Karachi: The 58th Annual General Meeting of Fazal Cloth Mills Ltd. has resulted in the adoption of the annual audited financial statements for the year ended June 30, 2023, and the appointment of M/s ShineWing Hameed Chaudhri and Co. as the company’s auditors. Held on October 28, 2023, the meeting saw resolutions passed and adopted, which have now become effective in accordance with clause 5.6.9.(b) of Pakistan Stock Exchange Regulations.

The members of Fazal Cloth Mills Ltd. resolved to consider, receive, and adopt the Annual Audited Financial Statements of the company for the year that ended on June 30, 2023. This included the Chairman's Report, Directors' Report, and the Auditors' Report, all of which had previously received approval from the Board of Directors.

Additionally, the company resolved to appoint M/s ShineWing Hameed Chaudhri and Co., a firm of Chartered Accountants, as the Auditors of Fazal Cloth Mills Ltd. Their term will extend until the conclusion of the next annual general meeting, with the Chief Executive of the company being authorized to fix their remuneration.

The resolutions that were passed during this annual general meeting reflect key decisions in the governance and financial oversight of Fazal Cloth Mills Ltd. as the company moves forward into the next fiscal year.