Faisalabad: The 38th Annual General Meeting of Ashfaq Textile Mills Ltd. took place on October 27, 2026, at the company's headquarters on Jaranwala Road, Faisalabad. The meeting, chaired by Mr. Aqeel Idrees, proceeded with the necessary quorum, as confirmed by the presence of key company officials and stakeholders.

The first order of business was the approval of the minutes from the previous annual meeting held on October 28, 2025. The minutes were read by the Chairman, and following the absence of comments from the attendees, the minutes were approved. This motion was proposed by Mr. Ashfaq Ahmad and seconded by Mr. Nadeem Ashfaq, culminating in Resolution No. 1.

Subsequently, the meeting addressed the audited financial statements of Ashfaq Textile Mills for the fiscal year ending June 30, 2026. The financial documents, alongside the auditors' and directors' reports, were presented to the members. According to information available from the Pakistan Stock Exchange (PSX), the company’s performance and financial health were discussed in detail. The members unanimously approved and adopted the financial statements and directors' report, with a motion proposed by Mr. Waseem Ashfaq and seconded by Mr. Nadeem Ashfaq, leading to Resolution No. 2.

The assembly then considered the appointment of external auditors for the fiscal year 2026-27. RSM Avais Hyder Liaqat Nauman, Chartered Accountants, were proposed and unanimously appointed as the auditors. The resolution regarding their appointment allowed the Chief Executive to negotiate and finalize their remuneration, marking it as Resolution No. 3.

The meeting concluded without any additional business, and a vote of thanks was extended to the chair, marking the end of the session. The engaged discussions and resolutions underscored the company's commitment to maintaining transparency and robust financial oversight within the designated market category.