Pakistan : Report on the Observance of Standards and Codes (ROSC) : Corporate Governance Country Assessment

This report provides an assessment of Pakistan's corporate governance policy framework. In Pakistan, awareness of the importance of good corporate governance is high among policymakers and standard setters. It highlights recent improvements in corporate governance regulation, makes policy recom...

Full description

Bibliographic Details
Main Author:	World Bank
Format:	Corporate Governance Assessment (ROSC)
Language:	English en_US
Published:	Washington, DC 2012
Subjects:	ACCESS TO INFORMATION ACCOUNTING ACCOUNTING STANDARDS ACQUISITION ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSOCIATED COMPANIES AUDIT COMMITTEE AUDIT COMMITTEES AUDITING AUDITORS AUDITS AUTHORITY BANKING SYSTEM BANKS BOARD MEMBERS BOARDS OF DIRECTORS BUSINESS COMMUNITY CAPITAL MARKETS CAPITALIZATION CEO CEOS CHARTERED ACCOUNTANTS CHIEF EXECUTIVE CLEARING HOUSES COMMERCIAL BANKS COMMON LAW COMMON LAW COUNTRY COMPANY COMPANY LAW CONFLICT OF INTEREST CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CONSENSUS CONTROLLING SHAREHOLDERS CORPORATE ASSETS CORPORATE BOARDS CORPORATE CULTURE CORPORATE DECISIONS CORPORATE ENTITIES CORPORATE GOVERNANCE CORPORATE GOVERNANCE PRINCIPLES CORPORATE GOVERNANCE REFORM CORPORATE GOVERNANCE REFORMS CORPORATE GOVERNANCE STANDARDS CORPORATE LAW CORPORATE SECTOR CORPORATE STRATEGY CORPORATION CORPORATIONS COST OF CAPITAL DEBT DIRECTOR ACCOUNTABILITY DIRECTOR INDEPENDENCE DISCLOSURE CONTROL DISCLOSURE REQUIREMENTS DUE DILIGENCE DUTY OF CARE DUTY OF LOYALTY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE EMERGING MARKETS ETHICAL STANDARDS EXCHANGE COMMISSION EXTERNAL AUDITORS FAMILY OWNED COMPANIES FEDERAL GOVERNMENT FIDUCIARY DUTIES FINANCIAL CRISES FINANCIAL DISCLOSURE FINANCIAL INSTITUTIONS FIRMS FOREIGN COMPANIES FOREIGN INVESTORS GOOD CORPORATE GOVERNANCE GOVERNANCE ISSUES HOUSING INCOME INDEPENDENT AUDIT INDEPENDENT DIRECTOR INDEPENDENT DIRECTORS INDEPENDENT OVERSIGHT INSIDER TRADING INSTITUTIONAL INVESTORS INSURANCE INTERESTS OF MINORITY SHAREHOLDERS INTERNAL CONTROLS INVESTMENT BANKS INVESTOR PROTECTION ISLAMIC BANK JOINT STOCK COMPANIES JOINT VENTURE JUDICIARY LARGE COMPANIES LARGE COMPANY LEGAL FRAMEWORK LEGAL SYSTEM LEGISLATION LEGISLATIVE REFORM LIMITED LISTED COMPANIES MANAGERS MANDATES MERGER MINORITY SHAREHOLDER MINORITY SHAREHOLDERS MULTINATIONAL COMPANIES NONGOVERNMENTAL ORGANIZATIONS OPERATING PERMITS OWNERSHIP CONCENTRATION OWNERSHIP STRUCTURE PENALTIES PENSIONS POLITICAL INFLUENCE PRIVATE COMPANIES PRIVATE LIMITED COMPANIES PRIVATE PARTNERSHIP PRODUCTIVITY PROPERTY RIGHTS PROPRIETARY PROXY PRUDENTIAL REGULATIONS PUBLIC COMPANIES PUBLIC LIMITED COMPANIES PUBLIC POLICY RATING AGENCIES REGULATORY AUTHORITIES REGULATORY ENFORCEMENT REGULATORY FRAMEWORK REGULATORY REQUIREMENTS RETIREMENT RIGHTS OF SHAREHOLDERS RISK MANAGEMENT RULE OF LAW SAVINGS SECURITIES LAW SECURITIES REGULATOR SHAREHOLDER SHAREHOLDER ACTION SHAREHOLDER AGREEMENTS SHAREHOLDER APPROVAL SHAREHOLDER INTERESTS SHAREHOLDER MEETING SHAREHOLDER RESOLUTION SHAREHOLDER RIGHTS SOLE PROPRIETORSHIPS SOUTH ASIAN STAKEHOLDER STAKEHOLDERS STATE BANK STATE BANK OF PAKISTAN STATE ENTERPRISES STATE OWNED ENTERPRISES STATE OWNERSHIP STATE-OWNED ENTERPRISES STOCK EXCHANGE STOCK EXCHANGES SUBSIDIARIES TAKEOVER TAKEOVERS TAX RATE TAX RATES TECHNICAL ASSISTANCE TRANSACTION COSTS TRANSPARENCY TRUSTS VOTING
