Page 37 - InterloopAnnualReport2021

Independent Directors, fully participated and contributed
to the decision making process of the Board. The Board
performed its duties and responsibilities diligently, inter
alia, by:
• Ensuring that Mission, Vision, and Values of the
Company are being followed;
• Effectively guiding the Company in its strategic
affairs;
• Setting annual goals and targets for the
management;
• Overseeing management’s performance and
focusing on major risk areas;
• Evaluating significant investments;
• Ensuring high standards of Corporate Governance
to preserve stakeholders’ value;

Furthermore, throughout the year, all significant
issues were presented to the Board or its committees,
particularly, all related party transactions of the
Company were approved by the Board on the
recommendation of the Audit Committee. The Audit
Committee and Human Resource & Remuneration
Committee met regularly to strengthen the functions
of the Board. The Board carried out its self-evaluation
and identified potential areas for further improvement,
in line with the global best practices.

As Chairman, I always make sure that the Board stays
pro-active and works closely with the management to
oversee the implementation of the Company’s strategy
and provide counsel and insights wherever required. The
board and the management are fully conscious of the
challenges ahead and are well prepared to tackle them
with the required vision, knowledge, and experience.

On behalf of the Board, I would like to express my
appreciation for the contribution of the Board,
excellent efforts put in by our management and
employees as well as for the support received from
all stakeholders including our valued customers,
suppliers, banks, regulators, and other organizations.
I hope and pray that the Company may maintain the
momentum of growth in the future years.

Musadaq Zulqarnain
Chairman

Faisalabad,
September 15, 2021

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