Boards of directors can play a crucial role in building companies. They act as a strategic asset that can help guide management while providing the knowledge and experience necessary to navigate a variety of challenges. In addition to supporting management, boards also help to ensure that the interests of shareholders, whom they represent, are protected, as well as those of employees, customers, and other stakeholders.

I wrote an article a couple of years back about the lack of independence of the so-called independent directors on company boards in Pakistan (link here from profit editors) While that piece was written with the larger listed corporate entities in mind, in today’s article, I would like to focus on the needs of medium to large-scale family businesses, which may or may not be listed, but are now the mainstay of the country’s business and economic structure.

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The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account.

Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.

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