chairman's messageHussain Dawood

chairman's message

dear shareholders,

It is my privilege to write to you once more. For fifteen years, I have been entrusted with the responsibility to serve on the Board of Directors, and during this period I have endeavoured to shape an organisation culture where principle-centred leadership drives business strategy. Principles are needed to maintain consistency in all things, in life and in work. At Engro, we strive to have impeccable character, and live by the highest standards of integrity, thus inspiring trust from others. We endeavour to serve our country, community, and company with humility, and strong belief in the dignity and value of people. We also care deeply about environmental impact and safety of people.

Our country needs business leaders. Leadership is the example we set every moment of our lives. Not because we need to lead others, but because we believe in setting the highest standards of self-respect. As I reflect on the most difficult period in my life, when our new fertilizer project was unable to fulfil our financial obligations, and we were being pushed towards bankruptcy, it was uncompromising adherence to character that guided our decision-making in this time of hardship. Alhamdulillah, we went on to successfully re-negotiate the loans, and establish the foundation for performance.

We believe the role of the Board is as important as the Management and each have their part to play in the leadership of the organization. The Board needs to be far-sighted in its role, while the Management’s responsibility is to deliver results. It is my privilege to share that the composition of the current Board includes Directors with competencies in developing vision, leadership, digital innovation, entrepreneurship, risk assessment, infrastructure project implementation, and, effective governance framework.

The development of our people is our highest priority. At Engro, we endeavour to institutionalise learning in an enabling environment where talent is identified and nurtured, as this will contribute to the Company’s ambition to be globally competitive.

Engro endeavours to encourage FDI in our country by growth initiatives with international partners such as FrieslandCampina, Royal Vopak, Mitsubishi, China Machinery Engineering Corporation, GEL Nigeria, International Finance Corporation, and Asian Development Bank.

Engro’s landmark investment endeavour towards affordably reducing Pakistan’s energy deficit through development of indigenous sources, through a successful public-private partnership in Sindh has been cited in numerous publications and was reported by the ‘Economist’ in an article dated 8th Feb 2018. Engro’s passion to serve our country is evident in the rapid progress in development of housing, health, education, technical training, water, and environmental resources for the Thari community.

The Board carried out the annual review of its effectiveness and performance on a self-assessment basis. The overall performance of the Company is a manifestation of service to the stakeholders and society, and every Director has made a valuable contribution towards this end.

On behalf of the Board, it is a distinct pleasure for me to express my gratitude to you for the enduring trust and confidence reposed in us these many years.

Hussain Dawoodchairman