Page 85 - Pakistan Oilfields Limited - Annual Report 2021
P. 85
OTHER CORPORATE GOVERNANCE
Stakeholders’ Engagement Information Technology (IT)
At POL, a vigorous engagement takes place Governance Policy
to understand and respond to our legitimate
stakeholder concerns. Our key stakeholders are: POL has implemented an IT Governance Policy.
The Policy forms the operating guidelines for
• Shareholders securing the Company’s IT resources and also
• Customers (POLGAS distributors) reduces Company’s exposure to information
• Suppliers practices that may compromise data availability,
• Banks confidentiality and integrity.
• Employees
• General public Board Review of Business
• Government and Regulatory Authorities Continuity / Disaster Recovery
The frequency of engagements is based on Plan
business needs and corporate requirements as
specified by the Code of Corporate Governance, The board ensure that effective Business
or as contracted, under defined procedures. Continuity / Disaster Recovery plan for the
Company’s is in place which provides a
structured approach to minimize the impact of a
Safeguarding of Records of the disaster and an efficient way for continuation of
Company company’s activities.
POL effectively ensures the safety of records. All
records are retained as long as they are required Operating Segments
to meet legal, administrative, operational and The financial statements have been prepared
other requirements of the Company. on the basis of a single reportable segment.
Revenue from external customers for products
Furthermore, the Company keeps systematic of the Company is disclosed in note-32 of the
backup of the record on daily basis for financial statement.
protection of data and its recovery in case of
any catastrophe. Revenue from two major customers of the
Company constitutes 67% of the total revenue
during the year ended June 30, 2021 (2020: 66%).
ANNUAL REPORT 2021 83
