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Karachi: Ghani Global Group’s Chairman delivered a comprehensive review of the board’s effectiveness and the company’s adherence to corporate governance standards over the past fiscal year, emphasizing strategic leadership and risk management amid economic turbulence.
According to information available from the Pakistan Stock Exchange (PSX), the board has played a crucial role in steering the company through macroeconomic shifts and supply chain disruptions, implementing measures to mitigate their impact. The review highlighted the board’s routine evaluations of the company’s financial statements and governance protocols, which include transparency of disclosures and compliance with regulatory standards.
The board’s composition, characterized by diverse backgrounds, has enhanced its capability to provide quality strategic direction, crucial for navigating current market uncertainties. Furthermore, the company has fortified its internal controls and corporate governance practices, reflecting the board’s commitment to high standards of honesty and integrity.
Subcommittees such as the Human Resource & Remuneration Committee and the Audit and Risk Management Committee have been particularly effective, operating within legal frameworks and supporting the board’s oversight functions. These committees play a vital role in maintaining the company’s governance and risk assessment standards.
The annual evaluations of the board and its subcommittees have been positive, ensuring the board possesses the necessary skills to lead the company effectively. Areas for improvement identified during these evaluations have been addressed to enhance board performance continually.
In closing, the Chairman extended gratitude to the outgoing directors for their service and welcomed new members, whose expertise in governance and strategy is expected to contribute significantly to the company’s success. He also thanked the shareholders for their ongoing trust and the employees for their dedication and efforts towards the company’s objectives.