Karachi: In its 61st Annual General Meeting held on October 26, 2024, at Sialkot, GOC (Pak) Limited passed several resolutions as part of its ordinary and special business, keeping in line with PSX regulations. The key decisions include the maintenance of the current dividend and share structure, along with the reappointment of its auditors for the upcoming fiscal year.

The meeting led to the approval of the audited financial statements for the fiscal year ended June 30, 2024, which were reviewed and endorsed by the company's board of directors and shareholders. According to information available from the Pakistan Stock Exchange (PSX), the financial disclosures were met with unanimous approval, signifying stable financial governance within the company.

One of the notable resolutions included the approval of a stable cash dividend rate at 20.00 percent per share, marking a continuation of the company’s conservative capital distribution policy amidst an uncertain economic climate. No new bonus shares or rights shares will be issued, aligning with the company's strategy to stabilize stock value while retaining earnings for operational enhancements.

The firm also confirmed the reappointment of HLB Ijaz Tabussum and Company, Chartered Accountants, Lahore, as its auditors for the next financial year ending June 30, 2025. This decision underscores the company's intent to maintain rigorous financial oversight and transparency in its reporting practices.

Additionally, transactions with related parties, as detailed in note 31 of the financial statements for the year ended June 30, 2024, were ratified and approved. This includes routine financial dealings that are essential for day-to-day operations but require formal shareholder endorsement.

These decisions reflect GOC (Pak) Limited’s commitment to maintaining robust financial health and ensuring compliance with regulatory standards. The outcomes of this AGM indicate a strategic focus on sustaining shareholder value while navigating through fiscal prudence.