KARACHI: The Chairman of Kohat Textile Mills Limited has lauded the Board of Directors for its exemplary performance and governance during the fiscal year ending on June 30, 2024. In the annual Chairman’s Review Report, the leadership highlighted the Board's strategic management and adherence to rigorous corporate governance standards.

The review outlined that the Board successfully executed its responsibilities towards shareholders, ensuring the company's alignment with the best practices mandated under the Companies Act, 2017, and the Listed Companies (Code of Corporate Governance) Regulations, 2019. According to information available from the Pakistan Stock Exchange (PSX), the Board’s efforts have been crucial in steering the company through a dynamic market environment.

Throughout the fiscal year, the Board conducted an annual evaluation confirming its compliance with legal mandates and its commitment to the company's strategic objectives. The evaluation criteria included the Board's involvement in strategic planning, policy formulation, and financial oversight, ensuring that Kohat Textile Mills operates efficiently and transparently.

Significant achievements of the Board during this period included robust oversight of the company’s operations, meticulous financial reporting, comprehensive risk assessments, and the management of internal controls. The Board also focused on sustainability issues, integrating environmental, social, and governance (ESG) considerations into the company’s business strategy.

Further emphasizing diversity, equity, and inclusion (DE&I), the Board ensured balanced representation across its committees, including the adequate presence of non-executive, independent, and female directors, enhancing the company’s governance framework.

The proactive governance model adopted by Kohat Textile Mills has set a benchmark for corporate governance within the industry, positioning the company for continued success and shareholder value creation.