Faisalabad: Ashfaq Textile Mills Ltd. held its 38th Annual General Meeting at its registered office on Jaranwala Road on Tuesday, October 27, 2026, adhering to the designated market category. The meeting saw members convening to address key resolutions, providing an insight into the company's ongoing governance and future financial oversight.

During the ordinary business segment of the meeting, attendees approved the minutes from the previous Annual General Meeting held on October 28, 2025. The approval was formalized through Resolution No. 1, confirming the acceptance of the documented proceedings from the last session.

A significant portion of the meeting involved the review and approval of the Audited Financial Statements for the year ending June 30, 2026. The financial documents, accompanied by the Auditors and Directors Reports, were presented to the members. According to information available from the Pakistan Stock Exchange (PSX), the members unanimously adopted Resolution No. 2, endorsing the financial statements along with the associated reports.

The appointment of external auditors was also on the agenda, with members discussing and finalizing the selection for the upcoming financial year ending June 30, 2027. Resolution No. 3 was passed, appointing RSM Avais Hyder Liaqat Nauman Chartered Accountants as the company's auditors. The Chief Executive was granted the authority to negotiate and finalize their remuneration, ensuring the continuation of sound financial auditing practices.

The meeting underscored Ashfaq Textile Mills Ltd.'s commitment to maintaining transparency and adherence to regulatory standards, as evidenced by the resolutions passed.