- The BoD passes resolution to exercise MD's powers until a committee reviews the matter
ISLAMABAD: The Sui Northern Gas Pipeline Limited (SNGPL) Board has terminated the service contract of Ali J Hamdani as managing director (MD) in its meeting held on Saturday, source said.
The board of directors, in their 600th meeting on February 18, 2023, passed a resolution that Hamdani should cease to exercise his powers as MD with immediate effect and until the board and/or a committee, formed by it, expeditiously completed a review of the matters.
The former MD was receiving the highest salary which was Rs6.8 million per month. Sources revealed that the company detected financial irregularity worth millions in the 260-km pipeline in Bannu which led to the launching of an inquiry against Hamdani.
Sources said documents submitted to the board say that the SNGPL management sanctioned funds for the construction of a visitor’s/ parliamentarian’s lounge during the 197th management committee meeting on July 1, 2021. The management sanctioned Rs7.58 million (excluding general sales tax) on July 7, 2021. Thereafter, the SNGPL issued a work order of Rs8.6 million to the successful bidder next day.
However, the management (former MD) floated a tender on August 18, 2021, which was termed a clear violation of the company’s policies and procedures. The MD Secretariat also charged Rs5 million, which was 67 per cent of the total civil work cost, in violation of the company’s policies and procedures.
The MD Secretariat kept seven vehicles in its control despite the fact that the MD had been officially given only one vehicle.
The Public Accounts Committee under chairmanship of Noor Alam Khan had shown serious reservations over his appointment during Imran Khan’s tenure at hefty salary and perks and privileges.
Copyright Business Recorder, 2023