Total Assets Of KP Economic Zones Company Surge To Rs.15.8bn

PESHAWAR, (UrduPoint / Pakistan Point News - 28th Mar, 2023 ) :The 7th Annual General Meeting (AGM) of Khyber Pakhtunkhwa Economic Zones Development and Management Company (KP-EZDMC) held here at the Head Office the other day with Chairman Captain (Retd) Kamran Ahmad Afridi, Secretary Industries, Commerce & Technical education in the chair.

Besides, other stakeholders include the representatives of the Finance Department, P&D Department, Labor Department and Environment Department. Other participants included Chairman Finance and Strategy Committee Sahibzada Salim Ur Rehman, Chairman Audit & Risk Management Committee Fayyaz Ahmad Jarral and Chief Executive Officer KP-EZDMC, Javed Iqbal Khattak, Chief Financial Officer Shahid Iqbal Khattak and Company Secretary Abdul Mussawar Dar along with the finance team attended the meeting, said a press release issued here on Tuesday.

The house was updated that the Company has posted a surplus of PKR 29 million (Rs 35 million in FY2021) with total income of PKR 1,025 million in FY 2022 (Rs 926.5 million in FY2021). The total assets of the company have increased to PKR 15.8 billion in FY 2022 from PKR 13.0 billion in FY 2021.

The Board of Directors appreciated the financial performance of the company for the period ending June 30, 2022. The company's income and total assets have also shown a steady increase over the past year, which is a testament to the company's strong management and commitment to excellence.

In his briefing to the board, the CEO said that the Company has generated funds of around Rs 3.

1 billion in FY2022, which also include Rs 541 million received as ADP. Three new Zones have been launched during the year including D. I. Khan Economic Zone, Rashakai Special Economic Zone and Chitral Economic Zone and an area measuring 219 acres have been allotted. The Company also contributed around PKR93 million to the government treasury in the form of duties and taxes during the year.

On this occasion, the Chief Finance Officer (CFO) shared that the Company has achieved resolution of all qualifications in the Auditors' reports that were mainly inherited from the Defunct Sarhad Development Authority relating to the early 90's. KPEZDMC has now obtained Pakistan Center for Philanthropy (PCP) Certification for NPO status under Income Tax Ordinance, 2001.

Addressing the meeting, Kamran Ahmed Afridi, Secretary IC&TE, expressed his gratitude to the Board of Directors, shareholders, and stakeholders for their support and trust in the company. He appreciated the lead of Javed Khattak (CEO) and thanked the company's management team and employees for their hard work and dedication.

"We are committed to continuing our efforts to drive economic growth in Khyber Pakhtunkhwa and contribute to the development of the region. We believe that our success is a result of our commitment to excellence and our focus on providing our clients with the best possible facilitation," he concluded.