Govt appoints MDs of 5 state owned oil and gas companies

After a delay of five months, the government on Tuesday appointed Managing Directors of the five major public sector oil and gas companies, including Pakistan Petroleum Limited, Sui Northern Gas Pipelines Limited, Sui Southern Gas Company Limited, Government Holding Private Limited and Pak Arab Refinery Limited while it plans to advertise for the appointment of the Managing Directors of Oil and Gas Development Company Limited, Inter State Gas Systems Limited and Pakistan State Oil.
Petroleum Minister Dr. Asim Hussain told reporters that the Prime Minister has approved appointment of Asim Murtaza Khan as MD PPL, Arif Hameed MD SNGPL, Azeem Iqbal Siddiqui as MD SSGCL, Irfan Nasr as MD GHPL and Syed Tariq Rizavi as MD PARCO. He said that interviews for the MD OGDCL were also held but no suitable candidate was found so it was decided to that the post would be re-advertised. He said the MD of ISGS and MD PSO would also be appointed in the near future. After appointment of Dr. Asim Hussain as Advisor to the Prime Minister on Petroleum in April the government had removed all the incumbent heads of state owned oil and gas entities. Most of the newly appointed MDs were performing as acting heads of these companies since April this year. Dr. Asim Hussain told a news conference that all the incumbent heads of state owned oil and gas entities were removed from their posts for their failure to deliver.
He had said that their removal was necessary to reform the energy sector to bring the country out of the energy crisis. He had said that 35 blocks were ready for auction for the last many months but due to different issues their bidding was being delayed. The non-linking of 500 mmcfd of available gas reserves with the national transmission network was also seen as a gross misconduct of the previous high ups. Removing MDs was a big decision as most of them were highly influential as they were managing highly profitable companies and it was very easy for them to oblige anyone.
Breaking of their hold on the oil and gas sector would help resolve many of the chronic issues that were holding the sector hostage, the source said. In a related development the government is also likely to remove all the Chief Executives of the distribution and generation companies. The government has also advertised for the hiring of CEO and CFO for DISCOs.