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Stakeholders’ Engagement
At POL, a vigorous engagement takes place
to understand and respond to our legitimate
stakeholder concerns. Our key stakeholders are:
•
Shareholders
•
Customers (POLGAS distributors)
•
Suppliers
•
Banks
•
Employees
•
General public
•
Government and Regulatory Authorities
The frequency of engagements is based on
business needs and corporate requirements as
specified by the Code of Corporate Governance,
or as contracted, under defined procedures.
Safeguarding of Records of the
Company
POL effectively ensures the safety of records. All
records are retained as long as they are required
to meet legal, administrative, operational and
other requirements of the Company.
Furthermore, the Company keeps systematic
backup of the record on daily basis for
protection of data and its recovery in case of
any catastrophe.
Information Technology (IT)
Governance Policy
POL has implemented an IT Governance Policy.
The Policy forms the operating guidelines for
securing the Company’s IT resources and also
reduces Company’s exposure to information
practices that may compromise data availability,
confidentiality and integrity.
Board Review of Business
Continuity / Disaster Recovery
Plan
The board ensure that effective Business
Continuity / Disaster Recovery plan for the
Company’s is in place which provides a
structured approach to minimize the impact of a
disaster and an efficient way for continuation of
company’s activities.
Operating Segments
The financial statements have been prepared
on the basis of a single reportable segment.
Revenue from external customers for products
of the Company is disclosed in note-34 of the
financial statement.
Revenue from two major customers of the
Company constitutes 66%of the total revenue
during the year ended June 30, 2020 (2019: 71%).
OTHER CORPORATE GOVERNANCE
80
PAKISTANOILFIELDS LIMITED