Cabinet approves new board PPL
Aftab Ahmed
Islamabad: Cabinet has approved the nomination of directors and Shahab Rizvi as possible chair of the board of Pakistan Petroleum Limited (PPL).
Earlier, the cabinet had refused to approve the petroleum division’s nominations for the board of directors and chairman of PPL.
In a new development, the cabinet has approved a new board of directors of PPL.
The Petroleum Division had proposed a 10-member new board of directors and chairman for Pakistan Petroleum Limited (PPL).
The Petroleum Division had proposed Shahab Rizvi, newly appointed board of director and possible chair of the Board of PPL, and hailed from Sindh. In contrast, the other member who hailed from Sindh and proposed on the PPL board includes Mrs. Khurshid Bhaimia and Imtiaz A H Laliwala. At the same time, two members from Punjab include Aftab Ahmad and Abid Sattar. Similarly, one member from KP includes Mian Imtiaz Uddin, the sources added.
Read More: PPL: A rich legacy rejuvenated.
Other members, who are proposed to be included in the PPL Board, and representatives of Federal and Provincial Govts, include secretary Energy, GoB, Additional Secretary (Admin), Petroleum Div, Joint (A/CA) Petroleum Div and a representative from Finance Division.
Furthermore, the cabinet had approved these nominations for the board of PPL.
According to the pattern of shareholding, the Government of Pakistan holds 74.86% of the company’s paid-up capital.
Also, READ Divestment of shares in PPL: PC Board decides to proceed to hire FAC
Meanwhile, the board expired on Aug 30, 2020. According to the pattern of shareholding, the Government of Pakistan holds 74.86% of the company’s paid-up capital. The BoDs of PPL comprised of 11 directors, including the Managing Director.
