Lahore: In a significant development reported on October 28, 2026, the members of Tariq Glass Industries Ltd. convened for their 48th Annual General Meeting, held both in-person at the company's registered office in Lahore and via video link. The meeting culminated in the approval of several critical resolutions, influencing both the financial and strategic direction of the company.

During the session, shareholders unanimously approved the audited financial statements for the fiscal year ending June 30, 2026. The comprehensive financial package includes the Statement of Financial Position, Statement of Profit or Loss, and other key documents essential for assessing the company's financial health.

Additionally, the reappointment of M/s Crowe Hussain Chaudhury & Co. as the company's statutory auditors for another fiscal year was confirmed. The remuneration for the auditing services will be determined by the Managing Director, allowing an increase of up to 10% over the previous year's audit fee.

In a strategic move under special business, members authorized the renewal of a financial arrangement with Baluchistan Glass Limited. The company is set to renew an investment of up to PKR 1.00 billion in the form of a short-term loan or advance. This financial support is designed to bolster the associated company's operations for another year, with the terms of the loan carrying a return rate of the Average Borrowing Cost of Tariq Glass Industries plus 1% or the 3 Months KIBOR plus 1.50%, whichever is higher.

According to information available from the Pakistan Stock Exchange (PSX), these resolutions mark a critical step towards enhancing Tariq Glass Industries' market presence and sustaining its financial performance.

The meeting concluded with the empowerment of the Managing Director, CEO, and other key company officials to execute all necessary actions to implement these resolutions effectively.