SECP has introduced a voluntary regime of principles to provide guidelines for improving corporate governance. PHOTO: FILE
KARACHI: The Securities and Exchange Commission of Pakistan (SECP) conducted a workshop for non-listed companies on Saturday to raise awareness about principles of corporate governance.
The SECP has introduced a voluntary regime of principles to provide guidelines aimed at improving corporate governance in these companies, which are mainly family-owned businesses.
The principles provide guidance in the areas, including role of board of directors and independent directors, remuneration, oversight, and training of directors, internal control mechanism and performance evaluation.
On the occasion, SECP Director (Corporate Supervision Department) Amina Aziz highlighted the importance of principles for SMEs and non-listed companies.
“Small business incubators have tremendous potential for growth and could transform to large-scale entities with potential for listing on stock exchange to attract capital from public,” she said.
Published in The Express Tribune, March 19th, 2017.
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