ISLAMABAD: The cabinet approval has been sought for the appointment of the Chief Executive Officer of Neelum-Jhelum Hydro Power Company Limited (NJPHC) in accordance with Companies Act, 2017 and Public Sector Companies (appointment of Chief Executive) Guidelines, 2015.
Sources said a summary was sent to the Cabinet Division for consideration of the federal cabinet by the Ministry of Water and Resources dated March 25, 2022, stating that the NJHPC, a subsidy of WAPDA, was incorporated in November 18, 2004, as a special purpose vehicle under the Company’s Ordinance, 1984 with seven board of directors and two of which are independent appointed pursuant to the federal cabinet’s decision dated November 1, 2021.
The process for appointment of the CEO of the company was initiated by Wapda in the light of the Public Sector Companies (appointment of Chief Executive) Guideline, 2015 end Public Sector Companies (Corporate Governance) Rules, 2013. Accordingly, the post of CEO was advertised in the national newspapers on December 6, 2020 and 27 applications were received while four were shortlisted by the board’s Nomination Committee.
The shortlisted candidates were called for an interview. Out of the four candidates, three appeared for the interview, while one candidate namely, Waqar Ahmed Khan withdrew his application.
Interviews for the post were conducted by the Board of Directors of the Company in its 62nd meeting held on December 6, 2021 and recommended to the federal government through the Ministry of Water Resource for appointment of the CEO of NJHPC, in order of merit – Muhammad Arfan, Javed Akhtar, and Muhammad Jamil. MoWR sought approval of the prime minister to place the panel before the cabinet dated December 28, 2021, after seeking comments of Establishment and Finance Divisions. The Establishment Division commented that the tenure of appointment and terms and conditions/remuneration for the appointment of CEO, NJHPC may be specified.
The tenure for the post has been specified in the advertisements, published on December 6, 2020, as three years initially and extendable subject to the federal government’s approval.
Copyright Business Recorder, 2022