Shahab Qader Khan has been appointed Chief Executive Officer (CEO) of Kot Addu Power Company Limited (KAPCO).
The listed company shared the development in its notice to the Pakistan Stock Exchange (PSX) on Monday.
“The Board of Directors (BoD) of the company has appointed Shahab Qader Khan as the chief executive of the company for a term of three years commencing from January 22, 2025 to January 21, 2028,” read the notice.
KAPCO was incorporated in Pakistan on April 25, 1996 as a public limited company under the Companies Ordinance, 1984 (now Companies Act, 2017).
KAPCO was built by the Pakistan Water and Power Development Authority (WAPDA) in five phases between 1985 and 1996 in Muzaffargarh district, Punjab.
In April 1996, KAPCO was incorporated as a public limited company under the Companies Ordinance, 1984 with the objective of acquiring the Power Plant from WAPDA. The principal activities of the Company include the ownership, operation and maintenance of the Power Plant.
On June 27, 1996, following international competitive bidding by the Privatisation Commission Government of Pakistan, KAPCO was privatised.
At the time of privatisation and following privatisation, WAPDA divested 36% of its shareholding in the company to the strategic investor. In August 2013, the strategic investor sold its entire shareholding in the company to local corporate entities and individuals.
Comments