The Government of Khyber Pakhtunkhwa (KP) established the Corporate Governance Unit (CGU), functioning under the Finance Department in the year 2019. The unit is mandated with bringing reform in the Public Sector Companies (PSCs) and Autonomous Bodies (AB) of KP by improving their governance practices. The goal is to enhance board effectiveness, improve transparency and accountability of these entities.
Key areas of focus of the CGU are listed as under:
- Enhance board effectiveness through revamping Board practices and processes.
- Create and maintain a pool of directors with diverse skill sets and core competencies.
- Develop policy frameworks in areas of Board, Human Resource, Finance, Internal Audit, Risk Management etc. to guide the entities on best practices relevant to them.
- Analyze and evaluate entities' governance practice to recommend improvements in accordance with best practices.
- Identify cost-savings and possible revenue enhancement options.
- Facilitation in designing reporting formats and producing periodic reports.
- Recommend improvements to the entity's processes and capabilities with respect to governance & help develop programs to identify, cultivate and develop resources.
- Develop performance managment tools and ensure their monitoring (KPIs, performance linked compensation & performance contracts).