Lahore: Beco Steel Limited convened its annual general meeting on October 28, 2026, at the Royal Palm Golf and Country Club in Mughalpura, Lahore, where shareholders passed several key resolutions. The meeting, held in the Executive Board Room, addressed both ordinary and special business matters concerning the company's financial and operational framework.

During the meeting, the minutes from the prior year's assembly on October 28, 2025, were confirmed and approved by the attending members. The company also received and adopted the audited accounts along with the Directors' and Auditors' Reports for the financial year ending June 30, 2026.

In a significant move, M/S Malik Haroon Ahmad & Co, Chartered Accountants, were unanimously re-appointed as the statutory auditors for the next financial year ending June 30, 2027. Their remuneration was set at Rs 250,000 for the limited scope review of the second quarter and half-year accounts, and Rs 1,200,000 for the annual audit of the company's accounts.

A special resolution was also passed to ratify and approve transactions conducted with related parties for the year ended June 30, 2026. The board was further authorized to approve related party transactions on a case-to-case basis for the financial year ending June 30, 2027. These transactions will later be presented to the shareholders for formal ratification in the next annual general meeting.

According to information available from the Pakistan Stock Exchange (PSX), Beco Steel Limited operates within the designated market category of the manufacturing sector, focusing on the production and supply of steel products. The resolutions adopted at the meeting are indicative of the company's commitment to maintaining transparency and accountability in its financial dealings while ensuring compliance with industry standards.