PSO gets new chief

Yahya faces tough task in face of unending inter-corporate debt.

ISLAMABAD: Prime Minister Yousaf Raza Gilani on Monday appointed Naeem Yahya Mir as managing director of Pakistan State Oil (PSO), replacing Acting MD Jehangir Shah, as part of a planned restructuring of oil and gas companies, says the Prime Minister’s House.

An expert in refinery planning and management, technological support, marketing and process and problem solving, Mir was appointed after the Ministry of Petroleum and Natural Resources sent a summary to the prime minister, recommending names of three candidates including Mir, Wasi Khan and Irfan.

Earlier, 11 candidates had appeared before an interview committee. Of these, Mir got the highest marks and stood on top of shortlisted candidates. The ministry recommended Mir for the PSO post as he met all terms and conditions set by the government.

Sources told The Express Tribune that before announcing the appointment the prime minister interviewed two candidates including Mir and Wasi Khan, who has experience of working in Bosicor oil refinery. The third candidate, Irfan, did not turn up.

In the face of unending inter-corporate debt, Mir will be facing the tough task of managing an oil marketing giant which has been undermined by financial constraints and is facing problems in continuing oil supply across the country. Power companies have failed to make regular payments to PSO, which have accumulated to Rs176 billion.

Under the restructuring drive, the government has already appointed new heads of Sui Southern Gas Company, Sui Northern Gas Pipelines Limited, Pakistan Petroleum Limited, Pak Arab Refinery Company and Government Holdings Private Limited.

A suitable person for the post of managing director of Oil and Gas Development Company (OGDC) has not yet been found yet. The interview committee, headed by Petroleum Minister Asim Hussain, has decided to re-advertise the post.

USF managing director

Separately, the prime minister appointed A Riaz Asher Siddiqui as chief executive officer of the Universal Service Fund (USF) with immediate effect.

Siddiqui, who is an expert in the field of telecommunications, has experience of business development, brand strategising and project management, says the PM House in a press release.

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