Karachi: Mughal Iron & Steel Industries Limited has announced a key appointment in its internal audit department. Mr. Syed Qaim Ali has been named as the new Head of Internal Audit, effective September 15, 2026. This appointment is in compliance with Regulation No. 5.6.1 (a)(xii) of the Rule Book of the Pakistan Stock Exchange Limited, highlighting the company's commitment to adhering to regulatory requirements.

According to information available from the Pakistan Stock Exchange (PSX), this development has been communicated to the TRE Certificate Holders of the Exchange, ensuring that all relevant parties are informed of the change in leadership within the company's audit department. The appointment of Mr. Qaim Ali is expected to play a critical role in overseeing and strengthening the internal audit processes at Mughal Iron & Steel Industries Limited.

The company did not provide additional details regarding the transition or the strategic implications of this appointment. However, the move underscores the importance of robust internal audit mechanisms in maintaining corporate governance and transparency.