Karachi: Engro Polymer and Chemicals Limited announced the resolutions passed at its 27th Annual General Meeting held on March 26, 2025. The meeting, attended by company members, resulted in the approval of key financial and operational decisions.

The company's audited financial statements for the year ending December 31, 2024, were approved. These include both standalone and consolidated financial statements, along with related reports from directors, auditors, and the chairman. This approval aligns with compliance requirements under the Listed Companies (Code of Corporate Governance) Regulations, 2019.

In addition, the meeting confirmed the re-appointment of A. F. Ferguson and Co., Chartered Accountants, as the external auditors for 2025. Their remuneration will be determined through mutual agreement, with additional federal or provincial taxes and out-of-pocket expenses to be reimbursed at actual costs.

A significant resolution involved shareholder approval for extending intercompany loan facilities. Engro Polymer and Chemicals Limited will provide up to PKR 5 billion to its holding company, Engro Corporation Limited. This financial arrangement, structured as a revolving line of credit, adheres to Section 199 of the Companies Act, 2017, and will remain valid for one year from the resolution's date.

According to information available from the Pakistan Stock Exchange (PSX), these resolutions reflect strategic financial planning and corporate governance adherence by Engro Polymer and Chemicals Limited. The company's actions aim to ensure operational stability and support its associated undertakings.