Karachi: Power Cement Limited convened its 34th Annual General Meeting on October 14, 2025, at the PSX Auditorium in Karachi, marking key decisions regarding the company's financial and administrative future. The meeting, conducted in compliance with Regulation No. 5.6.9 (b) of the Pakistan Stock Exchange Limited's Rule Book, saw the approval of several resolutions by the attending members.
During the ordinary business proceedings, the minutes from the previous year's annual meeting, held on October 24, 2024, were confirmed. The company also presented and adopted the annual audited financial statements for the fiscal year ending June 30, 2025. According to information available from the Pakistan Stock Exchange (PSX), these statements were accompanied by reports from the directors and auditors, which received unanimous approval from the members.
Further, the meeting confirmed the reappointment of M/s. A.F. Ferguson & Co. as the company's external auditors for the year ending June 30, 2026. Their remuneration was also fixed as part of the ordinary business resolutions.
In a significant administrative development, the company elected seven directors for a three-year term, commencing October 28, 2025. The elected individuals are Mr. Muhammad Arif Habib, Mr. Nasim Beg, Mr. Abdus Samad, Syed Salman Rashid, Mr. Khursheed Anwer Jamal, Mr. Khalilullah Shaikh, and Ms. Zainab Kashif.
The assembly also addressed special business concerning related party transactions. The transactions executed during the year ending June 30, 2025, were ratified and approved. Additionally, the company authorized future arrangements with related parties for the upcoming fiscal year, ending June 30, 2026. Transactions may include the sale and purchase of goods, services, fees, and financial agreements such as loans and investments. Certain directors, due to shared directorships, have interests in these transactions, prompting the need for explicit authorization by the board and subsequent member ratification in the next annual meeting.
These decisions are poised to shape Power Cement Limited’s strategic direction and operational efficiency in the coming years, aligning with the company's commitment to transparency and regulatory adherence.