Karachi: Sakrand Sugar Mills Limited has announced its Board of Directors' decision to commence the development of a Biomass Pallet Plant, as disclosed in a circular resolution dated February 13, 2025. This decision is part of the Company's strategic initiatives aimed at diversifying its by-products, optimizing resource utilization, and enhancing value creation for stakeholders. The development aligns with Sakrand Sugar Mills' growth objectives and its commitment to sustainability.

According to the announcement, the decision was made in compliance with the Pakistan Stock Exchange (PSX) Rule Book and regulations for the timely disclosure of material information. The Company has instructed its secretary to ensure the prompt communication of this development to the PSX, in line with the applicable laws.

February 13, 2025, marks the official approval date by the Board of Directors through a circular resolution, which is an action permitted under the Articles of Association of Sakrand Sugar Mills Limited. The Board resolved that the development of the Biomass Pallet Plant represents a strategic step towards achieving the Company's growth objectives while contributing to environmental sustainability and business diversification.

"According to information available from the Pakistan Stock Exchange (PSX)", this initiative is recognized as a significant move in the company's strategy. The resolution emphasizes the importance of this development in Sakrand Sugar Mills' broader plan to enhance resource utilization and create additional value for its stakeholders.

The designated market category for this disclosure remains pivotal as Sakrand Sugar Mills Limited continues to strategize for sustainable growth. The Company has assured that all necessary disclosures will be made to the PSX in compliance with the relevant regulations, ensuring transparency and timeliness in communication with the TRE Certificate Holders of the Exchange.