Pakistan Company News

Election of Directors of Tariq Corporation

Karachi, Tariq Corporation informed Pakistan Stock Exchange that the seven members have been re-elected as Directors of the Company for a term of three years commencing from April 01, 2023 in their Extraordinary General Meeting of the Shareholders of the Company held on March 31, 2023.

Tariq Corporation was incorporated on February 14, 1966 in Karachi and received its Certificate for Commencement of Business on April 16, 1966. The Company formerly known as Hussein Sugar Mills Limited, is principally engaged in the business of production and sale of sugar and by products.

The plant is located in Jaranwala, approximately 80KM from Lahore. The area has large tracts of land where sugarcane is cultivated and produces approximately 40-45 million mounds of sugarcane a year.

The total numbers of shares are 38,520,000. The Earnings per share is (7.43) in 2020 which was 9.05 in 2019. The Profit after Taxation of the Company is (286,206,000) in 2020 which was 293,543,000 in 2019.