Mustafa Ramday appointed Chairman of the Board of Management of PSO

Karachi: The Federal Government has reconstituted the Board of Management of Pakistan State Oil Company Limited (PSO), appointing Mr. Mustafa Ramday as Chairman and Independent Director for a three-year term with immediate effect.

Mr. Ramday brings more than 28 years of experience in constitutional, commercial and energy-sector law. An Advocate of the Supreme Court of Pakistan and former Advocate General, Punjab, he has advised on the legal framework for the China-Pakistan Economic Corridor (CPEC), power generation and clean energy projects, and represented oil, gas and power-sector entities in international arbitration.

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Chambers & Partners ranks him in its top tier for dispute resolution and litigation in Pakistan.

On assuming office, Mr. Ramday confirmed that he would serve PSO in an honorary capacity, foregoing directors’ fees and all work-related expenses:

“I would like to make it clear, to the company and to everyone else, that I will not charge PSO any directors’ fee, travel, boarding, lodging or other costs to which I would be entitled for any PSO work, whether within or outside Pakistan.”

The reconstituted Board comprises:

Director Category

Mr. Mustafa Ramday Chairman / Independent Director
Mr. Muneeb-ul-Haq Independent Director
Mr. Aftab Hussain Independent Director
Mr. Imtiaz Hussain Kazi Independent Director
Ms. Saira Shahid Hussain Independent Director

Secretary, Petroleum Division (or representative not below BS-20) Ex-Officio Director
Secretary, Power Division (or representative not below BS-20) Ex-Officio Director
Secretary, Finance Division (or representative not below BS-20) Ex-Officio Director
Chief Executive Officer, Pakistan LNG Limited Ex-Officio Director

PSO’s management and employees welcome Mr. Ramday and the reconstituted Board, and look forward to their guidance in strengthening corporate governance, upholding transparency and accountability, and creating long-term value for shareholders while fulfilling PSO’s responsibility to meet Pakistan’s energy needs.