Karachi, Monday February 10, 2025: According to the Transparency in Corporate Reporting Assessment (TRAC) 2024 report, companies in Pakistan have been deemed to be Moderately Transparent in corporate reporting.

The TRAC report is released by Transparency International Pakistan. The TRAC report assesses the top 69 Public Limited Companies on the Pakistan Stock Exchange (as per market capitalization) on the level of transparency in the disclosure of information. These areas are regulated under Reporting Guidance on the UNGC’s 10th Principle (Anti-Corruption), the Securities and Exchange Commission of Pakistan’s (SECP), Code of Corporate Governance, ESG guidelines, and National Action Plan on Business and Human Rights.

The assessment scores and ranks companies on five different thematic areas crucial to fighting and preventing corruption namely: reporting on anti-corruption programmes, organizational transparency, disclosure of key financial information in domestic operations, reporting on gender and non-discrimination policies, human rights and corporate responsibility. The report notes that the lowest average score, 47.28%, was observed in anti-corruption programs, reflecting partial transparency.

The report reveals that companies on average are Moderately Transparent in corporate reporting, with a score of 7.23 out of 10, where 0 is the Least Transparent and 10 is Fully Transparent. Lucky Core Industries, Allied Bank Limited and Oil and Gas Development Company Limited are the companies which recorded the highest overall scores in the assessment. However, none of the companies achieved full overall score for transparency in disclosure practices. The average score for reporting on anti-corruption programmes in the TRAC category is merely 47.28%,