Conferences

Pakistan Institute of Corporate Governance (PICG) in collaboration with relevant stakeholders organizes Conferences, Seminars, and Roundtables from time to time to foster debate on significant issues. Conferences are designed in a manner where the experts deliberate on issues in different sessions elaborating the context and future scenarios that impact the overall business efficiencies.

Upcoming Conferences

To be announced

Previous Conferences

Conference on ‘Governance and Board Effectiveness in Public Sector Enterprises’

Click here to view conference presentation slides

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.

 

Conference & Workshop on ‘The Changing Role of the Company Secretary’

January 11-12, 2012 - Karachi: Pakistan Institute of Corporate Governance (PICG) in collaboration with the European Management Development Institute (EMADIN) and knowledge partner TXT Solaris organized a half-day conference followed by a one and a half day workshop on ‘The Changing Role of the Company Secretary’ at PC Hotel in Karachi on Wednesday and Thursday. The event was sponsored by Allied Bank, Tri-Pack Films and Pakistan State Oil.

With a brief introduction by PICG President and CEO, Fuad A. Hashimi, which highlighted the transition of the Company Secretary from humble beginnings to a far more complex role, the conference focused on the increasing challenges faced by Company Secretaries in meeting not only their core responsibilities of serving and advising the Board and its committees, but also other wide ranging duties in a business environment with growing demands for developing corporate governance systems.

Mr. David Demetrius, President of EMADIN, delivered the keynote address on recent changes in Company Law, audit requirements, duties and responsibilities and potential penalties from the perspective of the Company Secretary. The core duties and qualifications of the Company Secretary and their relationship with other offices were highlighted in detail along with changes in Directors’ duties and responsibilities.

Later, Mr. Tariq Saeed, Company Secretary of Shell Pakistan, spoke on the ‘Playing a Pivotal Role to the Board’. He spoke about the administrative, compliance and operational functions of a Company Secretary from a local perspective and how Company Secretaries plays a pivotal role in the effective functioning of the company thereby contributing towards its overall success.

The conference was concluded with a panel discussion by the two speakers and Ms. Neelofer Hameed, Company Secretary of International Industries Limited (IIL) and Mr. Muhammad Shuaib, Company Secretary of Pakistan International Airlines. The panelists elaborated on ‘Stakeholders’ Influence on the Company Secretary’s Role and Performance’ after which the floor was opened for question and answers.

The one and a half day workshop on ‘Key Responsibilities, Relations with the Board and Other Stakeholders’ was conducted by Mr. David Demetrius after the conference and was attended by senior executives from twenty well-known corporations and banks.

 

Conference on ‘Role of the Independent Director’

Karachi (January 19, 2011): Pakistan Institute of Corporate Governance (PICG) in collaboration with Pakistan Business Council (PBC) organized a conference on ‘Role of the Independent Director’ at a local hotel here on Wednesday. With a brief introduction by PICG President & CEO Fuad A. Hashimi, the conference was focused on the vital role of Independent Directors in enhancing the overall board’s performance.

The Asia Pacific Head of CFA Institute, Lee Kha Loon and Ken Rushton, fellow of Chartered Institute of Secretaries and Administrators, presided over the conference while the other speakers were Shahid Aziz Siddiqui, Chairman of State Life Insurance Corporation, Towfiq Chinoy, Chairman of Pakistan Cables, Ehsan Malik, Chairman and CEO of Unilever Pakistan and Kamran Y. Mirza, Chief Executive of PBC.

Fuad A. Hashimi, in his opening remarks, welcomed the speakers and highlighted the changing trends in director compensation in Pakistan.

Lee Kha Loon shed light on the rights of minority shareholders in Asia and the several challenges they face due to their currently weak position in Asia, while Ken Rushton elaborated on the appointment and qualities of Independent, Non-Executive Directors.

Shahid Aziz Siddiqui stressed the importance of Independent Directors in the public sector, while Towfiq Chinoy shared his perspective from the point of view of family owned businesses. Ehsan Malik presented an alternative view from the perspective of subsidiaries of big companies, stressing that the number of independent, non-executive directors on a company board should remain flexible and focus should be maintained on performance.

The last part of the conference was an informative discussion forum moderated by Zaffar A. Khan with the discussion panel comprising all five speakers. Delegates were given an opportunity to share their comments and opinions, and ask the panel questions at the end of the discussion.

