ISLAMABAD: The Federal Government is unlikely to appoint an expatriate Pakistani as Managing Director of National Transmission and Despatch Company (NTDC) against a salary of $ 15,000 (Rs 2.4 million) per month which, according to Board Negotiation Committee is too high compared to market trends, sources close to Power Minister told Business Recorder.

Sharing the details, sources said, Board of Directors National Transmission & Despatch Company (NTDCL) initiated the recruitment process for the post of Managing Director NTDCL as per the Companies Act 2017, the Public Sector Companies (Corporate Governance) Rules, 2013 (amended from time to time) and Public Sector Companies (Appointment of Chief Executive) Guidelines, 2015. Advertisement for the post of Managing Director, NTDC was published by BoD NTDCL on April 21, 2020. In response to the advertisement, a total of 47 applications were received. After screening, 19 eligible candidates were shortlisted for the interview process. A total of 15 candidates (4 candidates were absent) were interviewed by the Board of NTDC on December 07, 2020 and December 08.12.2020. All candidates were evaluated as per fit and proper criteria prescribed under the Public Sector Companies (Corporate Governance) Rules. 2013 (amended in 2017) and Public Sector Companies (Appointment of Chief Executive) Guidelines, 2015.

The Board of Directors of NTDCL in its 178th meeting dated October 14, 2020 unanimously resolved to recommend the following four candidates in order of merit for the concurrence of federal government: (i) Azaz Ahmed; (ii) Mujahid Pervaiz Chattha; (iii) Maj. Gen. Muhammad Azeem Asif (retd) and (iv) Mujahid Islam Bila.

Thereafter, the Board authorized the Board Negotiation Committee to negotiate the over all salary package with the above recommended candidates.

The Board Negotiation Committee noted that Azaz Ahmed has demanded a $ 15,000 per month salary, "which is too high as compared to the market trends".

The other three candidates have sought MP-I Pay Scale (maximum) along with all the perks and benefits.

Azaz is an MSc (engineering) and has been working in Canada.

In terms of Rule-5(2) of the Public Sector Companies (Corporate Governance) Rules, 2013 (amended in 2017) the Board of Directors are mandated to recommend at least three individuals to the Government for appointment as the Chief Executive/Managing Director of the Public Sector Company. On receiving concurrence of the Government, the Board shall appoint the Chief Executive/Managing Director in accordance with the provisions of the Act.

Copyright Business Recorder, 2021