The winners of the ‘Top 25 Companies Awards’ for 2022 were announced in a grand ceremony held at the Pakistan Stock Exchange (PSX).
Fauji Fertiliser Company Limited (PSX: FFC), Engro Corporation Limited (PSX: ENGRO), and Systems Limited (PSX: SYS) were the clear favourites and secured the top three positions.
Since 1978, the ‘Top 25 Companies Awards’ have been a defining feature of PSX, providing a prestigious forum for recognising and honouring listed companies’ exceptional achievements.
These honours are given to businesses that have excelled in a number of areas, such as diversity, financial performance, corporate governance, reporting on the Sustainable Development Goals (SDGs), and increasing shareholder value.
Dr. Shamhsad Akhtar, the Federal Minister of Finance, spoke at the event and stressed the importance of rewarding top performers, citing PSX’s longstanding tradition in doing so.
She emphasised the critical role that awards play in recognising and rewarding achievement and creating a healthy competitive environment in the business world.
Dr. Akhtar went on to say that recognition of this kind makes businesses feel more accountable and motivated to improve their corporate governance practices, shifting their emphasis from maximising shareholder wealth to showing real concern for stakeholders.
In order to better serve the country’s environment and citizens, PSX looks forward to the day when businesses embrace Environmental, Social, and Governance (ESG) standards.
The Securities and Exchange Commission of Pakistan (SECP) Chairman stated that the “Top 25 Companies Awards” are evidence of the recipients’ commitment and hard work.
He went over the stringent selection criteria that were used to find the worthy companies. These criteria included both quantitative and qualitative measures.
The top 25 companies, which include Pakistan State Oil Company Limited and Fauji Fertiliser Company Limited, were chosen based on a number of factors, including reporting on enterprise risk management, diversity and inclusion, corporate governance & investor relations, profitability ratio, liquidity ratio, dividend-related ratios, solvency ratio, free-float of shares, turnover of shares, and corporate social responsibilities.
