AIRLINK 217.98 Decreased By ▼ -4.91 (-2.2%)
BOP 10.93 Increased By ▲ 0.11 (1.02%)
CNERGY 7.55 Decreased By ▼ -0.01 (-0.13%)
FCCL 34.83 Decreased By ▼ -2.24 (-6.04%)
FFL 19.32 Increased By ▲ 0.08 (0.42%)
FLYNG 25.15 Decreased By ▼ -1.89 (-6.99%)
HUBC 131.09 Decreased By ▼ -1.55 (-1.17%)
HUMNL 14.56 Decreased By ▼ -0.17 (-1.15%)
KEL 5.18 Decreased By ▼ -0.22 (-4.07%)
KOSM 7.36 Decreased By ▼ -0.12 (-1.6%)
MLCF 45.63 Decreased By ▼ -2.55 (-5.29%)
OGDC 222.08 Decreased By ▼ -1.18 (-0.53%)
PACE 8.16 Decreased By ▼ -0.02 (-0.24%)
PAEL 44.19 Increased By ▲ 0.69 (1.59%)
PIAHCLA 17.69 Decreased By ▼ -0.37 (-2.05%)
PIBTL 8.97 Decreased By ▼ -0.10 (-1.1%)
POWERPS 12.51 Decreased By ▼ -0.50 (-3.84%)
PPL 193.01 Decreased By ▼ -5.23 (-2.64%)
PRL 43.17 Increased By ▲ 0.93 (2.2%)
PTC 26.63 Decreased By ▼ -0.76 (-2.77%)
SEARL 107.08 Decreased By ▼ -3.00 (-2.73%)
SILK 1.04 Decreased By ▼ -0.02 (-1.89%)
SSGC 45.00 Decreased By ▼ -2.30 (-4.86%)
SYM 21.19 Increased By ▲ 0.42 (2.02%)
TELE 10.15 Decreased By ▼ -0.37 (-3.52%)
TPLP 14.51 Decreased By ▼ -0.44 (-2.94%)
TRG 67.28 Decreased By ▼ -1.57 (-2.28%)
WAVESAPP 11.29 Decreased By ▼ -0.63 (-5.29%)
WTL 1.70 Decreased By ▼ -0.09 (-5.03%)
YOUW 4.25 Decreased By ▼ -0.10 (-2.3%)
BR100 12,397 Increased By 33.3 (0.27%)
BR30 37,347 Decreased By -871.2 (-2.28%)
KSE100 117,587 Increased By 467.3 (0.4%)
KSE30 37,065 Increased By 128 (0.35%)

ISLAMABAD: Power Division has started the process to appoint new Managing Director of Private Power & Infrastructure Board (PPIB) as the tenure of incumbent MD will expire on January 17, 2022, well informed sources told Business Recorder.

According to the summary, PPIB, a statutory body under the administrative control of Power Division, is responsible to provide one-window facility to investors and to promote, encourage and facilitate investments in the power sector, in IPP mode, under the applicable power policies and to safeguard the investments already made therein.

PPIB is headed by a Managing Director and the three-year tenure of current MD PPIB, Shah Jahan Mirza is expiring on July 17, 2022. As per section 7(l) of PPIB Act, 2012, the MD, PPIB shall be appointed by the Federal Government. This Division has prepared rules for appointment and terms of service of MD, which are being submitted to PPIB Board for its approval.

The rule making process will take some time, as the said rules will also be submitted to the Cabinet for its approval after vetting by Finance, Establishment and Law & Justice Divisions. It; therefore, appears appropriate to initiate the recruitment process of MD PPIB under the Establishment Division’s O.M of May 10, 1997.

IPPs: PPIB irked by withdrawal of tax exemptions

Power Division has proposed the following: (i) a draft advertisement may be approved; (ii) in terms of section 7(5) of the PPIB Act, 2012, the tenure of existing MD may be extended till appointment of regular MD PPIB; (iii) since merger of Alternative Energy Development Board with PPIB is under process, and the charge of CEO AEDB was earlier assigned to MD PPIB with the approval of Cabinet till merger; therefore, during the extended period of MD PPID, the previous arrangement for AEDB may continue; (iv) in terms of the Establishment Division’s decision of May 10, 1997, the following Selection Board may be approved for selection/ recommending a panel of three candidates in order of merit to the Government for appointment of MD PPIB: (a) Minister for Power (Chairman); (b) Secretary, Power Division (Member); (c) Additional Secretary-1, Power Division(Member); (d) Additional Secretary, Establishment Division (Member); (e) Senior Joint Sectary/ Joint Secretary (E&D) (Member), one expert having domain knowledge to be nominated by the Minister for Power on the recommendation of Secretary Power Division (co-opted Member).

Cabinet Division, in its comments on summary of Power Division, noted that the post of present MD {PPIB) is likely to become vacant on July 17, 2022. As per instructions issued by the Cabinet Division, the process of filling up of vacancies likely to become vacant should be started six months before the occurrence of vacancy.

Reason of late initiation of process may be incorporated in the summary. The present status of merger of Alternative Energy Development Board (AEDB) and Private Power & Infrastructure Board (PPIB) should be incorporated in the summary.

Copyright Business Recorder, 2022

Comments

Comments are closed.