Pakistan Petroleum Limited (PPL) bags top slot at Best Corporate Report Awards

Karachi, October 23, 2010: Pakistan Petroleum Limited (PPL) bags top slot at Best Corporate Report Awards

Pakistan Petroleum Limited’s (PPL) Annual Report 2009 was chosen as the best in all sectors at the Best Corporate Report Awards (BCRA). The company also stood first among five shortlisted organizations in the Fuel and Energy sector for the second year in a row. This is the fourth BCRA that the company has won, the first being in 2005, followed by 2007 and 2008.

The results were announced on October 22 at an event organized jointly by the Institute of Chartered Accountants of Pakistan and Institute of Cost and Management Accountants of Pakistan that drew a large number of representatives from the finance and corporate sectors as well as the media.

Managing Director and Chief Executive Officer Khalid Rahman, accompanied by PPL’s senior management, received the award from Dean, Institute of Business Administration and former governor State Bank of Pakistan Dr. Ishrat Hussain, who was the chief guest on the occasion.

The award affirms PPL’s adherence to best corporate governance practices 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 gained increasing currency and prestige in the corporate world and played a key role in raising standards of financial and corporate reporting in the country. These BCRAs recognize the best annual reports in terms of accuracy, transparency and financial and other disclosures.