ISLAMABAD: Flouting the directions of Prime Minister Shehbaz Sharif, the Board of Northern Power Generation Company Limited (NPGCL) has reinstated Chief Executive Officer (CEO) Sabeeh Uz Zaman Faruqui to “benefit from his experience”, well informed sources told Business Recorder.
On December 20, 2024, Chief Executive Officers (CEOs) of three power Generation Companies (Gencos) were suspended after Prime Minister Shehbaz Sharif’s ire against the officials who created hurdles in disposal of dead assets of Gencos.
The three CEOs who have been suspended are: (i) Abdul Vakeel, CEO, JPCL (Genco-1); (ii) Junaid Ahmed Baig (Genco-ii); and (iii) Sabeeh Uz Zaman Faruqui (Genco-iii.
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In mid-December while presiding over a high level meeting on IGCEP, Prime Minister had directed Minister Power Awais Khan Leghari to suspend the officials involved in delaying the disposal of dead assets of all redundant GENCOs and absorption/ retirement of HR as per already issued directions of the Prime Minister.
In a letter to Power Division, Chairman NPGCL Board, Tabrez Aslam Shami, referred to his previous letter in which the challenges faced by NPGCL (GENCO –III were communicated.
Following a formal inquiry conducted as per the Terms of Reference (ToRs), the inquiry committee submitted its report to the Board on January 2, 2025. Based on the findings of this report, the NPGCL Board resolved to exonerate and reinstate Sabeeh Uz Zaman Faruqui as CEO NPGCL which was done on January 03, 2024.
According to Chairman Board, in the letter of December 27, 2024, the compelling reasons for the decision taken in the best interest of NPGCL, adding that the Company is encountering significant constraints, while fulltime CEO is not available, in fluffing its responsibilities, particularity concerning the extensive activities required for the disposal of plants on a large scale and the reassignment of its manpower to other companies.
The key issues and challenges are: (i) coordination with NESPAK: continuous supervision and support are required for the State Bank of Pakistan (SBP)-approved evaluator to ensure the correct and comprehensive evaluation of the plants, which is critical for initiating the disposal process transparently and accurately; (ii) Management of disputes with HEPSEC, urgent and consistent coordination with NESPAK is essential for the preparation of documentation required for plant disposal, ensuring compliance with regulatory standards and timelines; (iii) Manpower Challenges. The ongoing dispute with HEPSEC has reached a critical stage, requiring meticulous management and negotiation to resolve it effectively without jeopardising NPGCL’s interests; (iv) Security Policy and Arrangements. With the anticipated closure of plants, a robust security policy and arrangement for all establishments needs to be devised and implemented to safeguard assets and maintain integrity; (v) decisions regarding the retention of residential colonies at Muzaffargarh and Multan require detailed planning and coordination to ensure compliance with legal and operational requirements; (vi) Plant Substation Operation Post-Closure; arrangements for the continued operation of plant substations following plant closure are imperative to maintain the supply chain and operational reliability; (vii) management of investments, in the light of existing challenges, the continued services of a fulltime CEO is deeply involved in thee processes are indispensable. With respect to the decision for immediate reinstatement of Sabeeh Uz Zaman Faruqui as CEO is principally influenced by the current reasons.
His experience and familiarity with ongoing processes are critical to navigating NPGCL through this complex transitional phase.
Copyright Business Recorder, 2025
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