Cabinet to approve reconstituting PPL board

Aftab Ahmed

Islamabad: The Federal Cabinet is likely to approve a 10-member new board of directors and Pakistan Petroleum Limited. The Ministry of Energy (MoE), Petroleum Division, has proposed this panel.

The Petroleum Division has proposed Shahab Rizvi, newly appointed board of director and possible chair of the Board of PPL and hailed from Sindh. The other member who hailed from Sindh and proposed the PPL board includes Mrs. Khurshid Bhaimia and Imtiaz A H Laliwala. Two members from Punjab include Aftab Ahmad and Abid Sattar, and similarly, one member from KP includes Mian Imtiaz Uddin, the sources added.

Other members included in PPL Board are representatives of Federal and Provincial Govts. They also include secretary Energy, GoB, Additional Secretary (Admin), Petroleum Div, Joint (A/CA) Petroleum Div, and a Finance Division representative.

The government, in pursuance of the incumbent government’s policy, is appointing new board members. But they are non-political ones. The Government reconstituted the autonomous Board– the BoDs of PPL–on June 3, 2019, for its remaining statutory period. The tenure of the BoDs of PPL is to expire on Aug 30, 2020. Simultaneously, the Extraordinary General Meeting (EGM) for the Directors’ election is scheduled to be held on Sept 16, 2020.

According to the shareholding pattern, the Government of Pakistan holds 74.86% of the company’s paid-up capital. The BoDs of PPL comprises 11 directors, including the Managing Director.