PSM board removes acting chief executive

The newly constituted board of directors of PSM removed the acting CEO Imtiaz A K Lodhi.

KARACHI: The newly constituted board of directors of Pakistan Steel Mills (PSM) on Saturday removed the acting chief executive officer (CEO) Imtiaz A K Lodhi, who could not defend the charge of holding a fake degree.

Lodhi, who had been under suspension for weeks, was asked to produce proof of his degree by the board in a meeting held at the PSM operational building.

The board constituted a committee comprising human resource experts to find a competitive chief executive officer for the mill.

The board also approved the mill’s budget for the year 2010-11. It also okayed a five-year business plan and phase-IV of the Gulshan-e-Hadeed housing scheme.

Ex-secretary Planning and Development Division Fazalullah Qureshi was elected chairman of the 12-member board.

Published in The Express Tribune, March 13^th, 2011.