ISLAMABAD – An emergency meeting of the Board of Directors (BOD) of Pakistan Steel Mills (PSM) was held in Karachi. The directors have suspended Imtiaz A, K, Lodhi who is currently acting Chief Executive Officer (CEO) and Chief Financial Officer (CFO) of Pakistan Steel Mills with immediate effect.
As an interim arrangement, the BOD has placed Principal Executive Officer Wasif Mehmood, as acting CEO in addition to his present assignment. The BOD had requested the concerned ministry, the Ministry of Industries and Production (MoIP), to immediately nominate a permanent CEO for PSM so as to allow it to confirm his appointment in its next meeting scheduled on February 4, 2011.
The BOD in its meeting called on the MoIP to take up the matter with the interior division and ensure that placing Lodhi’s name is placed on the Exit Control List (ECL). It is pertinent to mention that the ministry has already sent a summary to Ministry of Finance about six months ago for the appointment of a permanent CEO for Pakistan Steel.
PSM suspends Imtiaz Lodhi as acting CEO
