Karachi: Abdullah Shah Ghazi Sugar Mills Limited has released its annual report for the fiscal year ended September 30, 2024, reflecting a commendable performance by the Board of Directors and its committees in steering the company towards its objectives. The report, disclosed by the Chairman, highlighted the Board’s role in corporate governance and strategic management.

The Board, composed of a diverse group of independent, non-executive, executive, and female directors, has been constituted in accordance with the Listed Companies (Code of Corporate Governance) Regulations, 2019, and the Companies Act, 2017. According to information available from the Pakistan Stock Exchange (PSX), the company remains an active player in the sugar industry sector, contributing significantly to the market.

In the report, the Board emphasized its commitment to corporate governance, stating that it is responsible for managing the company’s affairs and formulating significant policies. The Board has established two key committees: the Audit Committee and the Human Resource and Remuneration Committee, both composed of qualified individuals tasked with specific roles and responsibilities.

The annual review process, conducted on a self-assessment basis after the fiscal year closure, indicated a satisfactory performance and effectiveness of the Board and its committees. The Board reiterated its awareness of corporate social responsibility, particularly in areas of education, health, safety, and the environment, and expressed satisfaction with the efforts made in these domains.

Looking ahead, the Board aims to continue guiding the company’s success and performance, ensuring operations align with approved strategies while upholding the principles of good corporate governance.