ISLAMABAD: Federal Government is likely to appoint Abdul Vakil as Chief Executive Officer (CEO) of Genco Holding Company Limited (GHCL), well informed sources told Business Recorder.
According to Chairman, GHCL, the Board of Directors (BoD) of GHCL, initiated the process for appointment of CEO of the company on the basis of a letter written by the Power Division on May 3, 2021. The GHCL Board conducted interviews; however, due to unhealthy competition, the position was re-advertised.
The Board in its 158th meeting held on August 4 and 11, 2022 conducted interviews of the four eligible candidates and prepared a merit list of three candidates as follows: (i) Muhammad Abdul Vakil (1st position with average score of 80); (ii) Irfan Rafique (2nd with 65.67 score); and (iii) Syed Tanvir Ahmed Jafri (3rd, 64.89 score).
The Board authorised the management to process for due diligence and pre-appointment scrutiny as required under Rule 4(2) of the Schedule-1 of the Public Sector Companies (appointment of Chief Executive) guidelines, 2015.
The Board, in its meeting held on October 27, 2022 reviewed the status of responses received from different departments and authorised the Chairman GHCL Board, Syed Akhlaq Ahmad to send the three names along with CVs, summary/ status of due diligence and pre-appointment scrutiny and the letters sent to Federal Board of Revenue (FBR), Federal Investigation Agency (FIA) and Intelligence Bureau (IB) from whom a response is still awaited.
Chairman GHCL has requested Power Division to obtain approval of Federal Cabinet of one candidate from the three recommended by the Board, as deemed appropriate, for the position of CEO, GHCL as required under Public Sector Companies (Corporate Governance) Rules, 2013 and Public Sector Companies (appointment of Chief Executive) Guidelines, 2015.
Informed sources told this scribe that Power Division has recently removed CEO GHCL Mian Imran on the persistent pressure of Chairman Senate Standing Committee on Power, Senator Saifullah Abro.
Copyright Business Recorder, 2022
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