Pakistan State Oil Board of Directors Chairman Sardar Yasin Malik has tendered his resignation from his post. According to sources this is the second head of a public sector entity under the administrative control of the Petroleum Ministry who was forced to leave his office under pressure after the resignation of Oil and Gas Development Company Limited Managing Director Zahid Hussain.
Yasin had been working in the PSO for last five years before being elevated to Chairman Board of Directors, which he had also served as its member. He is a reputed industrialist in pharmaceutical industry and owns one famous pharmaceutical company. He is also well known in the business community for different charity projects.
Sources told Business Recorder that after the resignation of former advisor to Prime Minister on Petroleum and Natural Resources Dr Asim Hussain, the management of public sector entities in oil and gas sector was not comfortable with the current Minister for Petroleum and Natural Resources Syed Naveed Qamar.
Sources said that key office-bearers in other public sector entities are also working under pressure in the current setup of the Petroleum Ministry and resignations from other key office holders are on the cards. "Yasin Malik had been trying hard to keep PSO on track despite financial constraints due to problems such as circular debt.