issues.
Each analysis is tailored to address the unique challenges faced by companies with different ownership structures and are carried out by skilled PICG/IFC representatives. Assessment tools specifically designed for listed, state-owned and family-owned companies aid in determining the existing governance framework and performance in each of the key areas mentioned above. The results of the assessment and a recommended plan for implementing change, along with prioritization and milestones, is provided in a detailed report which is the deliverable.
For further details contact:
Arjumand Shah (Ext. 18)