pict governance

The company is building strategic business plans to smooth out the operations of the Pakistan container terminal. The board of directors of the company competently administer the leadership matters of governance as well as the pressure-test strategies.

BUREAUCRACY

The operational strategies and management of the company is handled effectively by our board through quarterly meetings and its committee. The purpose of these meetings is to evaluate the overall performance of the board throughout the year and also areas of improvements for the company. The board is instructed to meet at least four times in the year. All the supporting documents and the meeting agenda is timely informed to the board. All the Directors, including the Independent Director, fully participate in and make contributions to the decision-making process of the Board. In the board meetings, all the directors take necessary steps to evaluate the company's financial operations by means of accounts, reports and other financial and statistical information.

Committees

Pict port consists of several committees that mark up the progress of the company weekly, quarterly, monthly and yearly. Those committees include an independent audit committee, a human resource and remuneration committee, and the risk management committee. The operations within the departments are monitored by the internal audit committee via reports and resolutions of identified control deficiencies. Meanwhile the HR and remuneration committee and the risk management committee of the board collaborate daily to strengthen the functions of the board.

Shareholding Patterns

The company follows all ethical standards and professional practices are being plied by within the organization. The pillars of these ethical values within the organization are, honesty, integrity, respect of human rights and the interests of employees. The code of conduct followed at Pakistan container terminal illuminates light on various important matters e.g. conflict of interests, employee rights etc. The Board ensures that Code is disseminated to, understood and observed by employees. The responsibility for day to day implementation and monitoring of the Code is delegated to the senior management.

Code of Conduct

The Company's Code of Conduct promotes guidelines on various ethical standards including issues such as conflict of interest, employee rights etc. The pillars of these ethical values within the organization are, honesty, integrity, respect of human rights and the interests of employees. The Board ensures that Code is disseminated to, understood and observed by employees. The responsibility for day to day implementation and monitoring of the Code is delegated to the senior management.

Auditors

Ernst & Young Ford Rhodes

Chartered Accountants, 6th Floor, Progressive Plaza, Beaumont Road, P.O. Box 15541, Karachi - 75530

Legal Advisor

Usmani & Iqbal