Karachi: Calcorp Limited has reported that the country's economic situation has stabilized over the past year, though at weak levels, as outlined in the company's Chairman’s Review. Inflation has been significantly reduced, but the industry has suffered substantial losses, affecting disposable incomes and purchasing power. The reduction in demand, combined with a restrictive monetary policy, has led to low-capacity utilization in the economy.

According to information available from the Pakistan Stock Exchange (PSX), Calcorp's management has focused its efforts on deploying capital only in areas with guaranteed cash flows. The company has maintained its focus on serving the blue-chip corporate vehicle rental market, awaiting more clarity on the country’s economic outlook. While challenges remain, Calcorp's board of directors expressed cautious optimism about potential future opportunities to improve shareholder returns.

The company’s Board, which includes directors with experience across various sectors, has continued to provide strategic direction and oversight. The Board has fulfilled its duties in compliance with the Companies Act, 2017, and the Code of Corporate Governance Regulations, 2019. This includes the approval of key policies, related party transactions, and financial results. In addition, the Board conducted a self-assessment, determining its performance to be satisfactory.

The Board received all relevant agendas and materials in advance of meetings and met regularly to ensure the company's progress. The Chairman extended gratitude to shareholders for their ongoing support and confidence in Calcorp's operations.