MPCL Wins 1st Prize for Management Practices (Oil & Gas Sector) at 35th Corporate Excellence Awards
For the 4th consecutive year, MPCL has won 1st Prize for the Best Management Practices in Oil & Gas Sector. The Award was conferred at 35th Corporate Excellence Awards Ceremony arranged by the Management Association of Pakistan (MAP) on Monday, March 09, 2020 at Marriott Hotel, Karachi. Mr. Asad Umar, Federal Minister for Planning, Development & Special Initiatives was the Chief Guest of the Ceremony, which was attended by a large number of dignitaries from the corporate world.
The Corporate Excellence Awards were instituted by MAP in 1982 with the aim to recognize and honour companies for demonstrating progressive and enlightened management practices.
The evaluation for the Awards comprised of the following four phases:
- shortlisting on the basis of dividend payouts during the last three years
- detailed financial assessment
- review of management practices, and
- Management interviews
A comprehensive questionnaire was sent by MAP to the 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 MPCL Head Office and held detailed meeting with top management of the company.
In order to ensure objectivity, a neutral third party consultant was hired by MAP to carry out the interviews/evaluations and compile the results.
MPCL had first qualified for the Awards in 2016-17 and since then has emerged winner in the Oil & Gas Sector every year.
The Award is a manifestation of Management’s commitment to excellence in each and every sphere of the Company’s operations.