Dr Khursheed Khan
and Rashid Cheema have been given
the charge of CEO, secretary respectively.
ISLAMABAD: The Clean Development Fund (CDF) board of directors elected its first chief executive officer (CEO) and secretary in its meeting.
Initially, Pakistan Environmental Protection Agency (Pak-EPA) Director General (DG) had been assigned the responsibilities of CEO, which have now been given to Dr Khursheed Khan. Rashid Cheema has been appointed as the company secretary.
The appointments are temporary, as on an independent CEO and secretary would be elected later and office of the CleanDevelopment Fund would also be shifted to a permanent home.
The environmentalists said that first board of directors meeting was held within the time frame set by the Securities and Exchange Commission of Pakistan.
They said CDF will help EPA in source mobilisation, conducting surveys and research studies for environmental issues independently and without taking pressures exerted by different quarters including the government.
Later on the company will float its shares in securities market for financial resources mobilisation besides joint ventures with multinational and national companies in respect of their corporate social responsibilities (CSRs).
Securities and Exchange Commission of Pakistan (SECP) had issued license to the Pak-EPA for the establishment of CDF Company in May following which, the agency applied for incorporation of the full-fledged company. The SECP after approving the registration had directed the company to hold a meeting of board within 15 days and elected CEO and secretary of the company.
There was a large number of participation by board members who selected CEO and secretary besides opening bids for selection of auditor and legal consultant of the company. These bids will be evaluated by consultants of Pakistan Procurement Regulating Authority (PPRA).
It may be noted that around 60 per cent members of CDF’s board of directors are from different ministries and other public sector organisations, while two members are from civil society, and representatives from the Islamabad Capital Territory and the Capital Development Authority, the Islamabad Chamber of Commerce and Industry and an environmentalist would also be inducted as board members.
Published in The Express Tribune, June 19th, 2015.
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