Pakistan ki badi listed companies corporate reporting mein ab bhi sirf darmiyani satah ki transparency dikhati hain. Transparency International Pakistan ki ek nayi assessment ke mutabiq, human rights, environmental, social and governance (ESG) issues aur anti-corruption programmes se mutaliq maloomat faraham karne mein numaya kamzoriyan samne aayi hain.
Transparency in Corporate Reporting Assessment (TRAC) 2026 mein Pakistan Stock Exchange mein listed 104 public limited companies ka jaiza liya gaya. Is assessment mein companies ka ausat score 66.73% raha, jo 10 mein se 6.67 banta hai. Yeh score pichli report ke 72.3% ausat se kaafi kam hai, jis mein 69 companies ko shamil kiya gaya tha. Yeh farq is baat ki nishandahi karta hai ke Pakistan ki sab se bari corporations se bahar ki companies mein corporate disclosures ka mayar kamzor ho sakta hai.
According to Transparency International Pakistan (TIP), none of the companies included in the assessment secured a perfect overall transparency rating. However, Oil and Gas Development Company (OGDC), Fauji Cement Company Limited and Sazgar Engineering Works Limited ranked among the leading performers, achieving scores of 92.71%, 91.67% and 91.04%, respectively.
The findings revealed that human rights and corporate social responsibility (CSR) were the areas with the poorest disclosure, with companies recording an average score of just 45.98%. Environmental, social and governance (ESG) reporting ranked next at 47.84%, while anti-corruption programmes received an average score of 53.41%. These results point to substantial gaps in publicly accessible information concerning corporate accountability and responsible business conduct.
In comparison, companies demonstrated considerably better performance in disclosing their organisational structures and domestic financial details. Organisational transparency achieved an average of 92.49%, while domestic financial reporting scored 92.50%. Both categories fell within the report’s significant-transparency range.
The category covering gender equality, non-discrimination and disability inclusion received an average score of 68.11%, reflecting a moderate level of transparency. According to the report, companies still need to improve their disclosures on disability inclusion and establish clearer information about grievance procedures for reporting discriminatory behaviour.
Within the human rights and CSR category, Fauji Cement was the only company to achieve complete transparency in its disclosures, while 11 companies were rated as significantly transparent. The assessment reviewed several areas, including human rights due diligence, measures to prevent child labour, workplace safety, wage payment procedures and mechanisms for handling complaints.
The report also pointed to shortcomings in corporate disclosures related to anti-corruption efforts. The main gaps concerned employee training, communication of anti-corruption policies and the availability of channels through which corruption-related concerns could be reported. OGDC, Fatima Fertiliser Company Limited, Pakistan Tobacco Company Limited and Lucky Core Industries Limited achieved the highest scores in this category.
Despite these weaknesses, a comparison of the 63 companies assessed in both the latest and previous reports showed an improvement in overall transparency. Their average score rose from 72.01% to 78.45%, marking an increase of approximately 8.9%. The report linked this progress to improved results on assessment questions that remained consistent across both editions.
The assessment relied on publicly accessible material, including companies’ most recent annual reports for 2024 and 2025, official websites and other public documents. It evaluated corporate disclosures across eight areas: anti-corruption programmes, organisational transparency, country-by-country reporting, domestic financial reporting, procurement associated with government contracts, human rights, gender and disability inclusion, and ESG disclosures.
Transparency International Pakistan clarified that the assessment evaluates how much information companies make publicly available, rather than verifying whether they put their stated policies into practice. Consequently, a low score does not automatically prove unethical behaviour, while a high score should not be taken as confirmation that a company effectively implements its declared policies.
Nevertheless, the report stressed that thorough corporate disclosure plays a vital role in building investor confidence, strengthening public trust and minimising governance-related risks. For Pakistan, where corruption and weak revenue collection remain persistent challenges, improved corporate reporting standards could provide clearer evidence of business accountability and contribute to a more transparent corporate environment.
