PPL bags Best Corporate Report Award

KARACHI: Pakistan Petroleum Limited (PPL) bagged the Best Corporate Report Award (BCRA) for its Annual Report 2008. The company stood first among five short listed organizations in the fuel and energy sector, scaling up three positions over last year when its report was ranked fourth in the sector. This is the third BCRA that the company has won, the first being in 2005 followed by one in 2007.
The results were announced on June 15 at a ceremony organized jointly by the Institute of Chartered Accountants of Pakistan (ICAP) and Institute of Cost and Management Accountants of Pakistan (ICMAP) that drew a large number of representatives from the accountancy profession, corporate sector and the media. Managing Director and Chief Executive Officer Khalid Rahman received the award from Governor State Bank of Pakistan Syed Salim Raza, who was the chief guest on the occasion. The award affirms PPL’s efforts to adhere to best corporate governance practices and maintain sound and transparent accounting and financial reporting procedures in the interest of the company and its stakeholders. Since its introduction by ICAP and ICMAP in 2000, the BCRAs have garnered increasing prestige and value in the corporate world, especially against the backdrop of globalization that calls for enhancing alignment with international corporate and financial reporting standards.

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