KARACHI: Pakistan’s corporate boards must move beyond compliance and take a more active role in navigating 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, according to an official statement issued by the institute.
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 build resilient, 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. The summit paid tribute to the late Dr. Shamshad Akhtar for her leadership and contribution to Pakistan’s economic development, governance and public institutions.
Chief guest Muhammad Ali Tabba, Chairman of YBG, said: “Good governance is not the price of doing business — it is the foundation on which business is done.”
He stressed that governance must be embedded throughout organisations, adding: “History doesn’t remember the companies that moved fastest — it remembers the ones trusted enough to be handed the future.”
PSX CEO Farrukh H. Sabzwari highlighted transparency, accountability, market integrity, investor confidence, diversity and greater board inclusion.
Former Minister for Investment Muhammad Azfar Ahsan stressed the importance of policy predictability and strong institutions, and said boards needed to anticipate economic and regulatory shifts.
A panel on agile boards examined the expanding role of directors in managing geopolitical, supply-chain, economic and climate risks through scenario planning, resilient capital allocation and stronger decision-making.
The Family Legacy panel focused on succession and governance in family-owned businesses. Speakers highlighted the need to balance legacy with reinvention, family ownership with professional management, and continuity with merit and inclusion.
Technology emerged as a major boardroom priority. The Boards Governing Innovation & Technology panel said boards must strengthen oversight of cybersecurity, artificial intelligence and digital transformation, while ensuring that technology investments support long-term value creation.
A fireside conversation featuring Narayanan Vaidyanathan of ACCA and Zulfikar Causer of BDO explored AI governance, accountability and emerging risks, emphasising that boards must actively oversee both the opportunities and the risks associated with AI.
Kabeer Naqvi of Abhi Microfinance Bank described governance as an enabler of digital banking innovation and financial inclusion. Zaffar A. Khan, Chairman of PCP, stressed governance, leadership and institutional capacity as the foundation of the non-profit sector.
Dr. Syed Amir Ali, CEO of Meezan Bank Limited, highlighted the integration of sustainability, governance and innovation into Islamic finance strategies.
In his closing keynote, Hussain Dawood, Chairman of Engro Holdings Limited, emphasised visionary leadership, responsible decision-making, trust and resilience as the foundations of lasting institutional value.
The summit concluded with the PICG Recognition Awards. According to the statement, the event reaffirmed a clear mandate for boards to anticipate disruption, challenge assumptions and act decisively to build stronger and more sustainable organisations.
With Pakistani companies facing economic pressures, rapid technological change and generational transitions in family-run businesses, the discussions reflected a growing view that boards can no longer treat governance as a regulatory formality. The challenge ahead, speakers suggested, will be turning these principles into consistent practice across the corporate sector.
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