The manner in which a company’s affairs are or should be performed in order to protect the shareholder and stakeholders is one of the definitions of corporate governance. Security and exchange commission of Pakistan has taken a few activities for the adequacy of corporate governance in Pakistan. Most importantly it was focused that addition of the autonomous directors (INED) in the Pakistani public sector organizations is vital for accomplishing the better position in the global business sector. SECP is likewise persistently making improvements in the strategies so as to accomplish the greatest effectiveness and to incorporate the changing happening in the worldwide business market and its consequence on the local market. Yet the standards …show more content…
Few years back, the then Federal Finance Minister Dr. Abdul Hafeez Shaikh admitted that the Public sector enterprises (PSE) of Pakistan are inefficient, poorly managed and burden on the national exchequer. The PSEs in Pakistan includes Pepco, Railway, PIA, Pakistan steel, NHA, Utility Stores, PASSCO, TCP and many more. Such losses are consuming national resources, it weakens the economy and increase the national debt. The PSE’s have outlived their useful live and instead of contributing to the national wealth they have in fact become a burden. The resources that should be used for the betterment of people, are being consumed by these enterprises. Some example of failure of PSEs in Pakistan are: 1. Power …show more content…
Railway: Pakistan railroad is managing to lose Rs 5 crore each day of the year. At Pakistan Railways, the overdraft now remains Rs 48 billion. Pakistan Railways (PR) is confronting a financial deficiency of roughly Rs 40 billion and has so far shut down thirteen traveler trains to address financial constriction. Auditor General of Pakistan report said extortion, wastage of assets, failure in recovering outstanding dues and other financial abnormalities adding up to billions of rupees were the explanations behind the losses. PR additionally sustained loss of Rs 1,324.13 million because of the non-recovery of lease and rental charges from different government and private associations. The Pakistan railway's poor administration, pitiful internal structure, carelessness, overstaffing and corruption from the grass level to the top administration drives the Pakistan Railway which was considered as the most income generating division towards its
But for the business of the railway it makes sure they know how long it will take to transport certain equipment on the railway and creates competition between different
Manufacturing the trains give lots of opportunities to countries who select
It is reported that half of the SOEs made losses, and the value amounted to tens of billions. Government realised the potential burden of the SOEs and initiate the restructuring of SOEs. To put it into a sentence, the approach was called ‘Grasping the large, and letting the small go’. The largest and centrally controlled firms are reorganised into even larger and more competitive enterprises/conglomerates, and on the other hand restructure the small and medium firms through privatisation or even closing
FINANCE ASSIGNMENT 2015 PANERA BREADS CO. (PNRA.O) QUESTION 1 Debt/Equity1 Year Date Debt Equity D/E Ratio 2014 28/12/2014 100,000 736,184 0.14 2013 28/12/2013 0
As stated in document 2 written by a Quing dynasty official who was likely trying to convince the government to adopt new technologies, in their current economic state, construction projects would promote jobs for the per. As a government project, railroads also helped establish a sense of nationalism. Demonstrated in document 3, which was written by the Ottoman government, had the perspective of hope for an economic increase and political reverence. The railroad from Mecca to Media would foster a community across the Dar a Salam. In India, railroads would create a sense of nationalism between the regions of the subcontinent.
. What industry(s) does CNR operate in? (3 marks) Canadian National Railway (CNR) is publicly traded company since 1995. It operate in service sector force on railway and transportation industry. CN is currently the largest railway in Canada, in term of both revenue and rail network.
A structural reform that would thus help reduces the burden on the taxpayers (Harris, 249). One of the things that would be kept in place would include abolishing price controls, provision of new capacity left to the private sector without taxpayer support, build new infrastructure in high demand locations, and uneconomical projects that are driven by political motives and special interest lobbying would be abolished. The tax imposed on businesses and individuals to support the railway industry destroy job creation and wealth creation as well. Removing rail subsidies could assist in benefiting the passengers by bringing in entrepreneurship and innovation on the railways that could help bring down
Most of the UK’s major rail routes where laid in the nineteenth century and have been adapted to suit modern needs ever since. The network struggles to be future proof as it copes with increasing commuter numbers and the need for quicker journey times between major UK cities. From 1998 to 2013 the number of rail journeys has doubled 1.5 billion; this kind of rapid growth is unsustainable for an already outdated rail network. • The business case – What financial reasons are there for doing the project, what value will it bring to the economy?
