Ethical Business Practices:The management of Pakistan Paper Products Ltd. always believes in best practice and good business ethics. The Company expect honesty and courtesy from entire employees of PPP Ltd. We are transparent and forthcoming in all our dealings with our clients and all contacts. The management policy’s is to conduct business with honesty and integrity and be ethical in all its dealings, showing respect for the interest of those with whom it has relationship.
Principals of Code of Conduct:
- I. Good business regulations with sound ethics.
- II. Treat with greet and fair with each other.
- III. Perform tasks with the best interest of the organization without conflict of interest with each other.
- IV. Safeguard Assets and maintain reputation of the company.
I. Good business regulations with sound ethics.
The paramount values are to conduct business with consistency with our customers, offer value in terms of price and quality and are safe for their intended use, satisfy customer needs and expectations. The Company is committed to run its business in an environmental
sustainable manner. The Company recognizes its Corporate Social Responsibility (CSR) and will contribute to community activities as a good corporate organization. The Company believes in and fully adheres to the reliability of financial reporting and transparent transactions, delivering in a timely and qualitative manner, prompt settling of accounts and other financial obligations, and honoring its commitments.
II. Treat with greet and fair to each other.
The Company encourages fair practice and honest communication among the entire thread of the employees. Relationship should be on reciprocal basis based on mutual respect and trust. Entire staff works as a team with the shared purpose of achieving goals set by the Company.
III. Perform tasks with the best interest of the organization without conflict of interest with each other.
Conflict of interest may arise when personal/ financial / social etc. interest place before the interest of the company. In some case it damages reputation as well, however many potential conflicts may be resolved simple and amicable way. If anyone encounters with conflict he/she immediately approach their superior and inform him/ her regarding subject matter and ask his / her guidance.
V. Safeguard Assets and maintain reputation of the Company.
Staff is responsible for proper use of company assets i.e; machinery, computers, and all other items that comes down under the term of assets, it must be protected and everyone ensure its legitimate and proper use. Theft, carelessness, mishandling and waste should always be avoided. In compliance of above, each individual of the company shall maintain integrity, good name and reputation of the Company.
Relationship with Company
The company do not encourage conduct of any non-company business during working hours; utilizing confidential or proprietary information or processes gained as a company employee; or using company property or equipment for non-company uses (exceeding reasonable personal use)
Offering or accepting a gift, entertainment, unless they fall under business custom, are immaterial and infrequent. The Company always discourage payments / gifts etc that could be viewed as a bribe.
Discourage of accepting any personal benefit that is or could be interpreted as being given to the employees because of their seniority or role in the organization.
During discharging of duties employees come a cross of various confidential & non-public information, however it is responsibility of the concerned person not just refraining but to avoid disclose it to unwarranted person.
A regular interaction made between the executives & managers for reviewing company’s defined objectives & plans and other issues that affect the employees’ work environment.
The Company maintains reliable records and reports.The Company believes in and fully adheres to the reliability of financial reporting and transparent transactions. The financial statistics of the Company and the results of its operations recorded and informed in accordance with the requirements of laws and regulations particularly of Karachi Stock Exchange (KSE), Securities Exchange Commission of Pakistan (SECP) & CDC regulations and general accounting principles. The reliability of the accounting and financial record keeping is generally based on the accuracy and completeness of the information. The staff involved in creating, processing and recording such information & transaction shall be responsible for its integrity and accuracy.
The organization is committed to follow corporate governance rules & regulations.In today’s changing world the corporate dynamics plays a pivotal role. The Directors at PPP Ltd recognized this need of paramount shift, therefore adhered to the principles of Corporate Governance. The Board of Directors of the Company is committed to implement the policies and procedures with honor and integrity, pursuing the true spirit of corporate governance commensurate with the Company's needs.
Relationship with Outside Business Entities:The management believes in fair and honest dealing with its suppliers, which is essential for promoting sound and lasting relationships. The management accord uniform and highest consideration to its all potential suppliers. The selection criteria generally based on price and quality as well as vendor’s reliability and integrity. Giving or receiving any kickbacks, bribes or similar payments of any sort is prohibited.
