Corpoarte Governance and Borrowing Powers of Directors - III
Code of Corporate Governance issued by SECP in Pakistan provides guidelines regarding the responsibilities, powers and functions of board of directors. Here is a reproduction.RESPONSIBILITIES, POWERS AND FUNCTIONS OF BOARD OF DIRECTORS(vii) The directors of listed companies shall exercise their powers and car

Corporate Governance and Borrowing Powers of Directors - II
The position in Company Law in Pakistan is that section 196 of Companies Ordinance 1984 describes the “Powers of Directors”, the section is being reproduced for reference.“196. Powers of directors.- (l) The business of a company shall be managed by th

How the tax code encourages debt: newyorker.com
How the tax code encourages debt: newyorker.comJohn Kenneth Galbraith wrote that all financial crises are the result of “debt that, in one fashion or another, has become dangerously out of scale.” The recent financial crisis was no exception, with everyone—homeowners, private-equity investors, our biggest banks—taking on enormous amounts of debt. If it’s frustrating that the government is footing the bill to clean up the mess, it’s even worse that the government helped pay for the debt binge that created the mess in the first place, thanks to a tax sy

Corporate Governance and Borrowing Powers of Directors
Corporate governance is to ensure that a system is in place to protect the individual as well as collective interests of all the stakeholders in a company. In this respect the role of Board of Directors becomes very important because by its very nature a company is an artificial juridical person in the sense that it can sue and can be sued. But it works through its directors who are its eyes, brain and muscle. Directors are the persons who run day to day affairs of the company and possess the first hand information about every aspects of its operations. Directors are also in the best of position to determine its future course i-e set objectives, formulate strategy

Golf and Business
There are many things that are common between the game of golf and running a business. Both need a strategy to achieve objectives. before you play a shot of golf, you visualize where the ball should land. It is the same in business before you begin a day or a month or a year, you visualize where you should be a