PTDC working without MD since long

Board has proposed interim arrangement until hiring of permanent managing director

ISLAMABAD:

Despite several attempts, the government has failed to appoint a regular managing director of Pakistan Tourism Development Corporation (PTDC). PTDC, an organisation set up with the aim of promoting tourism in the country, is being run through an ad hoc arrangement for a long time in the absence of a permanent MD.

The additional charge of PTDC MD has been given to the general manager of the corporation.

The government has even upgraded the post of MD a couple of times in a bid to attract a suitable candidate, but to no avail.

Now, the PTDC board of directors has come up with a plan and has asked the government that a board director can be appointed as the MD under an interim arrangement till the hiring of a permanent MD.

Earlier, with approval of the federal cabinet, Intikhab Alam, an officer of the Secretariat Group (BS19), was posted as general manager of PTDC and later he was given the additional charge of MD. The tenure of additional charge expired on December 3, 2020. Earlier, the post of PTDC MD was advertised on February 20, 2020.

However, the selection committee of the board of directors could not pick a suitable candidate. Therefore, the board recommended that the post should be re-advertised after upgrading it from MP-ll scale to MP-I scale.

The post was placed in the MP-I scale after government approval and was re-advertised. Despite the upgrade, no suitable candidate could be selected.

Subsequently, the board recommended that the post should be re-advertised by further upgrading it to the SPPS-II position.

A summary has been prepared and approval of the prime minister has been sought for placing the post in SPPS-II. Approval of the premier is still awaited.

As the slot of MD is still vacant, the board has adopted the following resolution: Aftabur Rehman Rana, an independent director on the PTDC board, may be assigned responsibilities of MD on an honorary basis for the intervening period till the joining of a regular MD in terms of Section 187(1) of the Companies Act 2017 to manage the affairs of the corporation and exercise all administrative and financial powers as delegated to the MD from time to time for a smooth functioning of the affairs of the corporation and its subsidiaries.

The Cabinet Division has endorsed the PTDC board proposal for assigning the responsibilities of MD to Aftabur Rehman Rana on an honorary basis until the joining of a regular MD.

In terms of Article 150(a) of the Memorandum and Articles of Association of PTDC, read with Section 187(4) of the Companies Act, 2017 and Public Sector Companies (Corporate Governance) Rules 2013, the federal government is competent to appoint MDs/CEOs of public sector companies.

The Establishment Division has also given its consent for the proposal. However, they have suggested that hiring of the MD through a competitive process may be undertaken and completed at the earliest.