ISLAMABAD: The dispute of election of Central Chairman of Pakistan Sugar Mills Association (PSMA) for 2024-26 has landed in Director General of Trade Organisations (DGTO), an arm of Commerce Ministry and Securities and Exchange Commission of Pakistan (SECP).
Pakistan Sugar Mills Association (PSMA) Khyber-Pakhtunkhwa (KPK) has elected Abbas Sarfaraz Khan as the Central Chairman of PSMA for 2024-2026. On October 7, 2024, according to an official announcement, the election of office-bearers for the Khyber-Pakhtunkhwa Zone of the PSMA was held on September 30, 2024.
The following individuals have been unanimously elected as members of the Executive Committee and office-bearers for the 2024-2026: (i) Rizwan Ullah Khan of Premier Sugar Mills (Chairman/Executive Committee Member, PSMA-Khyber Pakhtun-khwa Zone); (ii) Muhammad Bilal Bhatti of Al-Moiz Sugar Mills, Dera Ismail Khan (Executive Committee Member, PSMA- Khyber Pakhtunkhwa Zone); and (iii) Nusrat Ali Khan of Chashma Sugar Mills Limited (Executive Committee Member, PSMA- Khyber-Pakhtunkhwa Zone).
The election of Chairman PSMA (Central) Abbas Sarfraz was conducted in accordance with the clause 18 (iii), under the Articles of Association for the election of chairman by rotation from the regions. However, on October 10, 2024, PSMA (Central) issued a press release, according to which, PSMA has elected new Chairman at a meeting of Executive Committee of the Association.
The official press further stated that through voting, the opinion of the Members of the Executive Committee was sought for the vacancy of the Chairman. Six out of nine executive members voted in favour of Faisal Ahmed Mukhtar who was elected by majority vote. The press release has further claimed that the General Body of the association appreciated the decision of the executive committee and congratulated the new Chairman Faisal Mukhtar.
On October 11, 2024, Jawed Hussain, Advocate sent letters to Registrars of SECP and DGTO against recent announcement of PSMA (Central) for election of Faisal Mukhtar as Chairman (Central). According to the letters “under instructions from and on behalf of our client Rizwan Ullah Khan, Chairman KPK Zone, All Pakistan Sugar Mills Association and the member of Central Executive Committee, it is reported that as per principle of rotation of the Association, Abbas Sarfaraz Khan of Chashma Sugar Mills Limited from the KPK Zone has been elected as the Chairman of Pakistan Sugar Mills Association (Central) for the period 2024-26. A copy of the announcement of October 7, 2024 made by the Election Commission has also been shared with the Registrars of both Regulators.”
Copyright Business Recorder, 2024