The Federal Government has reconstituted the Board of Management of Pakistan State Oil Company Limited (PSO), appointing Mustafa Ramday as Chairman and Independent Director for a three-year term with immediate effect.
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 of Punjab, he has advised on the legal framework for the China-Pakistan Economic Corridor (CPEC), power generation and clean energy projects.
He has also represented oil, gas and power-sector entities in international arbitration. Chambers & Partners ranks him in its top tier for dispute resolution and litigation in Pakistan.
Mustafa Ramday Pledges Honorary Service to PSO
Upon assuming office, Ramday confirmed that he would serve PSO in an honorary capacity, foregoing directors’ fees and all work-related expenses.
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“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,” he said.
PSO Reconstitutes Board of Management
The reconstituted Board comprises the following members:
| Director | Category |
|---|---|
| Mustafa Ramday | Chairman / Independent Director |
| Muneeb-ul-Haq | Independent Director |
| Aftab Hussain | Independent Director |
| Imtiaz Hussain Kazi | Independent Director |
| 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 Welcomes New Chairman and Board
PSO management and employees welcomed Ramday and the reconstituted Board, expressing confidence in their guidance to strengthen corporate governance, transparency and accountability.
The company said it looked forward to creating long-term value for shareholders while continuing to fulfil its responsibility of meeting Pakistan’s energy requirements.
