ISLAMABAD: The Federal Cabinet has rejected a proposal of Zarai Taraqiati Bank Ltd (ZTBL) to appoint a retired Brigadier as MD/ CEO Kissan Support Services (Pvt) Limited (KSSL) through a tailor-made advertisement, official sources told Business Recorder.
KSSL is a wholly-owned subsidiary of Zarai Taraqiati Bank Ltd (ZTBL) and registered with SECP as a Public Sector Company.
On January 18, 2022, the Cabinet was informed that the position of its MD/CEO became vacant on November 27, 2021 due to expiry of three-year tenure of Brig. (R) Zaheer Ud Din Ahmad Ex MD/CEO, KSSL.
Accordingly, the process to appoint successor of the outgoing MD/CEO, KSSL was initiated. The position of Managing Director/CEO, KSSL was advertised by KSSL in the daily newspapers on October 22, 2021 in line with the provisions of Public Sector Companies (Appointment of Chief Executive) Guidelines, 2015.
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As per Section 5(2) of the Public Sector Companies (Corporate Governance Rules, 2013) the Board should evaluate the candidates based on the fit and proper criteria and the guidelines specified by the Commission for appointment to the position of the chief executive and recommend at least three candidates to the Government for its concurrence for appointment of one of them as chief executive of the Public Sector Company, except where the chief executive was nominated by the Government.
On receiving concurrence or nomination of the Government, as the case may be, the Board should appoint the chief executive in accordance with the provisions of the Ordinance. The Board should also be responsible for development and succession planning of the chief executive.
The KSSL Board of Directors in its 65th meeting held on December 14, 2021 had evaluated the candidates as per Public Sector Companies (Appointment of Chief Executive) Guidelines, 2015 and unanimously recommended names of three candidates in order of merit to Finance Division for appointment in the light of para 6(1) of Public Sector Companies (Appointment of Chief Executive) Guidelines, 2015. The Finance Division agreed with the recommendations made by the Board of KSSL and proposed appointment of any one of the following candidates as MD/CEO, KSSL: (i) Brig(R) Muhammad Zubair Khan; (ii) Shamshad Ali Khan; and (iii) Col (R) Qazi Manzoor Alam.
When the summary was presented for discussion, the members noted that the eligibility criteria in the advertisement were flawed and seemed tailor-made, especially the minimum age limit and experience. The members were of the opinion that the position be re-advertised after removing the shortcomings.
The members directed to re-advertise the position after removing the shortcomings and improving the eligibility criteria.
Copyright Business Recorder, 2022