Islamabad: First National Equities Limited (FNEL) has issued a review report highlighting significant economic stabilization and growth during the fiscal year 2024. According to information available from the Pakistan Stock Exchange (PSX), the company has embraced best practices in governance, contributing to robust macroeconomic achievements and fiscal consolidation.

During FY2024, Pakistan's economy witnessed measurable growth, with the GDP at current market prices reaching Rs. 106.045 billion, an increase of 26.4 percent over the previous year. This performance was supported by an impressive control of the fiscal deficit, maintained effectively within manageable limits, alongside a marked improvement in foreign exchange reserves, which ascended to $14.60 billion by the end of May 2024.

The review specifically notes the Board of Directors' adherence to the 2019 Listed Companies (Code of Corporate Governance) Regulations, enhancing the company's operational and strategic frameworks. The Board's initiatives have also fostered transparency and accountability, critical to sustaining investor confidence and compliance with regulatory requirements.

Despite challenging global economic conditions and a tough business climate, FNEL has maintained a steady path under the strategic leadership set forth by the Board. The company remains optimistic about its future prospects, fueled by a dedicated team committed to upholding the highest standards of corporate governance and financial stewardship.

FNEL's strategic focus and operational successes in FY2024 are set to serve as a foundation for continued growth and resilience in the coming years. The firm asserts that the best of its achievements are yet to come, underscoring a commitment to ongoing improvement and excellence.