Online Access:	http://documents.worldbank.org/curated/en/2005/06/7447775/pakistan-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/8760

id	okr-10986-8760
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	ACCESS TO INFORMATION ACCOUNTING ACCOUNTING STANDARDS ACQUISITION ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSOCIATED COMPANIES AUDIT COMMITTEE AUDIT COMMITTEES AUDITING AUDITORS AUDITS AUTHORITY BANKING SYSTEM BANKS BOARD MEMBERS BOARDS OF DIRECTORS BUSINESS COMMUNITY CAPITAL MARKETS CAPITALIZATION CEO CEOS CHARTERED ACCOUNTANTS CHIEF EXECUTIVE CLEARING HOUSES COMMERCIAL BANKS COMMON LAW COMMON LAW COUNTRY COMPANY COMPANY LAW CONFLICT OF INTEREST CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CONSENSUS CONTROLLING SHAREHOLDERS CORPORATE ASSETS CORPORATE BOARDS CORPORATE CULTURE CORPORATE DECISIONS CORPORATE ENTITIES CORPORATE GOVERNANCE CORPORATE GOVERNANCE PRINCIPLES CORPORATE GOVERNANCE REFORM CORPORATE GOVERNANCE REFORMS CORPORATE GOVERNANCE STANDARDS CORPORATE LAW CORPORATE SECTOR CORPORATE STRATEGY CORPORATION CORPORATIONS COST OF CAPITAL DEBT DIRECTOR ACCOUNTABILITY DIRECTOR INDEPENDENCE DISCLOSURE CONTROL DISCLOSURE REQUIREMENTS DUE DILIGENCE DUTY OF CARE DUTY OF LOYALTY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE EMERGING MARKETS ETHICAL STANDARDS EXCHANGE COMMISSION EXTERNAL AUDITORS FAMILY OWNED COMPANIES FEDERAL GOVERNMENT FIDUCIARY DUTIES FINANCIAL CRISES FINANCIAL DISCLOSURE FINANCIAL INSTITUTIONS FIRMS FOREIGN COMPANIES FOREIGN INVESTORS GOOD CORPORATE GOVERNANCE GOVERNANCE ISSUES HOUSING INCOME INDEPENDENT AUDIT INDEPENDENT DIRECTOR INDEPENDENT DIRECTORS INDEPENDENT OVERSIGHT INSIDER TRADING INSTITUTIONAL INVESTORS INSURANCE INTERESTS OF MINORITY SHAREHOLDERS INTERNAL CONTROLS INVESTMENT BANKS INVESTOR PROTECTION ISLAMIC BANK JOINT STOCK COMPANIES JOINT VENTURE JUDICIARY LARGE COMPANIES LARGE COMPANY LEGAL FRAMEWORK LEGAL SYSTEM LEGISLATION LEGISLATIVE REFORM LIMITED LISTED COMPANIES MANAGERS MANDATES MERGER MINORITY SHAREHOLDER MINORITY SHAREHOLDERS MULTINATIONAL COMPANIES NONGOVERNMENTAL ORGANIZATIONS OPERATING PERMITS OWNERSHIP CONCENTRATION OWNERSHIP STRUCTURE PENALTIES PENSIONS POLITICAL INFLUENCE PRIVATE COMPANIES PRIVATE LIMITED COMPANIES PRIVATE PARTNERSHIP PRODUCTIVITY PROPERTY RIGHTS PROPRIETARY PROXY PRUDENTIAL REGULATIONS PUBLIC COMPANIES PUBLIC LIMITED COMPANIES PUBLIC POLICY RATING AGENCIES REGULATORY AUTHORITIES REGULATORY ENFORCEMENT REGULATORY FRAMEWORK REGULATORY REQUIREMENTS RETIREMENT RIGHTS OF SHAREHOLDERS RISK MANAGEMENT RULE OF LAW SAVINGS SECURITIES LAW SECURITIES REGULATOR SHAREHOLDER SHAREHOLDER ACTION SHAREHOLDER AGREEMENTS SHAREHOLDER APPROVAL SHAREHOLDER INTERESTS SHAREHOLDER MEETING SHAREHOLDER RESOLUTION SHAREHOLDER RIGHTS SOLE PROPRIETORSHIPS SOUTH ASIAN STAKEHOLDER STAKEHOLDERS STATE BANK STATE BANK OF PAKISTAN STATE ENTERPRISES STATE OWNED ENTERPRISES STATE OWNERSHIP STATE-OWNED ENTERPRISES STOCK EXCHANGE STOCK EXCHANGES SUBSIDIARIES TAKEOVER TAKEOVERS TAX RATE TAX RATES TECHNICAL ASSISTANCE TRANSACTION COSTS TRANSPARENCY TRUSTS VOTING
