Burshane LPG Announces Upcoming Director Elections for October 28, 2024

Karachi: Burshane LPG (Pakistan) Limited has formally notified the Pakistan Stock Exchange (PSX) about its upcoming director elections, slated for October 28, 2024. The election will take place at Karachi. The notification was also published in both Nawa-e-Waqt and The Nation newspapers on October 18, 2024.

According to information available from the Pakistan Stock Exchange (PSX), the company, following the requirements under Section 159(4) of the Companies Act, 2017 and Regulation 7A of the Listed Companies (Code of Corporate Governance) Regulations, 2019, has announced the list of candidates. These include Mr. Asad Alam Niazi, Mr. Saiffee Zakiquddin, and Mr. Alam Niazi, all competing in the “Other Directors” category. Additionally, Ms. Shahbano Hameed has been designated as the “Female Director” candidate, showcasing the company’s compliance with the gender diversity requirements under the same regulations.

The board has also named three candidates for the “Independent Directors” category, including Major Gen. (R) Rafiullah Khan Niazi and Brig. (R) Rashid Siddiqi. This move aligns with corporate governance practices aimed at bolstering unbiased decision-making and oversight.

The list of director candidates has been selected from a qualified data bank in accordance with Section 166 of the Companies Act, ensuring a rigorous selection process. As the company has set the number of directors at three for “Other Directors” and one for “Female Director,” these candidates, if unopposed, will be automatically elected at the forthcoming Annual General Meeting.

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