Name of Dr. Basit Riaz Sheikh has been agreed for the next Chief Executive Officer of Universal Service Fund, told us sources close to the development.
Reportedly, Raja Pervez Ashraf, Prime Minister of Pakistan, proposed Dr. Basit for the slot of CEO of USF that was vacated by Mr. Riaz Asher Siddiqui just yesterday. If sources are to be believed then all board members have agreed with PM’s proposed name.
Mr. Riaz Asher Siddiqui was removed from CEO’s position through a resolution agreed and signed by all board members of USF, a company that has over Rs. 50 billion in its account for the development of telecom services in far flung and less developed areas of the country.
Apparently, everything has been settled and formal appointment of Dr. Basit is imminent during a board meeting that will happen in next couple of days.
Dr. Basit Riaz Sheikh was earlier appointed as Advisor to the Ministry of IT and Telecommunication by Raja Pervez Ashraf in July this year.
Dr. Basit Riaz, son of Mr. Ahmad Riaz Sheikh, former ADG FIA, is considered as a well versed technical figure that is politically connected with the top brass.
Analysts say that USF was required to advertise this job, as per SOPs mentioned in the Companies’ Ordinance, under which the USF is run. Usually, applicants are interviewed after a job ad and tested by HRGC after which board members decides one name out of 2 or three.
On other hands, Mr. Riaz Asher Siddiqui is, reportedly, considering legal options against his removal from CEO’s position of USF.