Report on the Observance of Standards and Codes : Corporate Governance Country Assessment - Pakistan 2018
This report assesses Pakistan’s corporate governance policy framework. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate go...
| Main Author: | |
|---|---|
| Language: | English |
| Published: |
World Bank, Islamabad
2019
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/173791553607925909/Corporate-Governance-Country-Assessment-Pakistan http://hdl.handle.net/10986/31463 |
| Summary: | This report assesses Pakistan’s
corporate governance policy framework. It highlights recent
improvements in corporate governance regulation, makes
policy recommendations, and provides investors with a
benchmark against which to measure corporate governance in
Pakistan. The report focuses on the governance of large and
listed companies, but includes a special section on the
governance of public sector companies. The report highlights
that corporate governance framework for listed companies has
improved in recent years as the government has enhanced the
legal and policy framework, and key institutions have grown
in sophistication and maturity. Much more can be done to
address corporate governance in Public Sector Companies. The
findings of the Report on the Observance of Standards and
Codes (ROSC) are based on the Detailed Country Assessment
(DCA) of the OECD Principles of Corporate Governance, which
is summarized in the tables at the end of each section.
According to the World Bank methodology used to assess
compliance with the 72 OECD Principles, 20 Principles were
fully implemented, 33 were broadly implemented, 16
principles were partially implemented, and three were not
applicable. A comparison with the 2005 Corporate Governance
ROSC shows the level of improvement in the corporate
governance framework; in 2005 out of a total of 32
applicable principles, only 4 were fully implemented, 17
were broadly implemented, 10 were partially implemented and
1 was reported as not implemented. The report (and this
summary) is organized into five sections: The commitment of
the public and private sectors to reform; Shareholder
rights; Disclosure and transparency; Boards of directors and
Public sector companies. |
|---|