The Power Division is likely to appoint Syed Ali Javed Hamdani as Chief Executive Officer (CEO), National Power Parks Management Company (Private) Limited (NPPMCL) with incumbent Chairman Nepra, Tauseef. H. Farooqi the third in order of the preference, well informed sources in Power Division told Business Recorder.
Sharing the details, the sources said, Board of Directors of NPPMCL in its meeting held on September 4, 2018 directed to initiate process of hiring a permanent CEO, after the charge relinquishment of ex-CEO. Therefore, after obtaining required NoC, the post was advertised on January 15, 2019 in national press and on the website of the company.
By the last date of receiving applications i.e. January 30, 2019, 31 applications were received. Human Resource committee of the Board in its meeting of February 1, 2019 evaluated all the applications and shortened it to nine candidates for preliminary interviews.
The BoD in its meeting held on April 6, 2019 examined all the processes and actions observed / taken by the HR committee and conducted the interviews of the recommended candidates keeping in view the broad guidelines provided in the Public Sector Companies (appointment of Chief Executive) Guidelines 2015 and fit and proper criteria provided in the Public Sector Companies (Corporate Governance) Rule 2013.
The Board also assessed the candidates as to how they presented their strategic vision for running the affairs of the company and the skill set including their expertise/ sectoral knowledge, leadership, strategic vision, as well as communication skills. The Board also assessed the expected salary/ package demand of the candidates.
Accordingly, the Board finalised the ranking and recommended the names of three candidates, in order of the preference, with a view to seeking concurrence of the government on one of the following names for appointment as CEO, NPPMCL, in terms of Rule 5(2) of the Public Sector Companies (Corporate Governance) Rules, 2013: (i) Syed Ali Javed Hamdani; (ii) Salman Zakria; and (iii) Tauseef. H. Farooqi.
According to the Rules the Board has to recommend at least three individuals to the government for appointment as CEO in public sector companies and on receiving concurrence of the government, the Board will appoint the CEO.
While concluding the recommendation, the Board decided that the government be informed about the monthly salary/ package that may be negotiated and offered with the final candidate of the CEO, which would range from Rs 2,201,732 to Rs 2,818,217 plus other benefits available in the HR manual of the company.
Keeping in view the two power plants owned by the company i.e. 1,230 MW Haveli Bahadar Shah and 1,223 MW Balloki are on the active list of privatisation program of the GoP therefore, the clearance of the Privatisation Commission was sought which has been granted.
Power Division, has sought concurrence of federal cabinet to select one of the three candidates as CEO, NPPMCL while the monthly salary ranging from Rs 2,201,732 to Rs 2,818,217 which the Board of the company will negotiate and firm up the offer with the candidate to be appointed pursuant to the concurrence of the government, together with other benefits available in the HR manual of the company.
Copyright Business Recorder, 2019