Karachi: Ghani Chemical Industries Limited convened its 9th Annual General Meeting on October 26, 2024, at its registered office, where shareholders approved pivotal resolutions aimed at enhancing the company's financial and operational footing.

According to information available from the Pakistan Stock Exchange (PSX), the meeting led to the unanimous approval of the annual audited accounts for the year ended June 30, 2024. These accounts, presented with comprehensive reports from the directors, auditors, and a review of corporate governance, received full endorsement from the meeting's attendees.

A significant resolution was the reappointment of M/s ShineWing Hameed Chaudhri and Co. as the company's auditors for the upcoming fiscal year ending June 30, 2025, with remuneration to be determined by the Chief Executive Officer.

Additionally, the meeting marked a strategic shift in investment policy. Shareholders approved an increase in the investment cap from Rs. 100 million to Rs. 200 million in Ghani Global Holdings Limited, reflecting a focused push towards bolstering its subsidiary operations. This move follows a prior enhancement of investment limits discussed in an extraordinary general meeting on September 20, 2022.

Moreover, shareholders resolved to further increase investment in Ghani Global Glass Limited from Rs. 900 million to Rs. 1.3 billion. These investments are structured as long-term loans and advances, providing the company with flexibility and strategic leverage to expand its influence and operational capacity in associated sectors.

The decisions made at this year's AGM not only secure Ghani Chemical Industries' commitment to growth and shareholder value but also ensure strategic alignment with broader industry trends and economic forecasts.