 In our previous sessions, we were basically talking about corporate governance and employees. We looked at knowledge based economy, we looked at the 149 labor laws, we talked about how employees can benefit, how employees can be made a part of the organization and become shareholders, what is equity, how the employee can be motivated in such a way by creating a conducive environment and create enabling frameworks, which can optimize the productivity of the employee, thereby increase the revenues and the profitability of an organization and then the role of trade unions and the collective bargaining agent, which sometimes can be positive and also sometimes which can be negative and detrimental. So, again different aspect for basically shared in our previous sessions. Now, we are now moving on to the most important take holder of an organization and that is the customer. Now, why is the customer so important? Because all the sales and all the profits of an organization depend upon the customer. If there is no customer, no matter how good the organization or how good the product is and if no one is buying it, then where will the organization go? It will end up as a bank up organization. So, the customer famous saying the customer is always right and the next famous saying is that the buyer or the customer is always sovereign. So, again that is the level of importance, which is given to a customer. Now, ladies and gentlemen, what we have to see is that when we are talking about customers, then again what is their role, what is their stake and what are their considerations when dealing with an organization and then how do they become loyal customers and repeat customers? That is extremely important. Now, ladies and gentlemen, when we are going to be looking at these different aspects and spheres of corporate governance and the role of the customer, then what we can see is that good corporate governance should place the customer as one of the important stakeholders and should give him his due share. So, that is extremely important that a company should not be exploited. Last time we talked about Toyota Corolla. We talked about Toyota as an organization, one of the largest organizations in the world. But unfortunately, despite the fact that they carry such a good reputation, they had this flaw in the brakes and the customers greatly suffered and therefore, there was this class action suit in which $1 billion was given as compensation. We talked about Enron in which $7.2 billion was given as compensation. So, again these depend upon the customers and the different stakeholders and how they tend to engage with the organization and how they make the organization more accountable and more diligent in their approach, more meritorious in their decision making. Now, this is how these customers basically tend to play their role within the organization. Now, there is also the consumer which means any person who buys or hires any services for some consideration paid or promised and includes any other user of goods or services using them with the approval of the buyer. It does not however, include a person who obtains goods for any commercial purpose or for resale. So, again ladies and gentlemen, the consumer is a form of customer. But sometimes the consumer does not necessarily directly contribute to the financial growth of the company. So, the customer usually is someone who is directly contributing and that means is paying for some service or is paying for some product. However, a consumer could be a consumer for example, of electricity could be a consumer of gas could be a consumer of a particular service which is which is provided but might not be directly paying for it. So, therefore, there is a very subtle difference between the customer, the consumer and the client. So, again there is a great overlap many people tend to look at all three as the same as synonymous of each other and if you want we can also create a distinction between the customer who is very important the client and then the consumer. So, again these are different forms of the customers which are always there. Then there are various rights of customers and that is the right to safety. So, when we are talking about the right to safety then protection against the marketing of goods and services which are hazardous to life and property and the right to be informed the consumer has the right to be informed about the quality, quantity, potency, purity, standard and price of goods and services. So, what we see ladies and gentlemen is that there are regulatory bodies around the world which are global regulatory bodies and then there are national regulatory bodies which basically ensure that different organizations and different institutions and different corporate bodies follow various frameworks and various laws and also do not give something which is hazardous to life and property. So, it cannot be that you tend to sell poison because that would kill human beings. It is very important to put an expiry date because after the expiry date then the product becomes toxic. It is also important that the ingredients should be specified so that people know that is it processed, is it organic, does it have any negative elements which can adversely affect health all of those things become very important and then the right to be informed it can be about the quality, it can be about the quantity and therefore you see things are like 200 ml, 500 ml, 1000 ml so that is the quantity. The quality also it can be determined by the customer and can be a personal choice but generally it can be written about the quality and then its potency, how strong is it? Just like when we are taking vitamins sometimes it's written that it's 25%, 100%, 200% the level of purity very important. We see it on juices that 50%, 75%, 33%, 100% the standard according to which comparable standard is this product or service being marketed and then definitely the price of the goods or the services are extremely important. So both of these things are very important one from the point of view of safety to ensure that the consumer should not be given a product or service which can be detrimental to his or her life or his or her body and then the right to be informed that everything should be properly written so that the customer can take what we call as an informed choice and cannot be sidelined or sidetracked which we have been seeing even at a global level that there have been different companies especially those related to food who have compromised on the quality and the standards and also the values based upon which that food product is being marketed and sold across the world so that becomes extremely important. The right to choose, the right to be assured wherever possible access to a variety of goods and services at a competitive price and the word competitive price is very important that the profit should be reasonable. They should not be exploitative, they should not be something which cannot be comprehended or cannot even be perceived just because there is a monopoly for example or maybe an oligarchy or maybe there has been a cartel. It doesn't mean that you adversely tend to subjugate the customer towards negativity and just look at the price of fertilizer right now in Pakistan. The price has gone to excess of 8000 rupees. Now that is just mind boggling that in a agri-economy such things are happening or sometimes what we see is that certain products are sold at 200 percent margin, 300 percent margin, 500 percent margin. Now that again is unethical and immoral and therefore there should be a corrective action by the organization so that the rights of the customer are not encroached or infringed upon that is extremely important. The right to be heard so if there is a grievance or there is a problem the customer must have accessibility to a certain platform where they can share their grief or can share their complaint and that platform could be effective. It should respond proactively towards that particular employee and then the right to seek redressal it could be against any unfair trade practices or unscrupulous exploitation of consumers or it could also be the fact that there could be different platforms. There are platforms in the government in which you can apply as a customer or there could be something like the consumer protection court which tends to give a redressal against such issues which are prevailing within the corporate structure. So all of these things are present over there. The right to consumer education is also very important just like I was mentioning a little bit earlier that it is important to educate the consumer. The consumer when picking up the product should be able to understand what is the product and there should be a no inconsistency number one, number two there should be no exaggeration, number three there should be a clarity of what the product is and number four it is extremely important that it should not be jargon based so that the client can understand the consumer can understand the customer can understand what the whole product or service is about. So that again becomes very important and when we are looking at all of this then we see that it becomes the responsibility of the organization to ensure that there is no misstatement, there is no misguidance, there is no misfeasance and most importantly the customer is sovereign and therefore all due regard to be given to the customer. Thank you so much.