Kamran Y. Mirza concluded the conference adding that although headed in the right direction, Corporate Governance was evolving in Pakistan and that care should be taken to maintain flexibility and include the feedback and opinions of all stakeholders.

Further Information:

• Speakers / Moderator Profile
• Conference Brochure

PICG holds conference on 'Role of Audit Committee'

KARACHI (December 02, 2010) : Pakistan Institute of Corporate Governance (PICG) recently organised a daylong conference on the 'Role of the Audit Committee' at a local hotel. With a brief introduction by PICG President & CEO Fuad A. Hashimi, the conference was focused on the changing perspective and challenges associated with this signal board committee.

Historically, the Audit Committee has always had the role of oversight and monitoring management and the external auditor. Consequent to the global economic crisis and the continuing uncertainty, the focus of the committee has intensified on all financial communications - from guidance to press releases to other disclosures.

Timothy Copnell, Associate Partner, Audit Committee Institute, KPMG LLP (UK), delivered the keynote address on 'International Best Practices' pertaining to changing role of the Audit Committee globally. It was followed by the contrasting experiences from different Pakistani business segments presented by PBC Chief Executive Kamran Mirza.

Copnell also discussed role of external auditor keeping experiences from Pakistan in context. The session was concluded with an enlightening discussion forum, where discussants deliberated further on the critical issues. Discussants on the panel, Abdullah Yusuf (Council Member & Vice President (North), ICAP), ICMAP President Hasan A. Bilgrami and ACCA Pakistan Head Arif Masud Mirza elaborated further on how independence of committee might be ensured and what could be different alternatives available to enhance their performance and contribution overall.

During the second session, HUBCO Chief Internal Auditor Huma Pasha deliberated on role of internal auditors by sharing experiences from Pakistani businesses. It was followed by the last presentation on perspectives from IT Audit Committee by CDC Chief Internal Auditor Fazal Ghaffoor.

The session was concluded by a discussion forum where discussant ISACA Karachi Chapter President Waqar A. Khan elaborated on the role and requirement of IT Audit Committee and its enhanced role in future. To identify structure and role of the Audit Committee in the participating organisations, quick poll was conducted. The result of which was also shared in the end. To conclude the session, IIAP Vice President Huma Pasha gave her closing remarks.

It was an informative session examining how an audit committee plays an elemental role in sustainability of a corporation and why there is an enhanced global emphasis on strengthening the role of audit committees. It was further discussed how the role is strengthened by the power and authority given to the committee by the board and regulations and the committee's understanding of contentious issues due to its oversight and monitoring role, and lastly its commitment to ensure that the financial statements present a true picture

Further Information:

• Speakers Profile
• Moderator Profile
• Conference Brochure
• Registration Form

Conference on ‘Corporate Governance and Enterprise Competitiveness’

Pakistan Institute of Corporate Governance (PICG) in collaboration with IoBM is organizing conference on “Corporate Governance and Enterprise Competitiveness” on November 10th, 2010 
              

Corporate Governance

Corporate Governance deals with the complete set of relationships between a corporation, its board of directors, management, shareholders and other stakeholders. In recent years, regulators and legislators have intensified their focus on how businesses are being run. They are endeavoring to create a balance for disclosure measures, which is beneficial for all stakeholders including the board of directors.

In order to enhance the footprint of corporate governance, a firm should adopt the following measures.

• Adopt an appropriate mechanism for effective governance.
• Value shareholders and stakeholder rights and responsibilities.
• Adhere and implement sound principles of direction and management
• Understand the significance of setting up various committees and their composition and responsibilities
• Implement the best practices in corporate management

Discussion will focus around:

• Effective Board Composition/Independent Directors
• Board Committees/Governance of Human Assets
• Strategic Governance & Managerial Oversight
• Disclosure-Transparency and Shareholder Rights
  

Strategy & Competitiveness

Competitiveness is a multidimensional concept encompassing three different levels of country, industry, and firm. This conference will address firm level strategy & competitiveness. Competitiveness at this level is productivity growth that is reflected in either lower costs or differentiated products that command premium prices’-Porter
Firm level competitiveness is of great interest among practitioners both corporate and academic. “Nations can compete only if their firms can compete!” argues Christensen of Harvard Business School.

Research shows that 36% of variance in profitability could be attributed to the firms’ strategic characteristics and actions.

