PPL clinches Best Corporate Report Award  

KARACHI, NOVEMBER 11, 2011: Pakistan Petroleum Limited (PPL) bagged the Best Corporate Report Award (BCRA) in the Fuel and Energy sector for its Annual Report 2010. The company stood first among five shortlisted organizations for the third year in a row. This is the fifth BCRA that PPL has won, the first being in 2005, followed by 2007, 2008 and 2009.  

The results were announced on November 11 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.

Managing Director and Chief Executive Officer Asim Murtaza Khan received the award from President, South Asian Federation of Accountants (SAFA) A. N. Raman, who was the chief guest on the occasion. Chairman PPL Board Hidayatullah Pirzada, DMD Khalid Rahman, SGM Fasih-uz-Zaman and GMF and CFO Kamran Wahab Khan also attended the event.

The company achieved another distinction by being nominated for the SAFA Best Presented Accounts and Corporate Governance Disclosures Award in the manufacturing sector. PPL is one of 18 other companies that will receive the award at an event scheduled on November 29 in Dhaka, Bangladesh.

The awards affirm 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. The BCRA recognizes the best annual reports in terms of accuracy, transparency and financial and other disclosures.