ISLAMABAD: Power Division has reportedly finalised three names for appointment as the Chief Executive Officers (CEOs) of Genco Holding Company Limited (GHCL) and Genco-1 and Genco-II, official sources told Business Recorder.
Sharing the details, sources said, four public sector Generation Companies (Gencos) operating under the umbrella of Genco Holding Company (GHCL) are facing financial and operational issues. Major portion of the power plants are de-rated, inefficient and running sub-optimally, as well as being encumbered with surplus human resources. As a component of generation tariff, these expenses are burdened on to consumers, who are suffering already due to the substantive rise in electricity prices subsequent to rebasing of tariff.
In order to cut down operational and management expenditures and to reduce burden on electricity consumers, Power Division has decided to merge all subsidiary Gencos with their holding company GHCL to operate as one company.
Financial constraints of the companies do not justify and thereby prevent hiring of private sector CEOs at market base salaries. For succession planning, Power Division has proposed to appoint senior officers of Discos as CEO of GHCL, Genco-1 and Genco-II till the merger of Gencos with GHCL is finalized.
Discos’ officers to be appointed as CEOs of GHCL, two Gencos
According to Power Division, this will not only add value to these companies through senior officers from distribution sector but will also enable these officers to obtain valuable technical experience on generation side of the sector. Accordingly, Power Division conducted interviews of General Managers and Chief Engineers of Discos.
Power Division has proposed the name of Chief Engineer Gepco Pervaiz Iqbal as CEO GHCL, Additional Chief Executive Genco-1 as CEO Genco-1 and Chief Engineer, Mepco, Muhammad Ayub Khan as CEO Genco-II.
Meanwhile, Chairman Jamshoro Power Company Limited (JPCL) (Genco-1) Shafiqur Rehman has brought to the notice of Power Division an act of maladministration, misuse of power and over-stepping of authority by the former CEO JPCL who with the connivance of JPCL management and Company Secretary released payments including 15% disparity reduction allowance, revised rental ceilings and promotions/ change of cadres without the formal approval of JPCL BoD on his last working day on August 26, 2022.
According to Chairman BoD, considering the significance of the issue, he reported the matter to GHCL BoD with a request to constitute an inquiry committee to probe the matter in detail and fix responsibility, if any. GHCL BoD deliberated the issue and proposed to include reviewing all the payments made within the last three months, as well.
Pursuance to the GHCL BOD directions and as advised by the Additional Secretary -1, Member BoD, the matter is being reported so as the Power Division may consider placing some restrictions on future employment of Syed Tanvir Ahmad Jafri in the power sector due to severe acts of misuse of authority and breach of trust.
The sources said, GHCL Management has already constituted an inquiry committee with a direction to submit its report within ten working days. The inquiry committee report will be shared with the Ministry of Energy (Power Division) as soon as it is concluded.
Copyright Business Recorder, 2022
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