Moot urges corporate boards to move beyond compliance
KARACHI: Pakistan’s corporate boards need to move beyond compliance and play a more active role in addressing economic uncertainty, technological disruption, cybersecurity, sustainability and succession challenges, business leaders and governance experts said at the Pakistan Institute of Corporate Governance (PICG) Directors’ Summit 2026.
Held under the theme “The Showcase: Your Leadership, Your Impact,” the summit brought together more than 350 directors, business leaders, regulators and senior executives to discuss the role of stronger governance in building resilient and future-ready institutions.
PICG Chairman Muhammad Ashraf Bawany said good governance was increasingly about building trust, creating sustainable value and strengthening institutions rather than simply meeting compliance requirements. “Through better leadership and stronger boards, we can help build a more prosperous and resilient Pakistan,” he said.
PICG CEO Shafaq Fauzil Azim also addressed the gathering, which included a tribute to the late Dr Shamshad Akhtar for her leadership and contributions to Pakistan’s economic development, governance and public institutions.
Chief Guest Muhammad Ali Tabba, Chairman, YBG, described good governance as the foundation of business and stressed the need for governance to be embedded across organisations.
Pakistan Stock Exchange (PSX) CEO Farrukh H Sabzwari highlighted transparency, accountability, market integrity and investor confidence, while also stressing diversity and greater inclusion at board level.
Former Minister for Investment Muhammad Azfar Ahsan emphasised the importance of policy predictability and strong institutions, urging boards to anticipate economic and regulatory changes.
A panel on agile boards examined the expanding role of directors in managing geopolitical, supply-chain, economic and climate-related risks. Discussions focused on scenario planning, resilient capital allocation and stronger decision-making.
A Family Legacy panel addressed succession and governance challenges in family-owned businesses, including the balance between legacy and reinvention, family ownership and professional management, and continuity, merit and inclusion.
Technology was also a key focus of the summit, with the Boards Governing Innovation & Technology panel examining board oversight of cybersecurity, artificial intelligence (AI) and digital transformation. The discussion stressed that technology investments should contribute to long-term value creation.
A fireside conversation featuring Narayanan Vaidyanathan of ACCA and Zulfikar Causer of BDO focused on AI governance, accountability and emerging risks, with emphasis on the need for boards to oversee both the opportunities and risks associated with AI.
Kabeer Naqvi of Abhi Microfinance Bank discussed governance as an enabler of digital banking innovation and financial inclusion. Zaffar A Khan, Chairman, PCP, highlighted governance, leadership and institutional capacity as foundations for the non-profit sector.
Dr Syed Amir Ali, CEO, Meezan Bank Limited, discussed the integration of sustainability, governance and innovation into Islamic finance strategies.
In his closing keynote, Hussain Dawood, Chairman, Engro Holdings Limited, emphasised visionary leadership, responsible decision-making, trust and resilience as foundations for lasting institutional value.
The summit concluded with the PICG Recognition Awards and reiterated the role of corporate boards in anticipating disruption, challenging assumptions and taking decisions aimed at building stronger and more sustainable organisations.
Copyright Business Recorder, 2026