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.
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 corporate governance can help build resilient and future-ready institutions.
PICG Calls for Stronger Board Leadership
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 additionally paid tribute to the late Dr. Shamshad Akhtar for her leadership and contribution to Pakistan’s economic development, governance and public institutions.
Good Governance as the Foundation of Business
Chief Guest Muhammad Ali Tabba, Chairman, YBG, said good governance should not be viewed simply as a regulatory requirement but as a core part of how businesses operate.
“Good governance is not the price of doing business — it is the foundation on which business is done,” he said.
He stressed that governance must become embedded across organisations, adding: “History doesn’t remember the companies that moved fastest — it remembers the ones trusted enough to be handed the future.”
The remarks highlighted the growing importance of trust, accountability and responsible leadership as businesses face increasingly complex operating environments.
Transparency and Institutional Resilience
PSX CEO Farrukh H. Sabzwari highlighted transparency, accountability, market integrity and investor confidence as key pillars of a stronger corporate ecosystem.
He also stressed diversity and greater board inclusion, reinforcing the need for boards to reflect broader perspectives when making strategic decisions.
Former Minister for Investment Muhammad Azfar Ahsan focused on policy predictability and strong institutions. He also emphasised the need for corporate boards to anticipate economic and regulatory shifts rather than simply react to them.
Agile Boards and Risk Management
A panel discussion on Agile Boards examined the expanding role of boards in managing geopolitical, supply-chain, economic and climate risks.
The discussion focused on the importance of scenario planning, resilient capital allocation and stronger decision-making frameworks. As external risks become more interconnected, boards are increasingly expected to understand potential disruptions before they affect business performance.
The message was clear: effective governance requires boards to prepare for multiple scenarios rather than rely solely on traditional compliance and reporting mechanisms.
Family Businesses Face a Succession Test
The Family Legacy panel examined succession and governance challenges facing family-owned businesses.
The discussion highlighted the need to balance legacy with reinvention, family ownership with professional management, and continuity with merit and inclusion.
For family businesses, effective succession planning can determine whether an institution successfully moves from one generation to the next. Strong governance structures can help separate ownership interests from day-to-day management while preserving the values that underpin the business.
Technology Moves to the Boardroom
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.
The discussion reflects a broader shift in corporate governance. Technology is no longer solely an operational issue handled by management and technical teams. Cybersecurity, AI-related risks and digital transformation can directly affect reputation, financial performance and business continuity, making them increasingly important board-level concerns.
AI Governance and Emerging Risks
A fireside conversation featuring Narayanan Vaidyanathan of ACCA and Zulfikar Causer of BDO explored AI governance, accountability and emerging risks.
The conversation emphasised the need for boards to actively oversee both the opportunities and risks associated with artificial intelligence.
As businesses adopt AI across operations, decision-making and customer services, governance frameworks will need to address accountability, oversight and responsible deployment alongside the potential productivity gains.
Governance Across Banking and the Non-Profit Sector
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 foundations for the non-profit sector.
Dr. Syed Amir Ali, CEO, Meezan Bank Limited, highlighted the integration of sustainability, governance and innovation into Islamic finance strategies.
The discussions demonstrated that governance challenges extend beyond listed companies. Banks, financial institutions and non-profit organisations also require strong leadership structures and institutional capacity to remain resilient as their operating environments evolve.
Visionary Leadership and Long-Term Value
In his closing keynote, Hussain Dawood, Chairman, Engro Holdings Limited, emphasised visionary leadership, responsible decision-making, trust and resilience as foundations for lasting institutional value.
His remarks reinforced the Summit’s central message that effective leadership is ultimately measured by the strength and sustainability of the institutions leaders leave behind.
PICG Recognition Awards Conclude the Summit
The Summit concluded with the PICG Recognition Awards, reaffirming a clear mandate for boards to anticipate disruption, challenge assumptions and act decisively.
The discussions throughout the event placed governance, leadership, technology, sustainability and resilience at the centre of Pakistan’s corporate future.
As businesses navigate economic uncertainty, digital transformation, cybersecurity risks and changing regulatory expectations, the role of the board is becoming broader. The PICG Directors’ Summit 2026 underscored that stronger boards can play a critical role in building organisations that are not only compliant, but also trusted, adaptable and prepared for the future.