Karachi: Shareholders of Hascol Petroleum Limited convened for their 23rd Annual General Meeting, both in-person and virtually, on June 11, 2025. The meeting resulted in the passage of several significant resolutions, aligning with the company's strategic and operational directives.

The assembly confirmed the minutes from the previous gathering held on July 24, 2024. Furthermore, the annual audited financial statements for the fiscal year ending December 31, 2024, along with reports from directors, auditors, and the chairman's review, received approval. This indicates a thorough examination and acceptance of the company's financial performance and governance over the past year.

In a critical decision affecting the financial oversight of the company, M/s. Baker Tilly Mehmood Idrees Qamar, Chartered Accountants, was appointed as the external auditors for the upcoming financial year ending December 31, 2025. The Chief Executive Officer has been authorized to determine the auditors' remuneration, ensuring a structured financial accountability framework.

According to information available from the Pakistan Stock Exchange (PSX), these resolutions are part of the ordinary business conducted at the meeting. The PSX operates under a designated market category, ensuring regulated and transparent trading practices.

In terms of administrative actions, the company's Secretary has been entrusted with completing the necessary secretarial formalities and distributing certified copies of the resolutions. This procedural step ensures that all legal and regulatory requirements are met promptly.

The meeting reflects Hascol Petroleum Limited's ongoing commitment to maintaining robust corporate governance and financial integrity, as evidenced by the resolutions passed.