ISLAMABAD: The Power Division has taken the position that the Chairman of the Energy Infrastructure Development & Management Company (EIDMC) Board is not an independent director and is likely to be disqualified, sources in the Power Division told Business Recorder.
According to the Power Division, during an online technical session with Uzbekistan arranged by the Economic Affairs Division (EAD) on January 29, 2026, a Power Division official observed that Sheikh Imran ul Haque, Chairman of the EIDMC Board, was also attending the session on behalf of Pakistan Refinery Limited (PRL) under the auspices of the Petroleum Division.
The concerned official, who serves as an ex-officio director of EIDMC, subsequently reviewed PRL’s website and found that Sheikh Imran ulHaque is employed as Project Director at PRL. Further inquiry through the website of Pakistan State Oil (PSO) revealed that PRL is a public limited company and a subsidiary of PSO, which holds 63.6 percent of its shares. PSO is a state-owned enterprise (SOE) operating under the administrative control of the Petroleum Division.
The status of PSO as an SOE, as defined under the SOEs (Governance and Operations) Act, 2023, is reflected in its Statement of Corporate Intent. According to PSO’s Annual Report 2025, the company has four subsidiary companies, including PRL, and two associated companies. Since PSO is an SOE owned by the Government of Pakistan, PRL also qualifies as an SOE controlled and owned by the federal government under Sections 2(d)(i) and 2(j)(i) of the SOEs Act.
“In view of the available evidence, under Section 11(j) of the SOEs Act, Sheikh Imran ul Haque cannot hold the office of Independent Director/Chairman on the EIDMC Board and shall stand disqualified. The CAD wing may take further necessary action regarding disqualification/appointment of a new Chairman of the Board of Directors of EIDMC,” sources quoted Joint Secretary (Development) Syed Tauqeer Hussain as stating in a letter addressed to the Joint Secretary of the Corporate Affairs Division (CAD).
Copyright Business Recorder, 2026