IV.Opportunities Even though Perkins fails to explain the more complex backgrounds and levels of development, his book still provides some fantastic opportunities, that can be incorporated into development. While Perkins describes the issue of neo-imperialism based on greed for resources, at the same time he also tries to convey a solution: As some resources like oil or gas are finite, Perkins decided to start his own solar power company, called Independent Power Systems (IPS) in order to offer a clean, sustainable and harmless alternative to common energy plants. He also hoped that his idea would inspire others to follow his example. Perkins’ company can also serve as an example of the changes that had been made in development policies
Among all the examples of privatization discussed in this chapter,
Workforce Strategy Plan The 12 deadly traps Introduction Workforce Strategic Planning has become a ‘hot’ issue for many organisations as they seek to better manage their most vital intangible asset – their people. In this article, we summarize some of the key contemporary workforce challenges, and argue the business case as to why organizations should develop a workforce strategy, including the adverse implications in failing to do so. We clarify what is meant by the term ‘workforce strategic planning’, given that some misconceptions abound. Finally, we warn of 12 traps to be wary of in developing a workforce strategy.
This point is emphasised by Jean Jacques Laffont in his book, Privatisation and Incentives. In this publication, the author states ‘the cost of public ownership is a suboptimal investment by the firm’s managers in those assets that can be redeployed to serve social goals pursued by the public owners’ (Laffont, 1). It is evident from these examples that Thatcher’s economic policy of privatisation impacted the British society during her reign. It helped to increase economic growth for the United
A good example can be seen from the Cameroon health sector support investment project sponsored (SWAP) by the World Bank where performance-based financial approach (PBFA) is used to promote healthcare by given financial support to health care centers to provide better services to its users.(world forum, 2015). Basically, health centers are funded so they can provide better healthcare to their underprivileged and vulnerable users. The rampant corruption in Cameroon has greatly affected this approach because power is still left in the hands of the healthcare provider, instead of the user. Thus the user is still charged a fee to access healthcare services. The government does not do regular controls on these healthcare centers to actually see if they provide healthcare to the needy as specified by the
EFFICIENCY OF PUBLIC SERVICES Efficiency can be defined as the ratio of useful work performed, or output produced to the total energy or input expended, effectiveness can thereby be defined as the extent to which an organization realise its goals or objectives. All organizations have both official and unofficial goals, organizations therefore have internal goals which may be formally documented or simply understood and shared by the members, as well as other goals whose attainment require the cooperation of forces outside the organization itself. Salient among the internal goals is the goal of productivity is the main aim of any organisation be it public or private, efficiency may mean different things
As stated in Principle 1, The Board of Directors directs the Group’s risk assessment, strategic planning, succession planning and financial and operational management to ensure that obligations to shareholders and other stakeholders are understood and met. The board of directors has a collective responsibility for the management of the group to make sure the group is on the way to approach to their objectives while the non-Executive Directors are responsible for bringing independent judgment and scrutiny to decisions taken by the Board of Directors and providing objective challenges to management. Besides, the board of directors also function as formalising and adopting a set of Code of Ethics through the Code of Conduct as Recommendation 1.3 as stated in the Malaysian Code on Corporate Governance 2012 to make sure its compliance, establishing an appropriate set of corporate disclosure policies and procedures and ensuring a whistleblowing mechanism is in place. The Board of Directors recognizes the importance of independence and objectivity in its decision making process. The Directors are professionals of high calibre and integrity and possess in-depth knowledge and experience of the business to enable them to discharge their duties effectively.