PSO managing director may be removed
Pakistan State Oil (PSO) Managing Director Naeem Yahya Mir may lose his job because of accusations of poor performance and ignoring directives of the presidency and prime minister’s secretariat, sources say.
At present, Mir is on a six-month probation – may be the first managing director given such a long probation period. He may be removed before the end of this period because of alleged poor performance, say sources.
Sources said Mir was facing resistance from different lobbies. “Among these were parliamentarians whose requests for different types of work were not being entertained,” a senior petroleum ministry official said, adding the MD was also ignoring directives from the presidency and PM secretariat. “The MD has also not given enough time to the company as he has spent most of the time on foreign trips since he took charge in the last week of January this year,” he said.
Deputy Managing Director Jehangir Shah had been holding the acting charge, with a possibility that he may be given the same slot if the MD was shown the door, he said.
Swelling receivables of PSO, which have gone beyond Rs200 billion, have also been a factor behind the vulnerable position of Mir.
Despite attempts, and contact with the PSO spokesperson, Mir could not be reached for comments.
Three names are said to be under consideration for the top slot which include Dr Nazeer Alhawari, Ziaullah and Shahid Siddiqui.
“One of the three potential candidates may be appointed managing director of PSO without going into the process of advertisement,” a senior government official said, adding there was no bar on the government that it could not appoint managing directors of public sector oil and gas companies without publishing advertisements.
In recent months, heads of oil and gas companies have been hired through advertisements in newspapers. In the past, the petroleum ministry sent a summary containing three names for appointment as head of oil and gas companies without any advertisement. The predecessor of current PSO MD was also appointed without publishing ads.
Talking to The Express Tribune, a senior official of the petroleum ministry denied that the ministry had sent names for a new managing director of PSO. “If the government tries to appoint a new MD without advertisement, a litigation process may start,” he added.
Published in The Express Tribune, May 6th, 2012.
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I would request ministry of petroleum to select new MD from the company, the MD within the company knows the culture and philosophy of organization so he/she can make good decision, build good team and can put the company on right track. It’s encouraging that the name of Mr. Jehangir Shah is being considered for top slot once again. He enjoys the repute of an honest man and during his tenure as a MD he gave exceptionally the good results and never made a decision which goes against the interest of company.
In my view the credit of poor performance of MIR goes to Ministry who has appointed an Engineer to Head Country Largest Oil Marketing Company. Mr. MIR has no background of oil marketing and he has never remained in a position throughout his career to HEAD oil marketing giant. At the start of his period he made wrong choices by promoting and appointing incompetent and corrupt people at the top slots. This spread great disappointment into middle and lower management as they were not given due promotion this year contrary to PSO tradition.
Pakistan State oil has been doing exceptionally excellent either during the period of Late Mr Saeed Ibrahim , who in fact was pioneer to bring National Oil Company into 500 Fortune company with state of art infrastructure and planned highest capacity building in oil storages and later by Mr Jehangir Ansari in between Years 1993 to 1996 , when company profitability was highest and market share touching it speak at Rs:600/ .He gave strategically new dimensions to PSO besides higher investments by Shell (Pakistan).This happened due to dedication and better knowledge of the company and its marketing strategy without compromise at all times. PSO had more tha Rs: 40 Billion reserves in 1997 at minimum investments. It is great unfortunate for this National asset that few were appointed from outside and national asset is now at very difficult situation when receivables are exceeding Rs:200 Billion and business of the company running purely on Bank borrowings. Untill recently Mr Jehangir Shah has well maintained his position and the company and never allowed vagaries to refrain indulgences. PSO is a life line of Pakistan and great asset or the country, which must be given to right person and one from inside who has at least more than 20 Years of experience working purely in PSO. We wish PSO and Pakistan all the best and pray for its prosperity and God forbidden must not be allowed like PIA , Pakistan Steel and Pakistan Railway as being heard news every day.
The MD of PSO I think will be Mr Shahid Siddiqui. God bless PSO.
It is very disappointing that , people are posting their comments without knowledge of organization and its business.PSO was badly plundred by Mr Tariq Kirmani and present situation is result of that days.PSO deserves managing Director one who is the senior Employee of the company and his integrity is not questionable.
Presidency and PM own the country. Democracy is best revenge.......
Remove the Petroleum Minister also since PSO comes under his Ministry, and its a failure on Ministry's part too if PSO is being run into the ground. The last MD appointed by the same Minister also damaged this great company, and from this news it seems the current one isn't much better either. Mr. Tariq Kirmani knows the workings of PSO and can bring it back on stable footing, he should be given the assignment again.
Read the bold print Sir,
ignoring directives of the presidency and prime minister’s secretariat
if this is the reason, then even reinstating Tariq Kirmani wont be making any difference...if he goes along the lines of presidency then PSO will suffer as an organization and if he wont he will be removed with identical charges and accusations.
PSO was doing exceptionally well when Mr Tariq Kirmani was MD,I believe he is still in Karachi,why not offer him this job again,if Govt wants to streamline the working of PSO.