According to a notification to the Pakistan Stock Exchange (PSX), Pioneer Cement Ltd has announced that its shareholders, at the company’s 40th Annual General Meeting held on 15 September 2026, unanimously approved both ordinary and special business resolutions.
Key decisions included adopting the audited financial statements for the year ended June 30, 2026, and reappointing KPMG Taseer Hadi & Co as auditors for the next financial year.
In a significant move under special business, the company authorised an investment in the form of loans and advances to its holding company, Maple Leaf Cement Factory Ltd, up to an aggregate sum of PKR4bn (US$14.4m) for one year. The facility will carry a mark-up of one percent above three-month KIBOR or the company’s average borrowing cost, whichever is higher.
The Chief Executive Officer and Company Secretary were empowered to complete all necessary corporate and legal formalities to execute the transaction
Pioneer Cement Plant is located at Chenki, at a distance of 40km from Khushab and 34 Km from Jauharabad. Its privileged location in central Punjab allows easy and fast access to the market.
by Abdul R. Siddiqi, Pakistan