spellingShingle	ACCESS TO INFORMATION ACCOUNTING ACCOUNTING STANDARDS ACQUISITION ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSOCIATED COMPANIES AUDIT COMMITTEE AUDIT COMMITTEES AUDITING AUDITORS AUDITS AUTHORITY BANKING SYSTEM BANKS BOARD MEMBERS BOARDS OF DIRECTORS BUSINESS COMMUNITY CAPITAL MARKETS CAPITALIZATION CEO CEOS CHARTERED ACCOUNTANTS CHIEF EXECUTIVE CLEARING HOUSES COMMERCIAL BANKS COMMON LAW COMMON LAW COUNTRY COMPANY COMPANY LAW CONFLICT OF INTEREST CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CONSENSUS CONTROLLING SHAREHOLDERS CORPORATE ASSETS CORPORATE BOARDS CORPORATE CULTURE CORPORATE DECISIONS CORPORATE ENTITIES CORPORATE GOVERNANCE CORPORATE GOVERNANCE PRINCIPLES CORPORATE GOVERNANCE REFORM CORPORATE GOVERNANCE REFORMS CORPORATE GOVERNANCE STANDARDS CORPORATE LAW CORPORATE SECTOR CORPORATE STRATEGY CORPORATION CORPORATIONS COST OF CAPITAL DEBT DIRECTOR ACCOUNTABILITY DIRECTOR INDEPENDENCE DISCLOSURE CONTROL DISCLOSURE REQUIREMENTS DUE DILIGENCE DUTY OF CARE DUTY OF LOYALTY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE EMERGING MARKETS ETHICAL STANDARDS EXCHANGE COMMISSION EXTERNAL AUDITORS FAMILY OWNED COMPANIES FEDERAL GOVERNMENT FIDUCIARY DUTIES FINANCIAL CRISES FINANCIAL DISCLOSURE FINANCIAL INSTITUTIONS FIRMS FOREIGN COMPANIES FOREIGN INVESTORS GOOD CORPORATE GOVERNANCE GOVERNANCE ISSUES HOUSING INCOME INDEPENDENT AUDIT INDEPENDENT DIRECTOR INDEPENDENT DIRECTORS INDEPENDENT OVERSIGHT INSIDER TRADING INSTITUTIONAL INVESTORS INSURANCE INTERESTS OF MINORITY SHAREHOLDERS INTERNAL CONTROLS INVESTMENT BANKS INVESTOR PROTECTION ISLAMIC BANK JOINT STOCK COMPANIES JOINT VENTURE JUDICIARY LARGE COMPANIES LARGE COMPANY LEGAL FRAMEWORK LEGAL SYSTEM LEGISLATION LEGISLATIVE REFORM LIMITED LISTED COMPANIES MANAGERS MANDATES MERGER MINORITY SHAREHOLDER MINORITY SHAREHOLDERS MULTINATIONAL COMPANIES NONGOVERNMENTAL ORGANIZATIONS OPERATING PERMITS OWNERSHIP CONCENTRATION OWNERSHIP STRUCTURE PENALTIES PENSIONS POLITICAL INFLUENCE PRIVATE COMPANIES PRIVATE LIMITED COMPANIES PRIVATE PARTNERSHIP PRODUCTIVITY PROPERTY RIGHTS PROPRIETARY PROXY PRUDENTIAL REGULATIONS PUBLIC COMPANIES PUBLIC LIMITED COMPANIES PUBLIC POLICY RATING AGENCIES REGULATORY AUTHORITIES REGULATORY ENFORCEMENT REGULATORY FRAMEWORK REGULATORY REQUIREMENTS RETIREMENT RIGHTS OF SHAREHOLDERS RISK MANAGEMENT RULE OF LAW SAVINGS SECURITIES LAW SECURITIES REGULATOR SHAREHOLDER SHAREHOLDER ACTION SHAREHOLDER AGREEMENTS SHAREHOLDER APPROVAL SHAREHOLDER INTERESTS SHAREHOLDER MEETING SHAREHOLDER RESOLUTION SHAREHOLDER RIGHTS SOLE PROPRIETORSHIPS SOUTH ASIAN STAKEHOLDER STAKEHOLDERS STATE BANK STATE BANK OF PAKISTAN STATE ENTERPRISES STATE OWNED ENTERPRISES STATE OWNERSHIP STATE-OWNED ENTERPRISES STOCK EXCHANGE STOCK EXCHANGES SUBSIDIARIES TAKEOVER TAKEOVERS TAX RATE TAX RATES TECHNICAL ASSISTANCE TRANSACTION COSTS TRANSPARENCY TRUSTS VOTING World Bank Pakistan : Report on the Observance of Standards and Codes (ROSC) : Corporate Governance Country Assessment
geographic_facet	South Asia Asia South Asia Pakistan
