New code of conduct: PPIB members barred from accepting money, gifts

ISLAMABAD: In what appears to be a move to draw a clear line against undue influence and backdoor dealings, the Private Power & Infrastructure Board (PPIB) has framed a code of conduct for its board members, explicitly barring them from soliciting money, gifts, or favours from any party engaged in business with the organisation, well-informed sources told Business Recorder on Saturday.

According to the PPIB’s website, the Federal Secretary for Power Division serves as chairman of the 14-member Board, comprising representatives from federal and provincial governments. The position of the private member is currently vacant.

The sources said that the State-Owned Enterprises (Governance and Operations) Act, 2023, requires each SOE to adopt Codes of Conduct for both Directors and Employees.

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Specifically, Section 19(2) of the Act provides that “the board of each soe shall develop a code of conduct for the directors as well as for the employees, which shall include the matters elaborated in Schedule V of the Act.”

Schedule V sets out core elements such as integrity, accountability, conflicts of interest, confidentiality, safeguarding of assets, workplace ethics, and adherence to laws and regulations.

Furthermore, Clause 34 of the SOE Policy, 2023 reinforces this requirement by directing that the code of conduct must also cover the regulation of conflicts of interest and include clear procedures for disciplinary action, including cases involving violations by directors.

The PPIB’s codes of conduct incorporate the requirements of Section 19(2) and Schedule V of the SOE Act, 2023, as well as Clause 34 and Annex-8 of the SOE Policy, 2023.

The PPIB has formulated the following code of conduct for its board members: (i) Act honestly and with integrity in all dealings on behalf of PPIB.

Such conduct shall be fair, transparent, and perceived as such by third parties. They should not make any promises or commitments which PPIB does not intend or is unable to honour; (ii) fulfill their obligations in a fair, efficient, transparent, and ethical manner, rendering high standards of service in performing their functions; (iii) refrain from soliciting money, gifts, or favours from anyone with whom PPIB conducts business; and (iv) take reasonable measures to protect PPIB’s property and records from fraud, theft, or misuse.

The board members shall not use PPIB’s information for personal gain, financial or otherwise, or for the benefit of any other person or business. They will not willfully make false statements or conceal any material fact in any document, report, or statement. Board members are prohibited from seeking or attempting to achieve any undue gain or advantage for themselves, their relatives, partners, or associates.

Regarding confidentiality, the board members will not, whether inadvertently or deliberately, disclose information relating to any project or activity of PPIB. They must not communicate such information for personal benefit or discuss it with outside parties, nor make improper use of non-public information acquired through participation in board meetings.

In terms of responsibilities, board members will: (i) ensure that a formal code of conduct (regulations) is in place for employees, promoting an ethical culture within PPIB and preventing conflicts of interest; (ii) take appropriate steps to disseminate the code of conduct throughout the organisation, along with supporting policies and procedures; (iii) fulfill their fiduciary obligations and act in the best interest of PPIB, ensuring fair, diligent, and ethical oversight of PPIB’s assets and business affairs; (iv) act within the bounds of the authority conferred upon them and make informed decisions in the best interests of PPIB and its stakeholders; (v) acknowledge and accept the scope of their duties as directors and carry them out honestly, in compliance with applicable laws, rules, and regulations; (vi) maintain the highest standards of personal integrity, truthfulness, honesty, and fortitude in discharging their duties to inspire public confidence; (vii) refrain from acts involving moral turpitude, dishonesty, fraud, deceit, misrepresentation, or any other conduct prejudicial to PPIB’s administration; and (viii) disclose any potential conflicts of interest regarding matters before the Board and abstain from discussion or voting on such matters.

The draft code further states that the PPIB Board shall be the competent authority responsible for interpreting and applying the code to specific situations when questions arise.

The board will review this code as and when required for its appropriateness and sufficiency. However, any changes in applicable legislation shall be immediately incorporated. All reported violations shall be promptly investigated and treated confidentially to the extent reasonably possible.

Copyright Business Recorder, 2025