It is the fundamental policy of ZIL Limited (herein after called “Company”) to conduct its business with honesty, integrity and in accordance with the highest ethical and legal standards. The company has adopted comprehensive Code of Conduct (herein after called “Code”) to provide guidance, foster a culture of uprightness & accountability, ensure high standards of personal and professional veracity, and promote integrity for the board, senior management and other employees.
The company carefully checks for compliance with the Code by providing suitable information, prevention and control tools and ensuring transparency in all transactions and behaviors by taking corrective measure, if and when required.
The Company and each of its employees, wherever they may be located, must conduct their affairs with uncompromising honesty and integrity. Employees are expected to be honest and ethical in dealing with each other, with clients, suppliers and all other third parties.
Misconduct is not acceptable in any form whether it was directed or requested by another person or entity. Any illegal, dishonest or unethical act must immediately be reported to the competent authority remedial and corrective actions.
Compliance with Laws:
General
It is the Company’s policy to comply with all laws, rules and regulations that are applicable to business in Pakistan.
Corporate and Taxation Laws
It is the Company’s policy to adhere with all applicable corporate, and taxation laws, rules, regulations and directives for the time being enforced.
Employment laws
It is the Company’s policy to comply with applicable employment laws, including those governing working conditions, wages, benefits, and minimum age for employment.
Environmental Laws
It is the Company’s policy to comply with all applicable laws and regulations for the protection of the environment.
Fair Competition and Antitrust Laws
The Company must comply with all fair competition and antitrust laws to ensure that businesses compete fairly and honestly and prohibit conduct seeking to reduce or restrain competition.
Conflicts of Interest:
Employees must not engage in activities or transactions which may give rise, or which may be seen to have given rise, to conflict between their personal interests and the interest of the Company.
There is a likely conflict of interest if employees:
Gifts, Bribes and Kickbacks:
Bribes, kickbacks or other payments, (other than received in the normal course of business including travel or entertainment) which are intended to influence a business decision or compromise independent judgment are strictly prohibited.
Accepting cash or cash equivalents, including cheques, money orders, vouchers, gift certificates, loans, stock or stock options that might place an employee under obligation is forbidden. Employees must politely but firmly decline any such offer.
Employee found guilty of paying or receiving bribes, gifts or kickbacks should be promptly reported to the appropriate authorities.
Financial Integrity:
All financial books, records and accounts must accurately reflect transactions and events and conform to generally accepted accounting principles and to the Company’s system of internal controls.
Information must not be falsified or concealed under any circumstances. Examples of unethical financial or accounting practices include:
financial results or goals;
documentation or financial reporting;
Protection and Proper Use of the Company Property:
Employees must safeguard the Company property from loss or theft, and should not take such property for unauthorized personal use. The Company property includes confidential information, software, computers, office equipment, and supplies.
Confidentiality of Information:
Employees are expected to safeguard confidential information and must not, without authority, disclose such information about the Company’s activities to the press, to any outside source or to employees who are not entitled to such information.
Record Retention:
The company’s business records shall be maintained for a period specified in the law and in accordance with specific policies.
Securities Trading:
Trading in the securities of the Company by the employee, or any of his relatives or friends, while possessing “inside” information related to that company is strictly prohibited.
Political Affiliations:
ZIL Limited is an independent organization free from any political affiliation. No funds or assets of the Company may be contributed to any political party or organization or any individual who either holds public office or is a candidate for public office except where such a contribution is permitted by law.
Reporting Ethical Violations:
All matters of ethical / legal violations, accounting or auditing matters, fraud, misconduct or other instances of unauthorized behavior should be promptly reported to the competent authorities in the manner prescribed / laid down by such authorities. Confidentiality would be strictly maintained in all such reported cases. Protection will also be provided from any kind of retaliation / consequence for all reports made in good faith.
Workplace Safety:
Every employee at work must take reasonable care for the health and safety of himself / herself and others who may be affected by his / her acts or omissions at work; and co-operate with the Company in its efforts to protect the health and safety of its employees and visitors.
It is the policy of the Company to promote a productive work environment and not to tolerate verbal or physical conduct by any employee that harasses, disrupts, or interferes with another’s work performance or that creates an intimidating, humiliating, offensive or hostile environment.
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