Ali Sadeghi, CEO of Farhangian Reserve Fund, emphasized the need to increase the productivity of companies and create sustainable wealth. Referring to the institution’s commitment to protecting the interests of member Farhangians, he called for strict implementation of corporate governance principles, development of smart governance, and implementation of transparency systems in the complex.
According to the Public Relations and International Affairs of Farhangian Reserve Fund, a meeting of the Board of Directors of Petrofarhang Holding and Subsidiaries was held on Tuesday, Mehr 15, 1404, in the presence of Ali Sadeghi, CEO of Farhangian Reserve Fund, Javad Zarepour, CEO of Petrofarhang, CEOs of subsidiaries, and senior managers of the holding, coinciding with the beginning of the 1404-1405 fiscal year.
The CEO of the Farhangian Reserve Fund Institute said in this meeting: Reviewing the performance of managers in the past fiscal year is the basis for making decisions about them. Therefore, in the next meeting that will be held soon, the detailed performance report of each company will be reviewed and analyzed by the fund because, considering the current conditions of the country and also the commitment we have to the members of the Farhangian Reserve Fund, increasing the productivity of companies is emphasized by the board of directors of the institute.
Ali Sadeghi added: Focusing on observing the principles of corporate governance as well as shareholding in subsidiaries should be considered, and Petrofarhang Holding is obliged to supervise all subsidiaries regarding compliance with this issue. Preventing island-like actions as the axis of organizational discipline is a work priority in every organization and its observance is mandatory. At the same time, the conditions for the Farhangian Reserve Fund Institute’s support for the holding include observing health in order to create value for the country and also create sustainable wealth for the members.
He continued by emphasizing the development of smart governance in the institution, stating: Petrofarhang has taken positive steps such as launching a trading system and an integrated human resources system, and at the same time, it must urgently implement the financial dashboard system and other required systems so that “transparency” as a basic principle in the institution reaches the highest possible level and at the same time increase the efficiency of the complex.
Sadeghi stated: Subsidiary companies are required to implement and implement the notified trading regulations without interpretation and partiality, and not to make any changes in this matter, and to consider this notification as a chapter of the sermon, to avoid any failure of transactions and leaving unnecessary formalities, and to consider this principle as a prohibition, because any deviation from this principle is considered a violation and violators will be dealt with decisively.
Continuing the meeting, Sadeghi ordered the creation of jobs for the children of Farhangian Reserve Fund members, saying: “Given that in the coming months we will witness the launch of Phase 2 of Sabalan Petrochemical, the company’s human resources will be provided only through a valid exam, taking into account the scores of the children of Farhangian Reserve Fund members.” At the same time, recruiting human resources without obtaining permission from Petrofarhang is prohibited, and the holding is obliged to submit a report in this regard.
The CEO of the fund, emphasizing the targeted implementation of the plan in the area of eliminating imbalances, said: Petrofarhang is obliged to take action with urgency in line with its national duty to increase the number of its power plants and complete several power plants and start others in the new fiscal year.
He concluded by saying: “Companies are obliged to determine expert processes for all their executive and management measures to provide an opportunity to reduce deviations from the announced plans.”