Karachi: Agha Steel Industries Limited, a key player in the market category of steel manufacturing, successfully conducted its 12th Annual General Meeting on Wednesday, October 28, 2026, at its Port Qasim facility, with the option of virtual attendance.
The meeting saw the participation of major shareholders, including Hussain Iqbal Agha, who holds 151.95 million shares, Raza Iqbal Agha with 145.55 million shares, and Shazia Agha possessing 110.36 million shares. A minor shareholder, Muhammad Asif, was also present with 56,194 shares.
Key resolutions were meticulously addressed, beginning with the confirmation of the minutes from the previous year's Ordinary Annual General Meeting. The shareholders approved and adopted the annual audited financial statement for the fiscal year ending June 30, 2026, along with the associated reports from the auditors and the Chairman.
A significant agenda item involved the reappointment of M/s. Reanda Haroon Zakaria Aamir Salman Rizwan & Co. as the company's statutory auditors for the financial year ending June 30, 2027. Their remuneration is to be determined by the Board of Directors.
The election of seven directors, as outlined in the provisions of Section 159 of the Companies Act, 2017, was a focal point of the meeting. The retiring directors, including Ms. Shazia Iqbal Agha, Mr. Hussain Iqbal Agha, and others, were set to be replaced. However, the number of nominees equaled the available positions, resulting in an unopposed election of the candidates. The newly elected directors are Ms. Shazia Iqbal Agha, Mr. Hussain Iqbal Agha, Mr. Raza Iqbal Agha, Mr. Farhad Karamally, Mr. Haider Wahab, Mr. Saeed A Mirza, and Mr. Muhammad Asif Sheikh. They will serve a term of three years commencing March 31, 2024.
According to information available from the Pakistan Stock Exchange (PSX), Agha Steel Industries Limited remains a significant entity within the steel manufacturing sector, demonstrating consistent governance and strategic planning through its annual meetings and elections. The newly appointed board is set to steer the company towards continued growth and industry leadership.