KARACHI: Pakistan’s corporate boards must move beyond compliance and play 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.
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 build resilient and 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, while 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, 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 become embedded across organizations, 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, while former Minister for Investment Muhammad Azfar Ahsan stressed policy predictability, strong institutions and the need for boards to anticipate economic and regulatory shifts.
Panel discussion on Agile boards focused on expanding role of boards in managing geopolitical, supply-chain, economic and climate risks through scenario planning, resilient capital allocation and stronger decision-making.
The Family Legacy panel examined succession and governance in family-owned businesses, highlighting the need to balance legacy with reinvention, family ownership with professional management, and continuity with merit and inclusion.
"Technology also emerged as a major boardroom priority." The Boards Governing Innovation & Technology panel stressed that boards must strengthen oversight of cybersecurity, artificial intelligence and digital transformation while ensuring technology investments support long-term value creation.
A fireside conversation on featuring Narayanan Vaidyanathan of ACCA and Zulfikar Causer of BDO explored AI governance, accountability and emerging risks, emphasising the need for boards to actively oversee both the opportunities and risks associated with AI.
Kabeer Naqvi of Abhi Microfinance Bank highlighted governance as an enabler of digital banking innovation and financial inclusion. Zaffar A. Khan, Chairman, PCP, stressed governance , leadership and institutional capacity as foundation for non-profit sector, while Dr. Syed Amir Ali, CEO, Meezan Bank Limited, highlighted the integration of sustainability, governance and innovation into Islamic finance strategies.
In his closing keynote, Hussain Dawood, Chairman, Engro Holdings Limited, emphasized visionary leadership, responsible decision-making, trust and resilience as foundations for lasting institutional value.
The Summit concluded with the PICG Recognition Awards, reaffirming a clear mandate for boards to anticipate disruption, challenge assumptions and act decisively to build stronger, more sustainable organizations.
