Karachi, October 6, 2023 – The Pakistan Institute of Corporate Governance (PICG) and the Central Depository Company (CDC) have signed a Memorandum of Understanding (MoU) to launch a revolutionary corporate governance portal called “e-Go.”
This platform aims to protect the rights of minority shareholders, educate shareholders on governance-related issues, and encourage active engagement in corporate governance matters.
The e-Go portal will be developed and implemented as a joint venture between PICG and CDC, capitalizing on PICG’s expertise in corporate governance and CDC’s technical and operational proficiency in managing cutting-edge national-level digital platforms. The MoU signing ceremony took place at the CDC House in Karachi.
This groundbreaking initiative aligns with the Securities and Exchange Commission of Pakistan’s (SECP) vision of empowering and informing shareholders while safeguarding the rights of minority shareholders. The e-Go platform is designed to equip corporate and business shareholders with essential information, learning modules, and training resources to promote sound corporate governance practices.
The initiative’s launch coincided with the IOSCO World Investor Week 2023, running from October 2nd to 8th, 2023.
Speaking about the platform’s features, CDC CEO Badiuddin Akber stated that e-Go aspires to enhance corporate governance practices in Pakistan by ensuring their effective implementation. Leveraging technology, e-Go will provide a convenient, informative, and interactive platform for shareholders to learn about and actively engage in sound corporate governance practices. It aims to protect the rights of minority shareholders and involve them in corporate governance decisions. The CDC remains dedicated to advancing market development and stakeholder facilitation through digital transformation.
Memosh Khawaja, President, and CEO of PICG, commended CDC’s vision for stakeholder facilitation. He emphasized that this joint initiative would pave the way for greater shareholder engagement in corporate governance decisions. Khawaja noted the current lack of awareness and limited understanding among shareholders, especially minority shareholders, regarding their rights in corporate governance practices. This knowledge gap often results in reduced participation in decision-making processes and leaves shareholders vulnerable to manipulation and exploitation. The e-Go portal aims to bridge this gap by fostering increased shareholder awareness and knowledge.
The collaboration between PICG and CDC on the e-Go platform represents a significant step toward improving corporate governance practices in Pakistan, ultimately benefiting shareholders and the broader business community.
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