The Securities and Exchange Commission of Pakistan (SECP) has held the second roundtable meeting with external stakeholders to finalise amendments to the code of corporate governance. A statement issued by SECP said the roundtable was held in Lahore, on Thursday.
The first of such roundtables was held on July 29 in Karachi. The roundtable was attended by around 60 participants from various sectors representing prominent companies. After further deliberations in the light of these roundtables, the code will be finalised in consultation with the PICG task force that had initiated the process.
The roundtable materialised as a very interactive session and detailed deliberations were made on different amendments proposed to the code. Participants shared their views on all revisions proposed in the code, including the composition of the board; the role of independent directors; the number of directorships that a director can hold; disclosure requirements for related party transactions; measures required to safeguard the interest of minority shareholders, etc.
