PSO, OGDC likely to get Permanent CEOs soon

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PSO, OGDC likely to get Permanent CEOs soon

During a recent meeting of Cabinet members, it was discussed that part-time Heads of Public Sector Companies are not expected to do justice to their positions, hence all PSEs must have a full-time president, Chief executive officer or chairman.

Ministeries are given a time period of Three-Months to hire a permanent Head to lead the respective organizations. The decision was made by the cabinet which also concluded that If the ministries/divisions do not meet the deadline, the respective Minister/Federal Secretary will be held responsible.

Currently, Pakistan State Oil (PSO), Oil and Gas Development Company Ltd (OGDC), Sui North And Sui Southern Gas Company Ltd (SNGP, SSGC), Pakistan Re-Insurance (PARKI), Pakistan Steel Mill along with other small companies are being run on an Ad-Hoc basis and no permanent heads have been appointed.

Previously, the N-league Government tried to appoint the Permanent head of OGDC but to no avail. Both, PSO and OGDC are being run on an ad hoc basis with Acting CEOs. The acting CEO/MD of PSO and OGDC have been given extension several times.

The issue emanates from the fact that Board of these State Companies comprised primarily of Political Appointees which were appointed by N-League Government. In order to hire CEO/MD, The Board has to approve it. After coming into power, the current Government made changes to the Board of State Companies and Re-Constituted their Boards. Now the task has been assigned to the Boards to Hire CEOs on Merit.

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