8 private sector leaders nominated to Sarmaya-i-Pakistan board

Published March 6, 2019
An inside view of the Pakistan Steel Mills. — Dawn Newspaper/File
An inside view of the Pakistan Steel Mills. — Dawn Newspaper/File

The federal government on Wednesday appointed eight members of the private sector to the board of directors of Sarmaya-i-Pakistan Limited (SPL), a holding company that will administer state-owned enterprises under an ambitious program to turn these enterprises around.

The people appointed to the board include:

Kamran Y. Mirza

Chairman of the government's Planning Commission, Chairman for Unilever Pakistan Foods and Chairman for Philip Morris (Pakistan). He is also also the Chairman of Education Fund for Sindh and a member of Institute of Chartered Accountants in England & Wales.

Musharaf Hai

Managing director of L'Oreal (Pakistan) and a former chairperson of Unilever Pakistan. She is the only woman and only the second Pakistani to lead the Unilever operations in the country.

Zubyr Soomro

Career banker and former chairman of Karachi Stock Exchange, former chairman & president of United Bank Ltd, former chairman of Pakistan Banks' Association, former chairman of Pakistan Banks' Association and former president of American Business Council.

Nadeem Babar

CEO of Orient Power Company and former head of Saba Power Company, Phoenix Energy Systems and Oursun Solar Power Limited.

Ehsan Malik

Chief Executive of Lever Chemical, Lever Associated Pakistan Trust, Unilever Birds Eye Foods Pakistan and Sadiq Limited. He is also the CEO of Pakistan Business Council.

Atif Aslam Bajwa

President of Abu Dhabi Group, former president and CEO of Bank Alfalah Limited.

Badar Badat

Waqar A. Malik

With the addition of these eight new members, the SPL board of directors now has a total of eleven members. The other three members include:

  • Secretary Finance Division Arif Ahmed Khan

  • Secretary Power Division Irfan Ali

  • Secretary Industries and Production Azher All Choudhry

According to Minister of Finance Asad Umar, there will be five areas the board has been tasked to look after.

"They are power, oil and gas, manufacturing, financial services and logistics, and each 'vertical' will be responsible for developing the guidance and strategic direction of the entities under its control," the finance minister earlier told Dawn.

"Functional guidance as well as business guidance will come from the verticals. Decisions such as what to keep, what to shut down, hiring and firing decisions in individual companies will remain with their respective boards. Guidance on layoffs can come from the verticals but the power to do so will be with the board.”

Once the SPL is made functional, and enterprises begin to be clubbed under it, advice and guidance will come from the company verticals instead of the ministries.

Opinion

Window of opportunity
05 Mar 2021

Window of opportunity

How do we ensure growth revival built on a sustainable, efficient and stable foundation?
March for freedom
Updated 05 Mar 2021

March for freedom

Those demanding ‘azadi’ are moving society forward.
More of the same
Updated 04 Mar 2021

More of the same

Civil society groups and political parties tend to treat their paid employees as casual labour.

Editorial

Ravi project
Updated 05 Mar 2021

Ravi project

THE assault by an enraged group of farmers on a provincial revenue team assigned to acquire land for the...
05 Mar 2021

Climate change

PAKISTAN received much less rainfall in January 2021 as compared to previous years, making it the 17th driest month...
05 Mar 2021

Antimicrobial resistance

WITH the focus on Covid-19, many health issues, though otherwise recognised as serious medical problems, tend to be...
04 Mar 2021

Senate upset

THE Senate election results have delivered a stunning blow to the PTI. While the ruling party has seen an increase ...
ME ‘security pact’
Updated 04 Mar 2021

ME ‘security pact’

THERE has been an overflowing of bonhomie between the Gulf Arabs and Israel over the past few months, much of it...
04 Mar 2021

Students’ protest

A GROUP of university students in Karachi and Hyderabad caught the media’s attention when they announced a...