ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has constituted a committee to review the conduct of listed companies for holding shareholding meetings.

The committee comprises representatives from the Pakistan Stock Exchange (PSX), Central Depository Company (CDC), Mutual Funds Association of Pakistan (MUFAP), Pakistan Bus­iness Council (PBC), Insti­tute of Chartered Accou­ntants of Pakistan (ICAP), Pakistan Institute of Corp­orate Governance (PICG) and the CFA Society.

The formulation of the committee is aimed at identifying reforms which can increase transparency in the manner of conducting the shareholder meetings and ensuring adequate redressal of concerns, particularly from minority shareholders.

The committee will be responsible for reviewing the regulatory requirements relating to the conduct of meetings of shareholders, including the manner of election of directors and the use of proxies, ide­n­tifying areas of concern, and suggesting reforms.

The committee is further tasked with proposing an appropriate monitoring mechanism of meeting proceedings, including the recording of the minutes of the meeting, and identifying the role of technology in enhancing efficiency.

Published in Dawn, November 3rd, 2023

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Smog hazard
Updated 05 Nov, 2024

Smog hazard

The catastrophe unfolding in Lahore is a product of authorities’ repeated failure to recognise environmental impact of rapid urbanisation.
Monetary policy
05 Nov, 2024

Monetary policy

IN an aggressive move, the State Bank on Monday reduced its key policy rate by a hefty 250bps to 15pc. This is the...
Cultural power
05 Nov, 2024

Cultural power

AS vital modes of communication, art and culture have the power to overcome social and international barriers....
Disregarding CCI
Updated 04 Nov, 2024

Disregarding CCI

The failure to regularly convene CCI meetings means that the process of democratic decision-making is falling apart.
Defeating TB
04 Nov, 2024

Defeating TB

CONSIDERING the fact that Pakistan has the fifth highest burden of tuberculosis in the world as per the World Health...
Ceasefire charade
Updated 04 Nov, 2024

Ceasefire charade

The US talks of peace, while simultaneously arming and funding their Israeli allies, are doomed to fail, and are little more than a charade.