Karachi: Gammon Pakistan Limited has officially approved several key financial resolutions and elected a new board of directors during its 79th Annual General Meeting, held on October 28, 2026. This meeting marked significant decisions for the company's governance and financial strategies.
According to the resolutions passed, the minutes from the previous Annual General Meeting on November 27, 2025, were confirmed. Additionally, the company's financial statements for the fiscal year ending June 30, 2026, were adopted. This includes the Statement of Financial Position and the Statement of Profit or Loss, alongside the Chairman's Review and the Directors and Auditors Reports.
The company has also directed the filing of the Annual Audited Financial Statements with the Securities & Exchange Commission of Pakistan. This filing is to be completed in accordance with the Companies Act, 2017.
In financial matters, the company approved the Fixed Assets Schedule and significant transactions involving payables and receivables. Specifically, PKR 15,879,498 in payables were written back, and PKR 20,772,422 in receivables were written off for the year ending June 30, 2026.
A new auditing firm, M/S Rizwan & Co., Chartered Accountants, was appointed as the company's auditors for the upcoming fiscal year, ending June 30, 2027. The CEO, Mr. Khalid Kuli Khan Khattak, has been given the authority to determine their remuneration.
Significant changes in the company's leadership were also made, with the election of seven directors to serve a three-year term starting November 1, 2026. The elected board members include Lt Gen Ali Kuli Khan Khattak (Retd), Mr. Khalid Kuli Khan Khattak, Mrs. Ayesha Alamzeb Durrani, Mr. Muhammad Kuli Khan Khattak, Mr. Sikandar Kuli Khan Khattak, and two independent directors, Mr. Abdul Samad Khan and Mr. Humayun Malik.
According to information available from the Pakistan Stock Exchange (PSX), these developments are part of Gammon Pakistan Limited's ongoing efforts to strengthen its governance and financial management. The company's actions are in line with regulatory requirements and aim to enhance shareholder value.