Uncertain times: Instead of new MD, confusion takes over at PSO

Engro Elengy CEO Haque a no-show, was notified to be in office on May 11

KARACHI: Despite his appointment as the managing director of Pakistan State Oil (PSO), Sheikh Imranul Haque has yet to show up at work, which has adversely affected routine operations at the country’s largest petroleum supplier.

The notification announcing Haque’s appointment, the CEO of Engro Corporation’s Elengy, was issued on May 11, according to which he was supposed to take over immediately.

“As a consequence of this development, the incumbent MD of PSO Shahid Islam stopped working,” said an official. “He is not signing any documents or approvals.”

Islam’s tenure expired on April 30 and it was initially believed that the government extended his contract for a few days till a successor was announced.

However, Haque has still not contacted anyone at PSO. “We have not received any phone call or message from him. Whereas, the notification says he was to take over with immediate effect,” said a company official.



Islam had been heading PSO on a temporary basis since the government changed the management earlier this year following the petrol shortage crisis, which was particularly severe in Punjab.

He did not come to office on May 12 and did not conduct any official business on Wednesday.

The Ministry of Petroleum and Natural Resources sent a summary containing three names for the prime minister to consider on April 27.

“Sidat Hyder, the management consulting firm, was assigned the task to headhunt six people for us and we forwarded three names,” officials of the ministry said.

The other top contender was Wasi Khan, who oversees Byco’s oil trading business. The third candidate on the list was Qaiser Jamal, a former Byco official who is widely respected in the crude refining industry.

PSO has seen five CEOs in the last few years.

Haque’s appointment is of concern for many. He comes from a private company, which has its fate closely linked to PSO.

Engro’s subsidiary Elengy Terminal Pakistan Limited inaugurated the country’s first liquefied natural gas (LNG) terminal in March. Its purpose is only to operate the terminal whereas the government has designated PSO to arrange LNG shipments, which is a multi-million-dollar programme.

No one at Engro was able to say if Haque has resigned. 

Published in The Express Tribune, May 14^th,  2015.

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