ISLAMABAD: The Federal Cabinet has appointed Jawaid Ahmed Siddiqui as Chief Executive Officer (CEO) of Pakistan Railway Freight Transportation Company (PRFTC) at a "hefty" package, well-informed sources told Business Recorder.
Siddiqui has been associated with the Marine Group for over a decade in top managerial positions that is participating in the outsourcing of freight wagons by Pakistan Railways. He has also attended such meetings for the Group.
On July 13, 2021, Ministry Railways apprised the Cabinet that the PRFTC is a subsidiary of Ministry of Railways and is incorporated as a Private Limited Company in December 2014 under Companies Ordinance, 1984. The Company was established for carrying out the purpose of planning, designing, operating and managing the operations of freight transportation.
Being a public sector company, PRFTC is being run under a Board of Directors with Secretary/ Chairman Railways as Chairman. The executive head of the company is the Chief Executive Officer.
Previously, the CEOs were being normally appointed from amongst serving BS-20/2L Officers of Pakistan Railways.
Recently, the Board of PRFTC decided to fill the position of CEO from the open market on a competitive basis to make the company more efficient and vibrant in order to compete with the private sector companies in a befitting manner vide its Resolution No. 10. Accordingly, applications were invited from the market through advertisements in print media. 40 applications were received, out of which fourteen (14) candidates were initially shortlisted on the basis of ToRs of the position by the scrutiny committee constituted with the approval of Secretary/Chairman Railways.
A Selection Committee was constituted with the approval of Secretary/Chairman Railways to help the Board in selection of CEO. The Selection Committee interviewed the candidates on 01-04-2021 as per Fit and Proper Criteria prescribed under Schedule-Il of the SECP Guidelines 2015.
The Selection Committee came up with the panel of the following three candidates in order of merit: (i) Jawaid Ahmed Siddiqui (first); (ii) Shamshad Ali Khan (second); and (iii) Nisar Ahmad Memon (third).
A meeting of the Board of Directors of PRFTC was held on April 21, 2021 to consider the panel for the position of CEO, PRFTC for approval/endorsement. After a detailed discussion, the Board unanimously endorsed the panel in order of merit for appointment of one of them as CEO by the competent forum i.e., the Federal Government. The salary structure for the position of CEO, PRFTC was duly approved by the Board.
Copyright Business Recorder, 2021