Karachi: National Refinery Limited has scheduled the election of directors for its upcoming 61st Annual General Meeting (AGM), set for October 21, 2024, at Karachi, and through electronic means. This election follows the guidelines outlined in the Companies Act, 2017, and the Listed Companies (Code of Corporate Governance) Regulation, 2019.

The positions to be filled during this AGM include seats under various director categories such as Other Directors, Independent Directors, and no nominees for the Female Directors category. According to information available from the Pakistan Stock Exchange (PSX), the candidates nominated include Mr. Laith G. Pharaon and Mr. Wael G. Pharaon among others in the Other Directors category, and Mr. Tariq Iqbal Khan and Mr. Shamim Ahmad Khan for the Independent Directors category.

The absence of nominations in the Female Directors category and the fixed number of directors to be elected, set at seven, mean that those nominated will serve unopposed for a term of three years starting from the date of the AGM. The nominees were chosen based on their qualifications, skills, and prior business experience, meeting the requirements of Section 166 of the Act and the corresponding regulations.

Details about the nominees can be found on the company's website, providing further transparency and accessibility for shareholders and interested parties. The election notice was confirmed in a letter to the Pakistan Stock Exchange, indicating that the notice would be published in leading newspapers on October 12, 2024.