JCR-VIS Credit Rating Company Limited has reassigned corporate governance rating 'CGR 9' to Pak Kuwait Investment Company Private Limited (PKICL), which denotes 'very high level of corporate governance'. The rating is based on scale ranging from CGR-1 (lowest) to CGR-10 (highest).
Corporate governance ratings are based on evaluation of key governance areas of the rated enterprise, which include regulatory compliance, ownership structure, composition and operations of the board of directors and executive management, self-regulation, and financial transparency and relationship with stakeholders. The rating takes into account continuity of focus on governance since last rating action, efforts made towards improvement in systems and controls along with employee empowerment and fostering broad based decision-making. Moreover, efforts towards improving the information systems and progress made in this regard are also taken into account.-PR