Mustafa Ramday appointed PSO chairman for three years

The federal government appointed Mustafa Ramday chairman and independent director of Pakistan State Oil Company PSO for a three-year term with immediate effect, as it reconstituted the oil marketer’s board.

The new independent directors are Ramday, Muneeb-ul-Haq, Aftab Hussain, Imtiaz Hussain Kazi and Saira Shahid Hussain. The board also includes the secretaries of the Petroleum, Power and Finance divisions, or representatives at least at BS-20 level, and the chief executive of Pakistan LNG Limited as ex-officio members.

Reports differ on whether PSO’s chief executive is also part of the reconstituted board. One account lists the company’s chief executive as an executive member, while other descriptions give a board composition without that position.

Ramday has more than 28 years of experience in constitutional, commercial and energy-sector law, and is an Advocate of the Supreme Court of Pakistan. He said he would serve PSO in an honorary capacity.

I will not charge PSO any directors’ fees, travel, boarding, lodging or other costs

PSO is Pakistan’s largest oil marketing company and distributes products including motor gasoline, high-speed diesel, furnace oil, jet fuel, kerosene, CNG, LPG, petrochemicals and lubricants.