It has been considered that companies in Pakistan are “moderately transparent” in corporate reports, according to the transparency report in the evaluation of corporate reports (trac) by International Transparency of Pakistan (TIP).
According to a statement issued on February 10, the report evaluated the 69 main companies that are quoted in the stock market in the Pakistan Stock Exchange (according to market capitalization) about its transparency in the dissemination of information.
He said the evaluation described and classified companies into five different crucial thematic areas for the struggle and prevention of corruption, namely: “Reports on anti -corruption programs, organizational transparency, dissemination of key financial information in national operations, reports on policies gender and non -discrimination, human rights and corporate responsibility. “
The report indicated that the lowest average score, 47.28 percent, was observed in anti -corruption programs, which reflects partial transparency, according to the statement.
He added that companies on average were “moderately transparent” in corporate reports, with a 7.23 of 10 score, where 0 was the “least transparent”, while 10 was “totally transparent.”
According to the statement, the companies that registered the highest general scores in the evaluation were Lucky Core Industries, Allied Bank Limited and Oil and Gas Development Company Limited.
“However, none of the companies achieved a total general score for transparency in dissemination practices,” the statement said.
The average score to inform about anti -corruption programs in the trac category was simply 47.28PC, the lowest among all categories evaluated, which reflects that companies were only partially transparent in their dissemination practices, he said.
In the category of Anti-Corruption programs, he said that Colgate-Palmolive (Pakistan) Limited, MCB Bank Limited, Allied Bank Limited and Engro Corporation Limited achieved the highest score.
The statement said it was “important to keep in mind that the TRAC report does not evaluate the implementation of companies or anti -corruption programs.”
“The scores reflect only the scope of the presentation of reports, not the effectiveness of the practices in themselves,” he said.
“As such, a lower score does not necessarily indicate a little ethical or irregularities, nor a higher score confirms a solid adhesion to ethical standards,” he added.
He said that as the country continued to sail for economic challenges, transparency and responsibility were crucial for sustainable growth and investor confidence.
“Recognizing this need, the report evaluates dissemination in essential areas to combat corruption,” the statement said, added that the companies that proactively disseminated the information, even beyond the legal requirements, demonstrated a commitment to the ethical commercial practices and corporate responsibility.
Citing the Executive Director of TIP, Kashif Ali, the statement said: “As international regulatory agencies and institutions emphasize government improvements as a key factor for economic recovery, there is a growing need for reforms in reports on reports corporate “.
“Through this evaluation, Tip aims to encourage the private sector to lead with the example, promoting an environment where companies operate with zero responsibility and tolerance for corruption.”
He said the report provided detailed recommendations for companies on how to improve their dissemination practices, which would lead to a better score.
According to the statement, the president of TIP, Judge Zia Perwez, commented: “As Pakistan navigates critical economic challenges, the need for corporate integrity and transparency has never been more pressing. The path to recovery lies in companies that cover openness, responsibility and ethical leadership, values that strengthen not only reputation but in the economy in general. “
Last week, Transparency International said that the Pakistan classification in the 2024 corruption perception index fell into two points from 133 in 2023 to 135 in 2024 of 180 countries.