Lahore: Fast Cables Limited has officially announced the uncontested election of seven directors, set to serve for the next three years starting October 26, 2024. The announcement followed the company’s adherence to the Companies Act, 2017 and the Listed Companies (Code of Corporate Governance) Regulations, 2019.

On October 28, 2024, at the Annual General Meeting scheduled at Lahore Chamber of Commerce and Industry, with remote access via Microsoft Teams, the election will formally acknowledge the directors. The elected board comprises two independent directors, one female director, and four other directors, reflecting a diverse board that complies with regulatory requirements.

The directors set to serve are Muhammad Azhar Saeed and Muzzaffar Hayat Piracha as independent directors; Mahlaqa Shaukat as the female director; Ghulam Mustafa Kausar, Mian Ghulam Murtaza Shaukat, Kamal Mahmood Amjad Mian, and Syed Mazher Iqbal as other directors. Their profiles are available on the company’s website, ensuring transparency and access to their qualifications and experiences.

According to information available from the Pakistan Stock Exchange (PSX), the selection process was in strict adherence to Section 159(4) of the Companies Act, ensuring that all directors meet the diverse expertise and competency requirements of Section 166 of the Act. The company has emphasized that these appointments will strengthen governance and strategic oversight at Fast Cables.

Fast Cables Limited, renowned for its role in the cable industry, operates under stringent corporate governance norms to ensure high standards of transparency and accountability in its operations. The new board is expected to continue this legacy, driving the company towards sustained growth and innovation in the industry.