ISLAMABAD: The prime minister has extended the tenure of Muhammad Naeem Ghouri as Member (Finance) of the Oil and Gas Regulatory Authority (OGRA) for four months, effective from July 20, 2024.

This decision came in response to a summary seeking a one-year extension to ensure the continued functioning of OGRA.

The notification further states that the summary will be presented to the federal government for consideration through circulation.

The OGRA, established under the OGRA Ordinance, 2002, consists of a chairman and three additional members, including a member gas, a member oil, and a member finance.

According to the ordinance, the member gas must have a relevant degree and at least 20 years of experience in the natural gas sector. Similarly, the member (finance) is required to have the same level of experience in corporate finance or accounting.

Masroor Khan was appointed as chairman of OGRA in February 2021 for a four-year term.

Zaiulabideen Qureshi, Member (Oil) OGRA, was appointed in October 2020 for a three-year term, which was later extended for another three years with additional responsibilities as Member (Gas). The appointments of the Chairman and Member (Oil) OGRA by former Special Assistant to the Prime Minister Mirza Shahzad Akbar were challenged in the Islamabad High Court.

The petitioner argued that the prime minister reconstituted the selection committee for these positions on July 14, 2020, and that Shahzad Akbar was not qualified to head such a committee.

Copyright Business Recorder, 2024