Synchronization with Government and the LawThe company abides all the statuary, legal requirements of the government and regulatory organizations of Pakistan. The company also abides by all federal, provincial and local regulations, and pay all taxes / custom duties that are owed and due, fully and in a timely manner. The company has also obtained all licenses and registrations from relevant organizations that are mandatory and required to do business. The company seeks to build and manage a sound relationship with governmental authorities on an arm’s length basis.
Insider trading is the trading in the shares of a listed company by insiders with access to non-public information about the company. Information is "inside information" if it is price-sensitive and has not been publicly disclosed.
Any employee who is aware of material, non-public information,
- Must not Trade in or execute transactions regarding company’s stock.
- Disclose that information to others who may buy or sell shares /securities because of the information, or
- Otherwise use the information for personal advantage or the personal advantage of others.
At PPP Ltd we highly discourage “Insider trading” that might benefit in terms of financial gained through use / disclose of information before this known to public to buy and sell shares of the company.
Licenses and professional certificationsThe Company obtained professional licenses and certifications and have a personal responsibility to maintain such licenses and certifications in good standing through timely renewals.
The company will never make political contributions whether in cash or in kindThe Company never indulged in any kind of political contribution in terms of cash or kind or in any means allows anyone to use company’s assets for the said purpose.
Relationship with SocietyThe Company understands its Corporate Social Responsibility (CSR) and believes in nourishing congenial relations with society, realizing the importance of CSR the Company also contributed in charity & donations.
Oppose exploitive, inhumane labor practicesIt is the utmost priority of PPP Ltd not to indulge in any inhuman labor practice. The Company sturdily believes in honest occupations and fair practice.
Health & safety IssuesThe Company is committed to provide safe and congenial environment for all the personnel of the organization. The management strongly opinioned for the safety and expect from all personnel to give landing hand for the safety of their colleagues in the workplace. The Company sternly does not coddle violent, abusive behavior, aggressive or abusive attitude to the fellow colleagues or others in the workplace. Management do not allow explosives, firearms and other weapons, whether legally permitted or not in the workplace.
DiscriminationThe Company treats all the employees with equality and without discrimination.
Relations with ShareholderThe paramount objective of the Company is to have cordial and congenial relations with the shareholders and always strive to safeguard interest of the shareholders. During recent years many checks & balances have been enacted by regulatory authorities of Pakistan like SECP, Karachi Stock Exchange and CDC to promote corporate environment and ethical corporate behavior. The Company always follow guidelines which chalked out by these regulators and now it is the standard practice of the organization for many years.
We regularly keep informed our shareholders about company’s progress through quarterly, half yearly and annually financial reports.
Convening of Meetings
In order to promote confidence of the shareholders and fair & transparent financial data the Company regularly convinced Audit Committee meetings on quarterly basis for analyzing accounts of the company. The external and internal Auditors of the Company also participate in such meetings.
Human Resource & Remuneration Committee
In Corporate Code of Governance 2012, the Code introduced constituting of Human Resource & Remuneration (HR&R) Committee. The Committee comprised on non-executive directors. The Committee convenes meetings and perform its tasks under the terms guided in the code 2012.
Board of Director’s meeting
To review the performance of the Company the Secretary of the Board convene meetings quarterly. The Board review financial accounts and take into consideration various matters that leads to a quantum change into the affairs of the Company. Key executives (CE/CFO) of the Company also join Board meetings and more often actively participate in candid discussions of various business issues.
Annual General Meeting
The Company keep informed to its shareholders about the progress of the company and all shareholders are invited to attend the Annual General Meeting, where shareholders have an opportunity not only get to know about the company but they can also ask questions to the senior management of the company. The shareholders also get company financial results and other information about the Company from its website.
Directors of the Company
It is the responsibility of the directors to ensure that the above principals are complied with. Directors are responsible to maintain organizational effectiveness for the achievement of the Company’s goals and support to compliance of legal requirements. The Directors of Company will ensure to promote a culture that supports enterprise and innovation with appropriate short term and long term performance related rewards that are fair and achievable in motivating management and employees effectively.
Seek Guidance and Report Concern
As the code cannot address every issue and may not be provide definite answer of the issues that may arise during working, therefore in accordance with the open door policy, if anyone has any suggestion(s) and observation(s) or may like to ask anything about this Code of Conduct he/she would certainly welcome.
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