Karachi: VIS Credit Rating Company Limited has elevated the Corporate Governance Rating of Pak Oman Investment Company Limited from ‘CGR-9’ to ‘CGR-9+’, indicating a very high level of corporate governance. This upgrade, announced on September 11, 2024, reflects the company’s improved governance practices over the past year.

According to VIS Credit Rating Company Limited, the rating uplift is a result of enhanced operations across various governance areas such as regulatory compliance, board and management committee effectiveness, and robust oversight mechanisms. The company’s board, supported by four specialized committees, has maintained high attendance and effective decision-making, bolstered by both third-party and in-house evaluations of board performance.

Further, the company has continued to strengthen its management framework, with significant updates to policies and procedures that emphasize ethics, risk management, and stakeholder engagement. The appointment of new senior managers and a structured succession plan also support the company’s governance strength. Financial transparency and compliance with the corporate governance code remain as cornerstones of POIC’s strategy, sustaining its commitment to high governance standards.