 Bismillahirrahmanirrahim and Aslanikum Pakistan. Welcome back to Corporate Governance and we've now been on our journey of understanding media, the role of media, its implications, its consequences, its different connotations and its different frameworks of engagement and disengagement. In the previous session ladies and gentlemen, we basically talked extensively on the role of media, how it tends to create a balance and harmonize society, how it interfaces as a very important element with the corporate sector and the government and society as a whole, how it has emerged as a fourth pillar of equal significance or even more significance than the other pillars of judiciary, government and the parliament, and then it has also emerged as a friend. And we see that media has played its role extensively in the past, in the past 10-12 decades, but its true significance has been seen in the past two years during the COVID pandemic. What we have seen is that it has played its role as a friend, as a philosopher, as a critic and as a catalyst of society. Because of media, the whole world was able to get together and join resources and join knowledge and information, join data together to battle this devastating COVID-19 phenomena. And even though it seemed that things would spiral out of control, but it was through media and print media, electronic media, digital media and social media. And all of these medias together were able to educate the masses on local, national and global level and make them aware of the importance of the various elements of COVID, of quarantine, of vaccination, of social distancing, of having masks and sanitizers, of ensuring that people sit at home and engage with media. And through that engagement we see that a completely new paradigm has emerged in the corporate world because now we talk about offsite engagement. We talk about flex timings, we talk about working from home, all of these new philosophies and these new impediments and all of these new opportunities have emerged through the engagement with media. So media has played its role for the bourgeois, for the aristocrats, for the proletariat, for the destitute, for the marginalized, for the improvised, for the elite. So all segments of society and everyone has benefited through it and it has basically connected everyone, no matter who they are or what they are or where they are. Everyone is now connected and it has shown maturity that through that maturity they have been able to effectively battle against this global pandemic and save the world and move the world forward now with more possibilities and more opportunities. So that is the role of media. So ladies and gentlemen what we see is that media has become not only effective I would say, I would say it has become extremely effective. And it is through media that we see that very powerful players or very powerful stakeholders cannot take advantage of the disadvantage, cannot harass the weak, cannot exploit or manipulate the different segments of society. Because media acts as a safeguard and plays its role in a very very positive way. Now ladies and gentlemen media basically has the capacity to reach a large audience of a relevant group or the whole world and it has two characteristics, diffusion and credibility. So again credibility is based upon the news that they do. Is it real news or is it fake news? If any media channel no matter how popular they are, if it keeps on giving fake news then it would just dissipate and it would go into the books of history. But if they have credible news, if that news is genuine and real then the credibility can enhance and also the viewership can also enhance. And then again the diffusion is that what is the level of dissemination and that is extremely important. That what is the audience? Is it a local audience? Is it a national audience? What type of national audience is it cross gender? Does it have inclusivity and diversity? Is it global? So all of these things are very important from a media point of view. And the more news reaches the audience it produces greater impact. So that is the philosophy that the viewership has to be expanded and that is what we are seeing that now channels have print, have electronic, digital and social media just to ensure that they have, a wider audience all across. Most importantly like I was mentioning the news should be from a credible source and therefore it can create a buzz and can get a lot of traction. Effectiveness also depends on the magnitude of the reputational punishment and that basically means that again what are the consequences of those actions or of that news and they tend to have a lot of impact on the dissemination and also the absorption of that particular news. And then based upon that absorption and assimilation what are the results or what is the reaction of the public at large or the institutions or the corporate sector or any other sector that we may be talking about. And then the media basically acts as a bridge between the different sectors also and ensures that there is a balance harmony and synchronization. What we have to see is that when we are talking about how media interfaces then the violation by listed companies in the country is something very critical and that is what the media through investigative journalism is always trying to find out. The violation to the stakeholders of the company is also very important to see that no stakeholder is exploited or no stakeholder tends to have hegemonic designs. The actions of company stakeholder in response to the news so again whatever news there is that how does the company and its stakeholders react to that that is very important. And then the effect of the stakeholder actions on the companies and that would be that whatever effect it has then they would be certain influence and certain reaction and certain steps which are taken basically in light of the news disseminated and then the response of the company and final outcome based upon these different stages. So we see that there is a process which is followed by by corporates and by the corporate sector to engage with media. And it's very important to ensure that they do not get blackmail or do not get suffocated and very importantly provide provide authentic and genuine information to the media so that they can project it in the best possible way. And that is extremely important and therefore we see that this effectiveness of the media can lead to wonderful results. And on the other hand if there is false news then it can be debilitating not only for the media organization but for society at large and all the stakeholders of corporate governance. Thank you so much.