Karachi: Shahtaj Sugar Mills Limited has announced that its Board of Directors’ performance for the financial year ending 30 September 2024 has been rated as satisfactory, following an annual evaluation conducted as per the requirements of the Code of Corporate Governance. This evaluation aims to measure and benchmark the Board’s overall performance and effectiveness in alignment with the company’s set objectives.

The assessment, conducted by the Chairman, highlighted that while the overall performance was satisfactory, there is always room for improvement. The evaluation focused on several key aspects, including monitoring business activities, financial resource management, fiscal oversight, fair treatment of employees, and the efficient execution of the Board’s responsibilities.

According to the report, the Board of Directors received relevant agenda and supporting documents well in advance of their meetings, enabling them to prepare adequately. This ensured that both Executive and Non-Executive Directors, as well as Independent Directors, participated actively in important decision-making processes.

According to information available from the Pakistan Stock Exchange (PSX), Shahtaj Sugar Mills Limited continues to maintain its position within the designated market category, reflecting the company’s robust governance structures and effective management strategies.

The Board meets frequently enough to fulfill its responsibilities, and the ongoing processes for improvement are set to continue with action plans designed to further enhance performance. The company’s commitment to effective governance and fiscal oversight remains a priority as it navigates the challenges and opportunities in the market.