KARACHI – The Pakistan Institute of Corporate Governance (PICG) in collaboration with the Centre for International Private Enterprise (CIPE) organised a conference on “Governance and Board Effectiveness in Public Sector Enterprises” on Monday.

The conference was highly relevant with reference to the current national environment and the government’s efforts in restructuring public sector enterprises. The Securities and Exchange Commission of Pakistan (SECP) has finalised 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 conference 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 also an ideal opportunity for companies to support the government’s efforts and convey their views through participation.

Keynote speakers were Olli V Virtanen from Finland and ex-governor State Bank of Pakistan Dr Shamshad Akhtar, with additional presentations by Pakistan Refinery Limited Chairman Farooq Rahmatullah and Faysal Bank Limited Chairman Syed Naseem Ahmad.

The discussion panel comprised of these speakers as well as Zaffar A Khan and MJ Jaffer.