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KARACHI, Aug 12: The joint committee of the Institute of Chartered Accountants of Pakistan (ICAP), Institute of Cost and Management Accountants of Pakistan (ICMAP) Thursday announced the final results for Best Corporate Report Awards 2003.
A statement here on Thursday said that the Chief Guest, Governor, State Bank of Pakistan (SBP) Dr Ishrat Husain awarded the shields to Winners and Runner-ups.
Addressing on the occasion, the SBP governor said that it was a matter of immense satisfaction for him that the ICMAP and ICAP were contributing to raise the standards of corporate governance in the country by initiating Best Corporate Report Awards in Pakistan.
M Ashraf Bawany, Chairman ICMAP and ICAP Joint Evaluation Committee, said that while ranking the nominated companies various criteria were considered which inter-alia included vision, mission, report of directors, disclosures, stakeholder information, report presentation and timeliness in issuing accounts holding AGMs.
The companies, which were judged in six categories, and one is overall top of the top as follows:
TOP OF THE TOP IN ALL SECTORS: Overall First Position Fauji Fertilizer Co. Limited.
OTHER SECTOR WISE POSITIONS
FINANCIAL SECTOR POSITIONS: 1st Askari Commercial Bank Limited; 2nd PICIC; 3rd Faysal Bank; 4th Muslim Insurance Company Limited; 5th No one qualified for this position.
CHEMICAL & FERTILIZER SECTOR POSITIONS: 1st Fauji Fertilizer Co. Limited; 2nd Highnoon Laboratories Limited; 3rd Aventis Limited; 4th Engro Chemical Pakistan Limited; 5th BOC Pakistan Limited.
ENGINEERING SECTOR POSITIONS: 1st Al-Ghazi Tractor Limited; 2nd Siemens (Pakistan) Engineering Company Limited; 3rd Millat Tractors Limited; 4th Bolan Castings Limited; 5th Hinopak Motors Limited.
FUEL & ENERGY SECTOR POSITIONS: 1st Pakistan State Oil Company Limited; 2nd Attock Refinery Limited; 3rd Pakistan Oilfields Limited; 4th Shell Pakistan Limited; 5th No one qualified for this position.
MISCELLANEOUS SECTOR POSITIONS: 1st Nestle Milkpak Limited; 2nd Shakarganj Mills Limited; 3rd Rafhan Maize Products Co. Limited; 4th Pakistan Tobacco Company Limited; 5th Security Papers Limited. There were no winners in the Textile Sector as none of reports came up-to the minimum standard. -APP
