Pakistan LNG Limited replaces its top manager

Published August 24, 2019
The state-owned operator announced the decision on Saturday but didn't give a reason for the abrupt change. — Logo courtesy of PLL
The state-owned operator announced the decision on Saturday but didn't give a reason for the abrupt change. — Logo courtesy of PLL

Pakistan LNG Limited (PLL) has replaced its top manager with immediate effect, appointing Shahid Yousaf as managing director and chief executive,

The state-owned operator announced the decision on Saturday but didn't give a reason for the change.

Former chief executive Adnan Gilani, a United States-educated former Wall Street executive who had been the main public face of Pakistan’s push into the liquefied natural gas sector, “will no longer be associated with PLL and we wish him the best,” it said in an emailed statement.

“Yousaf brings a vast and rich experience of LNG sector to lead and grow the operations of the company,” it said.

The group gave no explanation for the abrupt change in leadership but denied reports in the local press that the move was connected with an anti-corruption investigation.

“Gilani’s resignation is due to reasons unrelated to any National Accountability Bureau investigation,” it said in a separate statement. It said Gilani was a “world class professional” and added that the company had achieved “remarkable results” under his leadership.

No comment was immediately available from Gilani.

Islamabad has stepped up its purchases of LNG sharply in recent years as it has grappled with a chronic energy and fuel crisis that has led to repeated power outages and weighed on the struggling economy.

In March, Gilani told an investment conference that Pakistan’s LNG purchases could triple over the next three to five years to as much as 30 million tonnes.

It was not immediately clear whether the management change would have any impact on any long term contracts under discussion with Pakistan LNG, which buys liqueifed natural gas from the international market to supply to the domestic market.

The drive into the LNG sector was initiated under the previous government of former prime minister Nawaz Sharif and has been the subject of a series of corruption investigations targeting officials including Sharif and his successor Shahid Khaqan Abbasi.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Back in parliament
Updated 27 Jul, 2024

Back in parliament

It is ECP's responsibility to set right all the wrongs it committed in the Feb 8 general elections.
Brutal crime
27 Jul, 2024

Brutal crime

No effort has been made to even sensitise police to the gravity of crime involving sexual assaults, let alone train them to properly probe such cases.
Upholding rights
27 Jul, 2024

Upholding rights

Sanctity of rights bodies, such as the HRCP, should be inviolable in a civilised environment.
Judicial constraints
Updated 26 Jul, 2024

Judicial constraints

The fact that it is being prescribed by the legislature will be questioned, given the political context.
Macabre spectacle
26 Jul, 2024

Macabre spectacle

Israel knows that regardless of the party that wins the presidency, America’s ‘ironclad’ support for its genocidal endeavours will continue.