PSO Board of Management Reconstituted by the Govt

The government has reconstituted the board of management of Pakistan State Oil Company Ltd for a period of three years.

The 10-member board of management is led by Zafar I. Usmani as chairman which includes nine other members as well. Three other members included Tara Uzra Dawood, Mohammad Humayun Barakzai, and Mohammad Shahid Khan, stated the notification issued by the Petroleum Division on Thursday.

Other public sector members of the board include a joint secretary each from Ministries of Finance and Petroleum, Director-Gene­ral Petroleum Concessions, federal secretary power and managing directors of OGDCL and PSOCL, said the letter.

Zafar I. Usmani has held multiple C – level positions in telecommunications (Paktel – Cable & Wireless, China Mobile- Zong & PTCL) and in Oil & Chemical industry (Exxon Mobil JV Mobil Askari Lubricants & PQ Corporation JV).

His key expertise is in building new and turning around struggling companies (Mobil Askari & Zong) into significant players in the industry.

Mr. Zafar has 36 years of managing and growing organization successfully, CM Pak (Zong), Mobil Askari Lubricants Ltd (ExxonMobil), Paktel (Cable & Wireless), and PQ Corporation’s JV in Pakistan, with experience covering Telecom (11 years+), Oil and Chemical (14 years+) with multinational companies. Of these, 16 years were at the CXO level, 16 years in marketing and sales and 4 years in banking/finance.

Ms. Tara belongs to the leading business family of Dawood’s and was fined by SECP a few years back for a case of insider-trading relating to Dawood Capital Management.

Acting CEO appointed for Pakistan Steel Mills

The government has handed over the charge of Pakistan Steel Mills (PSM) to a bureaucrat on a “look after”

Moreover, the government also gave the acting charge of the chief executive officer (CEO) Pakistan Steel Mills to Mr. Naeem Jan, a joint secretary of Grade 20 in the Ministry of Industries and Production (MoIP).

The post of CEO Pakistan Steel was vacant for a long time.

The notification mentioned that Mr. Jan will supervise the day-to-day affairs of the steel mills and is authorized to attend PSM Board meetings on behalf of the ministry.

The board meeting of the PSM is scheduled to be held today and tomorrow (Feb 22 and 23).