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Non Listed Companies (NLCs) account for huge percentage of GDP of Pakistan. They are key providers of current and future employment as well as the source of a large proportion of economic growth of Pakistan. It is hoped that this pioneering and practical initiative will have a significant impact on economic development in Pakistan.
Securities and Exchange Commission of Pakistan ( SECP ) is convinced that Corporate Governance can act as an efficient tool in promoting the growth and sustainability of companies registered in Pakistan. Governance is not only relevant for listed companies but Corporate Governance is important for all kinds of companies. In this document, thirteen principles of good governance are presented on the basis of a dynamic phased approach, which takes into account the size of individual company. NLCs can extract benefit from these principles to promote their sustainability, to bring external parties to their boards, to attract funds, and to solve issues between shareholders. Although only applicable on a voluntary basis, the Principles included in this document sets out the best practice governance recommendations of SECP for NLCs in Pakistan.