description	This report provides an assessment of Pakistan's corporate governance policy framework. In Pakistan, awareness of the importance of good corporate governance is high among policymakers and standard setters. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Pakistan. The focus of the assessment is on listed companies, although reference is also made to banks and other financial institutions. Reform to improve corporate governance has been significant, including the introduction of a code of corporate governance and increased vigilance by regulators. Highly concentrated control by significant shareholders has limited the objectivity of boards and reduced the impact of some of the recent reforms. More generally, many smaller and family-owned companies have a limited awareness of the potential benefits of improved corporate governance. Corporate governance reform needs to percolate throughout the corporate sector, including family-owned businesses. The report concludes that further steps need to be taken to protect shareholder rights, including disclosure of beneficial ownership, and that boards must become more effective, with stronger fiduciary duties, and more capable independent directors.
format	Economic & Sector Work :: Corporate Governance Assessment (ROSC)
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	Pakistan : Report on the Observance of Standards and Codes (ROSC) : Corporate Governance Country Assessment
title_short	Pakistan : Report on the Observance of Standards and Codes (ROSC) : Corporate Governance Country Assessment
title_full	Pakistan : Report on the Observance of Standards and Codes (ROSC) : Corporate Governance Country Assessment
title_fullStr	Pakistan : Report on the Observance of Standards and Codes (ROSC) : Corporate Governance Country Assessment
title_full_unstemmed	Pakistan : Report on the Observance of Standards and Codes (ROSC) : Corporate Governance Country Assessment
title_sort	pakistan : report on the observance of standards and codes (rosc) : corporate governance country assessment
publisher	Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2005/06/7447775/pakistan-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/8760
_version_	1764405547500568576
spelling	okr-10986-87602021-04-23T14:02:40Z Pakistan : Report on the Observance of Standards and Codes (ROSC) : Corporate Governance Country Assessment World Bank ACCESS TO INFORMATION ACCOUNTING ACCOUNTING STANDARDS ACQUISITION ASSET MANAGEMENT ASSET MANAGEMENT COMPANIES ASSOCIATED COMPANIES AUDIT COMMITTEE AUDIT COMMITTEES AUDITING AUDITORS AUDITS AUTHORITY BANKING SYSTEM BANKS BOARD MEMBERS BOARDS OF DIRECTORS BUSINESS COMMUNITY CAPITAL MARKETS CAPITALIZATION CEO CEOS CHARTERED ACCOUNTANTS CHIEF EXECUTIVE CLEARING HOUSES COMMERCIAL BANKS COMMON LAW COMMON LAW COUNTRY COMPANY COMPANY LAW CONFLICT OF INTEREST CONFLICTS OF INTEREST CONFLICTS OF INTERESTS CONSENSUS CONTROLLING SHAREHOLDERS CORPORATE ASSETS CORPORATE BOARDS CORPORATE CULTURE CORPORATE DECISIONS CORPORATE ENTITIES CORPORATE GOVERNANCE CORPORATE GOVERNANCE PRINCIPLES CORPORATE GOVERNANCE REFORM CORPORATE GOVERNANCE REFORMS CORPORATE GOVERNANCE STANDARDS CORPORATE LAW CORPORATE SECTOR CORPORATE STRATEGY CORPORATION CORPORATIONS COST OF CAPITAL DEBT DIRECTOR ACCOUNTABILITY DIRECTOR INDEPENDENCE DISCLOSURE CONTROL DISCLOSURE REQUIREMENTS DUE DILIGENCE DUTY OF CARE DUTY OF LOYALTY ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE EMERGING MARKETS ETHICAL STANDARDS EXCHANGE COMMISSION EXTERNAL AUDITORS FAMILY OWNED COMPANIES FEDERAL GOVERNMENT FIDUCIARY DUTIES FINANCIAL CRISES FINANCIAL DISCLOSURE FINANCIAL INSTITUTIONS FIRMS FOREIGN COMPANIES FOREIGN INVESTORS GOOD CORPORATE GOVERNANCE GOVERNANCE ISSUES HOUSING INCOME INDEPENDENT AUDIT