ISLAMABAD: The Finance Ministry has decided to hire the Chief Executive Officer (CEO) of Pakistan Development Fund Limited (PDFL) whose primary purpose is to provide alternative funding sources to financially viable Public Sector Development Projects (PSDP).
PDFL is a public limited company registered under the Companies Ordinance 1984 (Companies Act 2017). PDFL has obtained a licence from the Securities and Exchange Commission of Pakistan (SECP) to operate as a Non-Banking Finance Company (NBFC) under Non-Banking Finance Companies and Notified Entities Regulations, 2008 (the Regulations).
The primary purpose of PDFL is to provide alternative funding sources to financially viable PSDP.
The Finance Division has sought applications for the post of CEO and asked that interested applicants should send applications within 15 days of the publication of this advertisement.
Dar chairs meeting on role of PDFL, SOEs
The applicant should have a Master’s degree or equivalent in accounting/finance/economics/business administration with relevant work experience of at least 15 years. Candidate with experience of heading a similar organisation or a project finance lending institution for at least five years will be preferred as well as experience in planning and directing organisation activities toward achieving agreed targets and performance indicators - financial, organizational and legal compliance.
The candidate must meet the fit and proper criteria of SECP and not be over 55 years of age on the last date of submission of the application.
The position will be initially for three years and extendable to another term subject to performance. It may be terminated with one month’s notice by either side.
The chief executive officer will lead the operations of PDFL and report to the Board of Directors (BoD) of PDFL.
Specific tasks of the CEO will Include; (a) lead the development and implementation of corporate strategy, business plan, operational procedures, polices, guidelines, and standards following international best practices, as approved by the Board of Directors of PDFL; (b) lead the development of policy manuals and systems for project and credit approvals, and periodic project monitoring and evaluation; (c) lead the development of the array of financing products – investment finance services, equity funds, structural loans, syndicated loans) to be offered by PDFL to the target market; (d) coordinate with all key stakeholders in the government, International Financial Institutions (IF1s) and private sector to streamline efforts for the initiatives relating to infrastructure financing and public-private partnerships; (e) regularly interact with multilateral and bilateral agencies, export credit agencies, other local and foreign financers and investors and liaise with the government for adequate policy making to support infrastructure market development in the country; (f) administering and managing the business assets, and services of PDFL; (g) Recruit and lead a team of professionals; (h) tap funding sources, both locally and internationally, to raise capital of PDF; (i) Develop key performance indicators to monitor effectiveness and efficiency of PDFL’s overall performance in achieving outputs, outcomes and impacts highlighted in the business plans and annual operations plans; (j) submitting, on a periodic basis, the report of PDFL activities to the Board of Directors, in the manner prescribed by the Board of Directors; (k) Providing the relevant authorities with data on budgetary matters and other information related to the progress of PDFL’s efforts and operations; (l) making appropriate arrangements to ensure that funds and resources are properly safeguarded and are used economically, efficiently, effectively and in accordance with all statutory obligations.
Copyright Business Recorder, 2024
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