Pakistan Institute of Corporate Governance (PICG) recently conducted a survey on the compensation policies of Directors of Boards in Pakistan in relation to Corporate Governance practices. According to a press release issued here on Thursday, the study is based on 2008 compensation data submitted by both listed and unlisted companies from the major business industries in Pakistan.
Directors compensation is now universally recognised as a key component of Board efficacy. The findings indicate that compensation of Directors in Pakistan is considerably low compared to international standards. A majority of companies do not pay their Chairperson a higher amount for attending board meetings and Director Liability Insurance cover is provided by only a few of responding companies. -PR