Corporate Boards Urged to Move Beyond Compliance

Corporate boards in Pakistan need to take a more proactive role in navigating economic uncertainty, technological disruption, cybersecurity threats, sustainability concerns 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 how stronger governance can help organisations become more resilient and future-ready.

 

PICG Chairman Muhammad Ashraf Bawany said effective governance should extend beyond regulatory compliance, focusing instead on building trust, creating sustainable value and strengthening institutions.

 

Chief Guest Muhammad Ali Tabba, Chairman of YBG, described sound governance as a fundamental pillar of business and called for governance principles to be integrated throughout organisations.

 

Pakistan Stock Exchange CEO Farrukh H. Sabzwari highlighted transparency, accountability, market integrity and investor confidence, while stressing the importance of greater diversity and inclusion at board level.

 

Former Investment Minister Muhammad Azfar Ahsan urged boards to prepare for economic and regulatory shifts and emphasised the importance of predictable policies and strong institutions.

 

The summit also examined the growing responsibilities of boards in managing geopolitical, supply-chain, economic and climate-related risks. Experts discussed scenario planning, resilient capital allocation and faster decision-making to help companies respond to disruption.

 

Succession planning was another key theme, particularly for family-owned businesses. Discussions focused on balancing family legacy with professional management, merit, inclusion and the need to adapt businesses for future generations.

 

Technology and cybersecurity also received significant attention, with speakers stressing that boards must actively oversee artificial intelligence, cybersecurity and digital transformation while ensuring technology investments generate sustainable long-term value.

 

Other sessions covered AI governance, digital banking, financial inclusion, sustainability and governance within Islamic finance and the non-profit sector.

 

In his closing keynote, Engro Holdings Chairman Hussain Dawood highlighted visionary leadership, responsible decision-making, trust and resilience as essential elements for creating lasting institutional value.

 

The summit concluded with the PICG Recognition Awards, reinforcing the message that corporate boards must move beyond compliance and actively anticipate risks, challenge assumptions and make decisions that support stronger and more sustainable organisations.