The Management Association of Pakistan (MAP) organised the 38th Corporate Excellence Awards (CEA) Ceremony in Karachi on Wednesday, October 4, 2023. Minister of Industries and Commerce and Revenue, Government of Sindh, Mr. Younus Dagha, was the Chief Guest who distributed awards among the winners.
The trophy winner in the Financial Category was Meezan Bank Limited, while Lucky Cement Limited was the trophy winner in the Industrial Category. Winners in the Financial sector were OLP Modaraba (Modarabas), OLP Financial Services Pakistan Ltd. (Leasing Companies), Bank Alfalah Limited (Commercial Banks), Jubilee General Insurance Company Ltd. (Non-life Insurance), and EFU Life Assurance Ltd. (Life Insurance). Winners in the Industrial Sector were: Feroze 1888 Mills Ltd. (Textile Composite), Al-Abbas Sugar Mills Ltd. (Sugar & Allied Industries), Cherat Cement Co. Ltd. (Cement), Hub Power Company Ltd. (Power Generation and Distribution), Pakistan State Oil Company Ltd. (Oil & Gas Marketing Companies), Mari Petroleum Company Ltd. (Oil & Gas Exploration Companies), International Steels Ltd. (Engineering), Pakistan Cables Ltd. (Cable and Electrical Goods), Indus Motor Company Ltd. (Automobile Assembler), Thal Ltd. (Automobile Parts and Accessories), Pakistan International Container Terminal Ltd. (Transport), Engro Fertilizers Ltd. (Fertilizer), Abbott Laboratories (Pakistan) Ltd. (Pharmaceuticals), Archroma Pakistan Ltd. (Chemical), Security Papers Ltd. (Paper and Board), and Colgate Palmolive (Pakistan) Ltd. (Food and Personal Care Products. The runner-up companies were awarded the Certificates of Corporate Excellence.
On the 38th CEA, President MAP Talib Syed Karim said that to steer Pakistan back on the path of prosperity, we must play our part. Our nation has faced numerous trials over the decades, and we possess the intellect, resources, workforce, capital, and industrial technology required to move toward our objectives. “The Corporate Excellence Awards aspire to guide the industry in managing capital and human resources effectively, paving the way for leadership and serving as a beacon for those companies aspiring to achieve the same,” he added. He added that companies operating in any domain must revolutionise their operations by inculcating technology and its wonders for accelerated growth. “Artificial intelligence is the new frontier for companies aiming for excellence, as scientists and engineers envision a future that will usher us into the next era of the Industrial Revolution,” he accentuated.
While addressing the gathering, Mr. Younus Dagha shared an overview of Pakistan’s current economic situation and how to bring Pakistan out of this predicament. He urged the stakeholders to upgrade Pakistan’s economic mechanisms to align with global trends and foster development. Mr. Dagha stressed educational restructuring in Pakistan’s course syllabus to align it with global trends, especially those relevant to Silicon Valley. He asserted that initiatives to attract foreign and domestic investment must be implemented and emphasised the importance of infrastructure development for economic growth. He underlined the importance of capacity building to enhance individuals’ and institutions’ skills, knowledge, and capabilities for good governance. He called for the major players in the industrial sector to enhance their capacity to adhere to market needs and compete in the region and the world.