PPL bags Best Corporate Report Award 

Karachi, October 9, 2012: Pakistan Petroleum Limited (PPL) bagged the Best Corporate Report Award (BCRA) in the Fuel and Energy sector for its Annual Report 2011. The company stood first among five shortlisted organizations. PPL was also adjudged as runner-up across all sectors.

This is the sixth BCRA that PPL has won, the first being in 2005, followed by four consecutive wins in 2007, 2008, 2009 and 2010. In addition, the company also bagged the South Asian Federation of Accountants (SAFA) Award for 2009 and 2010.

The results were announced on October 8 at an event 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 finance and corporate sectors.

PPL’s GMF and CFO Kamran Wahab Khan received the Fuel and Energy category award from Secretary General, Overseas Investors Chamber of Commerce and Industry M. Abdul Aleem and the runner-up award from Muhammad Rafi, President SAFA, both of whom were guests of honour at the occasion. The award affirms PPL’s adherence to best corporate governance practices and transparent accounting and financial reporting procedures in the interest of its stakeholders. 

Since its introduction by ICAP and ICMAP in 2000, the BCRAs have gained increasing prestige in the corporate world and played a key role in raising standards of financial and corporate reporting in the country. The BCRA recognizes best annual reports in terms of accuracy, transparency and financial and other disclosures in line with best practices.