AGL 38.09 Increased By ▲ 0.15 (0.4%)
AIRLINK 195.00 Increased By ▲ 1.09 (0.56%)
BOP 9.35 Increased By ▲ 0.03 (0.32%)
CNERGY 5.82 Decreased By ▼ -0.02 (-0.34%)
DCL 8.46 Decreased By ▼ -0.22 (-2.53%)
DFML 35.35 Decreased By ▼ -1.11 (-3.04%)
DGKC 95.20 Increased By ▲ 2.66 (2.87%)
FCCL 35.30 Increased By ▲ 1.33 (3.92%)
FFBL 85.66 Increased By ▲ 3.36 (4.08%)
FFL 12.77 Increased By ▲ 0.02 (0.16%)
HUBC 124.99 Increased By ▲ 4.38 (3.63%)
HUMNL 13.50 Decreased By ▼ -0.10 (-0.74%)
KEL 5.22 No Change ▼ 0.00 (0%)
KOSM 6.95 Increased By ▲ 0.43 (6.6%)
MLCF 44.20 Increased By ▲ 2.09 (4.96%)
NBP 59.89 Increased By ▲ 0.08 (0.13%)
OGDC 213.01 Increased By ▲ 1.84 (0.87%)
PAEL 37.95 Increased By ▲ 0.37 (0.98%)
PIBTL 8.08 Increased By ▲ 0.01 (0.12%)
PPL 190.90 Increased By ▲ 0.58 (0.3%)
PRL 38.82 Increased By ▲ 0.65 (1.7%)
PTC 25.50 Increased By ▲ 2.05 (8.74%)
SEARL 100.00 Increased By ▲ 2.06 (2.1%)
TELE 8.06 Decreased By ▼ -0.16 (-1.95%)
TOMCL 34.50 Decreased By ▼ -0.53 (-1.51%)
TPLP 13.20 Decreased By ▼ -0.35 (-2.58%)
TREET 22.06 Decreased By ▼ -0.67 (-2.95%)
TRG 54.42 Increased By ▲ 1.55 (2.93%)
UNITY 33.20 Increased By ▲ 0.24 (0.73%)
WTL 1.54 Increased By ▲ 0.02 (1.32%)
BR100 11,538 Increased By 154.1 (1.35%)
BR30 35,739 Increased By 527.2 (1.5%)
KSE100 107,844 Increased By 1568.6 (1.48%)
KSE30 33,929 Increased By 576 (1.73%)

The Punjab Industrial Estate Development and Management Company (PIEDMC) is flouting a notification from the Punjab government seeking removal of President Sundar Industrial Estate (SIE) Usman Aslam Malik and Senior Vice President Tariq Ijaz Ch for their illegal appointment.
A letter has been addressed to the Chief Executive Officer of PIEDMC to withdraw the notification for appointment of President Sundar Industrial Estate (SIE) Usman Aslam Malik and Senior Vice President Tariq Ijaz Ch. Meanwhile, the department has entrusted an enquiry to Senior Economic Advisor Industries, Commerce and Investment Department in this regard.
It may be noted that the Business Recorder had reported in the month of July that the business community is concerned over illegal and irregular appointment of Usman Malik under Rule 14 (e) of the Rules of Business of Board of Managements which is about ineligibility of certain persons to become president and stipulates that no person shall be appointed as the President of Board of Managements if he has any dues payable to the PIEDMC. The sources had informed that the Sundar Industrial Estate has already served a show cause notice on May 05, 2018, on Usman Malik for payment of Rs4661,718 against Plot No.194 situated in Sundar Industrial Estate. This default of payment is on account of non-utilization of fee. Usman Malik was a defaulter of the Company on the date of his appointment and was ineligible to be appointed as the President.
According to the well-placed sources, this news was followed by an inquiry from the department and a notification was issued to remove both Chairman and Senior Vice Chairman respectively. However, the bigwigs at the PIEDMC are delaying the execution of the removal order. Sources said the continuity of both of them in their office is causing colossal loss to the Company and efforts are underway to fulfill the objectives behind their appointment as Chairman and Senior Vice Chairman.

Copyright Business Recorder, 2018

Comments

Comments are closed.