Lahore: In a significant gathering, Mughal Iron and Steel Industries Limited convened its 15th Annual General Meeting (AGM) on October 26, 2024, at Lahore, confirming crucial decisions regarding its financial and auditing operations for the coming year.

The primary focus of the meeting was to review and endorse the company’s financial reports for the fiscal year that concluded on June 30, 2024. According to information available from the Pakistan Stock Exchange (PSX), the shareholders unanimously approved the Separate and Consolidated Audited Financial Statements along with the Chairman’s Review Report and the reports from the directors and auditors. This endorsement underscores the company's commitment to transparency and regulatory compliance, particularly adhering to Regulation No. 5.6.9(b) of the Rule Book of the PSX.

Further resolutions at the AGM included the appointment of auditors for the 2024-2025 term. The shareholders appointed M/s. Fazal Mahmood and Company and M/s. Muniff Ziauddin and Company as Joint Statutory Auditors. The board of directors will determine their remuneration. This decision is pivotal for the company’s governance, ensuring that the financial operations remain under rigorous scrutiny for another year.

This annual meeting not only reflects Mughal Iron and Steel’s dedication to sound financial management but also reinforces its position in the industry amidst evolving economic challenges.