INDEPENDENT DIRECTOR INDEPENDENT DIRECTORS INDEPENDENT OVERSIGHT INSIDER TRADING INSTITUTIONAL INVESTORS INSURANCE INTERESTS OF MINORITY SHAREHOLDERS INTERNAL CONTROLS INVESTMENT BANKS INVESTOR PROTECTION ISLAMIC BANK JOINT STOCK COMPANIES JOINT VENTURE JUDICIARY LARGE COMPANIES LARGE COMPANY LEGAL FRAMEWORK LEGAL SYSTEM LEGISLATION LEGISLATIVE REFORM LIMITED LISTED COMPANIES MANAGERS MANDATES MERGER MINORITY SHAREHOLDER MINORITY SHAREHOLDERS MULTINATIONAL COMPANIES NONGOVERNMENTAL ORGANIZATIONS OPERATING PERMITS OWNERSHIP CONCENTRATION OWNERSHIP STRUCTURE PENALTIES PENSIONS POLITICAL INFLUENCE PRIVATE COMPANIES PRIVATE LIMITED COMPANIES PRIVATE PARTNERSHIP PRODUCTIVITY PROPERTY RIGHTS PROPRIETARY PROXY PRUDENTIAL REGULATIONS PUBLIC COMPANIES PUBLIC LIMITED COMPANIES PUBLIC POLICY RATING AGENCIES REGULATORY AUTHORITIES REGULATORY ENFORCEMENT REGULATORY FRAMEWORK REGULATORY REQUIREMENTS RETIREMENT RIGHTS OF SHAREHOLDERS RISK MANAGEMENT RULE OF LAW SAVINGS SECURITIES LAW SECURITIES REGULATOR SHAREHOLDER SHAREHOLDER ACTION SHAREHOLDER AGREEMENTS SHAREHOLDER APPROVAL SHAREHOLDER INTERESTS SHAREHOLDER MEETING SHAREHOLDER RESOLUTION SHAREHOLDER RIGHTS SOLE PROPRIETORSHIPS SOUTH ASIAN STAKEHOLDER STAKEHOLDERS STATE BANK STATE BANK OF PAKISTAN STATE ENTERPRISES STATE OWNED ENTERPRISES STATE OWNERSHIP STATE-OWNED ENTERPRISES STOCK EXCHANGE STOCK EXCHANGES SUBSIDIARIES TAKEOVER TAKEOVERS TAX RATE TAX RATES TECHNICAL ASSISTANCE TRANSACTION COSTS TRANSPARENCY TRUSTS VOTING This report provides an assessment of Pakistan's corporate governance policy framework. In Pakistan, awareness of the importance of good corporate governance is high among policymakers and standard setters. It highlights recent improvements in corporate governance regulation, makes policy recommendations, and provides investors with a benchmark against which to measure corporate governance in Pakistan. The focus of the assessment is on listed companies, although reference is also made to banks and other financial institutions. Reform to improve corporate governance has been significant, including the introduction of a code of corporate governance and increased vigilance by regulators. Highly concentrated control by significant shareholders has limited the objectivity of boards and reduced the impact of some of the recent reforms. More generally, many smaller and family-owned companies have a limited awareness of the potential benefits of improved corporate governance. Corporate governance reform needs to percolate throughout the corporate sector, including family-owned businesses. The report concludes that further steps need to be taken to protect shareholder rights, including disclosure of beneficial ownership, and that boards must become more effective, with stronger fiduciary duties, and more capable independent directors. 2012-06-22T14:24:33Z 2012-06-22T14:24:33Z 2005-06 http://documents.worldbank.org/curated/en/2005/06/7447775/pakistan-report-observance-standards-codes-rosc-corporate-governance-country-assessment http://hdl.handle.net/10986/8760 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Corporate Governance Assessment (ROSC) Economic & Sector Work South Asia Asia South Asia Pakistan

Pakistan : Report on the Observance of Standards and Codes (ROSC) : Corporate Governance Country Assessment

Similar Items