The Khyber Pakhtunkhwa Economic Zones Development and Management Company (KP-EZDMC) recently held its 7th Annual General Meeting (AGM) at its Head Office, with Captain (Retd) Kamran Ahmad Afridi, Secretary Industries, Commerce & Technical Education, serving as the Chairman. The meeting was attended by various stakeholders, including representatives from the Finance Department, P&D Department, Labor Department, and Environment Department. The Chairman of the Finance and Strategy Committee, Sahibzada Salim Ur Rehman, the Chairman of the Audit & Risk Management Committee, Fayyaz Ahmad Jarral, and the CEO of KP-EZDMC, Javed Iqbal Khattak, along with the finance team, also attended the meeting.
The meeting began with an update on the company’s financial performance. According to a press release issued on Tuesday, the company reported a surplus of PKR 29 million (Rs 35 million in FY2021) with a total income of PKR 1,025 million in FY 2022 (Rs 926.5 million in FY2021). The total assets of the company also increased from PKR 13.0 billion in FY 2021 to PKR 15.8 billion in FY 2022. The Board of Directors acknowledged the company’s financial performance and its steady increase in income and total assets over the past year, which highlights the company’s strong management and commitment to excellence.
The CEO of KP-EZDMC, Javed Iqbal Khattak, briefed the board on the company’s achievements during FY2022, stating that the company generated funds of approximately Rs 3.1 billion, including Rs 541 million received as ADP. The company also launched three new Zones, namely D. I. Khan Economic Zone, Rashakai Special Economic Zone, and Chitral Economic Zone, and allotted an area measuring 219 acres. Moreover, the company contributed around PKR 93 million to the government treasury in the form of duties and taxes.
The Chief Financial Officer (CFO) also shared that the company resolved all qualifications in the Auditors’ reports that were inherited from the Defunct Sarhad Development Authority relating to the early 90s. Furthermore, the KP-EZDMC obtained Pakistan Center for Philanthropy (PCP) Certification for NPO status under Income Tax Ordinance, 2001.
Kamran Ahmed Afridi, Secretary IC&TE, addressed the meeting and expressed his gratitude to the Board of Directors, shareholders, and stakeholders for their support and trust in the company. He appreciated the leadership of Javed Khattak (CEO) and thanked the company’s management team and employees for their hard work and dedication. Afridi emphasized the company’s commitment to driving economic growth in Khyber Pakhtunkhwa and contributing to the region’s development. “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.