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Corporate boards in Pakistan must move beyond compliance and take a stronger role in managing economic uncertainty, technology and emerging risks.
Business leaders and governance experts made the remarks at the Pakistan Institute of Corporate Governance (PICG) Directors’ Summit 2026 in Karachi.
The summit was held under the theme “The Showcase: Your Leadership, Your Impact.” It brought together more than 350 directors, business leaders, regulators and senior executives.
Participants discussed how stronger corporate governance can help organisations become more resilient and future-ready.
PICG Chairman Muhammad Ashraf Bawany said good governance now goes beyond meeting compliance requirements.
He said organisations must focus on trust and sustainable value. Strong governance can also help institutions manage uncertainty more effectively.
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“Through better leadership and stronger boards, we can help build a more prosperous and resilient Pakistan,” Bawany said.
PICG CEO Shafaq Fauzil Azim also addressed the gathering.
The summit also paid tribute to the late Dr. Shamshad Akhtar. Speakers recognised her contribution to Pakistan’s economic development, governance and public institutions.
Chief Guest Muhammad Ali Tabba, Chairman of YBG, said good governance forms the foundation of successful business.
He stressed that organisations should embed governance across their operations. He also highlighted the importance of trust and long-term thinking.
PSX CEO Farrukh H. Sabzwari highlighted transparency and accountability as key governance priorities.
He also stressed market integrity and investor confidence. Greater diversity and board inclusion also featured in his remarks.
Former Investment Minister Muhammad Azfar Ahsan called for stronger institutions and predictable policies.
He said boards must prepare for economic and regulatory changes. They should also anticipate risks rather than respond only after challenges emerge.
A panel on Agile Boards examined the changing role of corporate directors.
The discussion covered geopolitical risks and supply-chain disruptions. It also explored economic and climate risks.
Panelists highlighted scenario planning and resilient capital allocation. They also discussed stronger decision-making at board level.
The Family Legacy panel focused on governance and succession in family-owned businesses.
Speakers discussed the balance between family ownership and professional management. They also highlighted the need to combine tradition with innovation.
The panel stressed merit and inclusion in leadership decisions. Effective succession planning can also help businesses maintain continuity.
Technology emerged as another major issue at the summit.
The Boards Governing Innovation & Technology panel focused on cybersecurity, artificial intelligence and digital transformation.
Speakers said boards must strengthen oversight of emerging technologies. They also stressed that technology investments should support long-term business value.
A fireside conversation featured Narayanan Vaidyanathan of ACCA and Zulfikar Causer of BDO.
The discussion examined AI governance and accountability. It also explored emerging risks linked to artificial intelligence.
Speakers stressed that boards must actively oversee both the opportunities and risks created by AI.
Kabeer Naqvi of Abhi Microfinance Bank highlighted governance as an enabler of digital banking and financial inclusion.
Zaffar A. Khan, Chairman of PCP, discussed governance and leadership in the non-profit sector. He also stressed the importance of institutional capacity.
Dr. Syed Amir Ali, CEO of Meezan Bank Limited, highlighted sustainability and innovation in Islamic finance.
He stressed the importance of integrating governance with long-term sustainability strategies.
In his closing keynote, Hussain Dawood, Chairman of Engro Holdings Limited, focused on visionary leadership.
He highlighted responsible decision-making, trust and resilience. He said these qualities can help institutions create lasting value.
The summit concluded with the PICG Recognition Awards.
The event reinforced the need for corporate boards to anticipate disruption and challenge existing assumptions.
It also highlighted the importance of decisive leadership. Stronger governance can help organisations build more sustainable and resilient institutions in Pakistan.
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