Islamabad – Press Release:
Fauji Fertilizer Company (FFC) held its Annual General Meeting on March 18th, 2021 thus establishing a quorum of 62.5 percent with representation either in person or through Video Conferencing and proxies from individual shareholders as well as from all major equity holders which included Fauji Foundation, State Life Insurance Corporation, Citi Bank, Deutsche Bank, Standard Chartered Bank, NAFA, NIT, APF, Atlas and representatives from various other Corporate bodies and institutions.
Brig Asrat Mahmood, SI(M) (Retd), Company Secretary FFC, opened the house. Chairman, Mr. Waqar Ahmed Malik apprised the shareholders about performance of the Company during the year 2020. All major budgetary targets in terms of production, sales, revenue, finance cost, investment income and net profitability were achieved during the year. The Company was able to achieve the above through ensuring uninterrupted business operations including continued supply chain, besides maintaining highest standards of health and safety for the employees under the adverse conditions of Covid-19.
Chief Executive and Managing Director FFC, Lt Gen Tariq Khan, HI(M) (Retd) while responding to various queries from shareholders, informed the house about goals and future strategy of the Company. He further assured FFC’s commitment to achieve higher standards of performance and to provide sustained earnings to the valued shareholders despite the challenging circumstances.