25 firms win awards

The Pakistan Stock Exchange (PSX) announced on Tuesday the names of the recipients of Top 25 Companies Awards for 2022. Fauji Fertiliser Company Ltd topped the list, according to a press release. Other top winners were Engro Corporation Ltd, Systems Ltd, Engro Fertilisers Ltd, Engro Powergen Qadirpur Ltd and Engro Polymer and Chemicals Ltd. Initiated by the exchange in 1978, the awards are given to companies on the basis of their financial performance, governance and operational achievements. Sustainability and Environmental, Social and Governance (ESG)-related initiatives are also a consideration. Key prerequisites for this award include having a minimum dividend distribution of 30 per cent. Also, shares of the company must have traded on at least 75pc of all trading days in a year. Quantitatively, the PSX selects listed companies that have performed exceptionally in terms of profitability ratios, dividend-related ratios and the turnover of shares. Qualitatively, the criteria include Corporate Social Responsibility (CSR), reporting on sustainable development goals (SDGs), ESG-related initiatives, diversity and inclusivity.