Interactions with industry professionals through workshops and questionnaire surveys hint that a key reason of low usage of competitiveness theories may be weak understanding of these framework and models. Little is known about the usage and applicability framework and models in developing countries such as Pakistan and India’ Chaudhri (2001). Weakness in understanding competitiveness, specifically competitiveness processes from awareness to its integration with strategy may be a root cause of low competitiveness of firm in Pakistan.

Discussion will focus around:

• Managing Industry Dynamics for Competitive Advantages
• Innovating Value Chain Processes for Competitive Advantage
• Generating and Making Strategic Choices
• Aligning Structure, Resources and Culture with Strategy

Further Information:

• Conference Brochure
• Registration Form

 

Conference on the ‘Role of the Company Secretary’

Pakistan Institute of Corporate Governance (PICG) organized a full-day conference on the ‘Role of the Company Secretary’ on Monday, May 17, 2010 at Karachi Marriott hotel.

With a brief introduction by Mr. Fuad A. Hashimi (President & CEO, PICG) the conference was focused on ‘Raising the Bar’ as one of the most challenging roles on the corporate landscape. The enhanced focus on board effectiveness and remuneration presents a major challenge to the Company Secretary but also an opportunity to develop non-core responsibilities. The core role of the company secretary alone is also becoming more challenging as the work of the board and its committees expands to meet the demands of developing corporate governance systems.

Mr. Ken Rushton, member of the Corporate Governance Committee of the Institute of Chartered Accountants in England and Wales, the Chartered Director Committee of the Institute of Directors and a member of the Private Sector Advisory Group of the Global Corporate Governance Forum, delivered the key note address on ‘International Best Practices’. It was followed by presentations on ‘Role of the Company Secretary in Pakistan’ by Mr. Waheed-ur-Rehman (Group Chief-Compliance, Allied Bank Ltd.) and on ‘Working procedures of the Board and its Committees’ by Mr. Mahmud Dossa (Former General Counsel & Company Secretary, Shell Pakistan) in the first session. The session was concluded with an enlightening discussion forum.

During the second session, Mr. Moiz Ahmad (Consultant and Former Executive Director, ICAP) deliberated on ‘How to develop a Model Annual Report’ followed by the last presentation on ‘Preparing for & Conducting Annual General Meeting for Shareholders’ by Mr. Amir Waheed Ahmed (GM Corporate Services & Company Secretary, Byco Petroleum Pakistan Ltd.).

A highly interactive discussion forum followed the presentations raising issues on how to further enhance the role of company secretaries in the companies. In a nutshell, the objective of the conference was to highlight the current scenario and proposing a set-up where organizations in any segment, must run in a neutral manner under the framework of good governance.

Further Information:

• Agenda
• Speakers’ Profile

Conference on the 'Role of the Non-Executive Chairman'

A half day conference on the ‘Role of the Non-executive Chairman’ was held by Pakistan Institute of Corporate Governance (PICG) in collaboration with Pakistan Business Council (PBC) on Tuesday, January 05, 2010 at Karachi Sheraton hotel.

With a brief introduction by Mr. Fuad A. Hashimi (President & CEO, PICG) and Mr. Kamran Y. Mirza (Chief Executive, PBC), the conference was focused on the role of a non-executive chairman, a key issue in the realm of Corporate Governance practice. Mr. Salim Abbas Jilani (Chairman SSGC) chaired the conference and was also one of the moderators. Mr. Munnawar Hamid OBE (Chairman BOC & SilkBank) was the other moderator.

Mr. Ken Rushton, senior advisor at Nestor Advisors and a member of the Private Sector Advisory Group of the Global Corporate Governance Forum, delivered the key note address on ‘International Best Practices’. It was followed by presentation on ‘Experience with Pakistani State-Owned Enterprises’ by Mr. Zaffar A. Khan (non-executive independent director on the boards of companies like State Bank of Pakistan, Unilever, Shell Pakistan etc.). The last presentation was on ‘Perspectives from Family-Owned Businesses in Pakistan’ by Mr. Razzak Dawood (Chairman, Descon Engineering & PBC and Rector of LUMS).

A highly interactive discussion forum followed the presentations raising issues on how to further enhance the role of non-executive chairman in the companies. In a nutshell, the objective of the conference was to highlight the current scenario and proposing a set-up where organizations in any segment, specifically those relating to public sector enterprises, must run in a neutral manner under the framework of good governance.

Please download the flyer for the conference.