MPCL Wins 1st Prize in Oil & Gas Sector at 32nd Corporate Excellence Awards
MPCL has won 1st Prize in Oil & Gas Sector at 32nd Corporate Excellence Awards arranged by the Management Association of Pakistan (MAP). The Awards Ceremony was held on Tuesday, February 28, 2017 at Marriott Hotel Karachi and was attended by a large number of dignitaries from the corporate world. Justice (R) Rasheed A. Rizvi, President Supreme Court Bar Association was the Chief Guest.
This was the first time MPCL participated in the Awards and managed to win the coveted prize. Mr. Assad Rabbani, GM Corporate Affairs received the winner’s trophy on MPCL’s behalf.
The Corporate Excellence Award was instituted by the Management Association Pakistan in 1982 with the aim to recognize and honor companies showing outstanding performance and demonstrating progressive and enlightened management practices.
The evaluation for the Awards comprised of four phases. In the first phase companies were shortlisted on the basis of dividend payouts during the last three years. In the second phase detailed financial assessment of the shortlisted companies was carried out. In the third phase, management practices of the companies were reviewed.
A comprehensive questionnaire was sent to shortlisted companies. The questionnaire covered the areas such as corporate governance, strategic planning & communication, leadership, social responsibility, customer and market focus, human resource focus, operations management, information/risk management, I.T governance, I.T infrastructure, I.T service delivery, and I.T security. After receipt of duly filled in questionnaire, MAP team visited sites and held detailed meetings with top management of each short-listed company. The purpose of these meetings was to verify and obtain a vital, face to face view of the responses to questionnaire. During these meetings the MAP team not only discussed the management practices but also witnessed the evidence of claims made in the questionnaires as well as policy documents. After the management meetings the questionnaires were marked and results were compiled.
In order to ensure objectivity, a neutral third party consultant was hired by MAP to carry out the evaluations and compile the results.
The Award is a result of MPCL’s commitment to excellence in each and every sphere of the Company’s operations.