Corporate Boards Urged to Move Beyond Compliance at PICG Directors’ Summit 2026
Governance experts at the Pakistan Institute of Corporate Governance summit called for boards to focus on risk management, technology, sustainability and succession to build resilient institutions.
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Open on Business Recorder## PICG Directors’ Summit 2026 Overview
The Pakistan Institute of Corporate Governance (PICG) hosted its Directors’ Summit 2026 in Karachi under the theme “The Showcase: Your Leadership, Your Impact.” More than 350 directors, senior executives, regulators and business leaders gathered to discuss how stronger governance can help Pakistani companies navigate economic uncertainty, technological disruption, cybersecurity, sustainability and succession challenges.
## Key Messages from Leaders
- Muhammad Ashraf Bawany, PICG Chairman emphasized that good governance now means building trust, creating sustainable value and strengthening institutions, not merely meeting compliance check‑lists. - Shafaq Fauzil Azim, PICG CEO paid tribute to the late Dr. Shamshad Akhtar for her contributions to Pakistan’s economic development and public institutions. - Muhammad Ali Tabba, Chairman YBG described governance as the foundation of business and urged its integration across all organisational layers. - Farrukh H. Sabzwari, PSX CEO highlighted the importance of transparency, accountability, market integrity and board‑level diversity for investor confidence. - Muhammad Azfar Ahsan, former Minister for Investment called for policy predictability and urged boards to anticipate regulatory and economic shifts.
## Thematic Panels
- Agile Boards: Directors discussed managing geopolitical, supply‑chain, economic and climate risks through scenario planning and resilient capital allocation. - Family Legacy: Issues of succession, professional management and merit‑based inclusion in family‑owned firms were examined. - Innovation & Technology: Panels on cybersecurity, artificial intelligence and digital transformation stressed that technology investments must deliver long‑term value. - AI Governance Fireside: Experts from ACCA and BDO debated accountability and emerging risks linked to AI. - Financial Inclusion: Kabeer Naqvi of Abhi Microfinance Bank highlighted governance as a catalyst for digital banking and broader inclusion. - Islamic Finance: Meezan Bank CEO Syed Amir Ali spoke on integrating sustainability, governance and innovation into Sharia‑compliant finance.
## Closing Remarks
Hussain Dawood, Chairman of Engro Holdings Limited, concluded with a call for visionary leadership, responsible decision‑making, trust and resilience as pillars of lasting institutional value.
## Outcomes
The summit ended with the PICG Recognition Awards, reinforcing the message that corporate boards must anticipate disruption, challenge assumptions and make decisions that strengthen sustainable growth across Pakistan’s corporate sector.