Islamabad: A meeting of the Sub-Committee of the Senate Standing Committee on Petroleum was held at Parliament Lodges under the convenership of Senator Manzoor Ahmad Kakar. The meeting was attended by Committee Member Senator Rana Mahmood ul Hassan, the Special Secretary of the Ministry of Energy, and other senior officials.<\/p>\n\n\n\n
The Sub-Committee undertook a detailed review of the legal and regulatory framework governing board appointments, with the objective of identifying governance gaps and formulating effective corrective recommendations. The Committee examined the composition and appointment procedures of boards of various public and semi-public entities, including Pakistan Petroleum Limited (PPL), Oil and Gas Development Company Limited (OGDCL), Saindak Metals Limited, Pakistan LNG Limited, Sui Southern Gas Company Limited (SSGC), Pakistan State Oil Company Limited (PSO), Government Holdings (Private) Limited (GHPL), Inter State Gas Systems (Private) Limited (ISGS), Pakistan Mineral Development Corporation (PMDC), Sui Northern Gas Pipelines Limited (SNGPL), and Pak-Arab Refinery Limited (PARCO).<\/p>\n\n\n\n
During the briefing, the Special Secretary of the Ministry of Energy (Power Division) informed the Committee that seven candidates had been shortlisted for the Board of Pakistan Petroleum Limited from a larger pool of nominees. Senator Manzoor Ahmad Kakar highlighted concerns that some shortlisted individuals had previously been placed on the Exit Control List (ECL), while others were serving on multiple boards and had audit objections against them. He emphasized that appointments must strictly adhere to merit to ensure that competent and honest individuals serve in key positions.<\/p>\n\n\n\n
The Special Secretary further informed that one officer had been removed from the shortlist following an internal inquiry. It was also clarified that prior to the enforcement of the Companies Act, appointments of Managing Directors (MDs) and Chief Executive Officers (CEOs) were made by the government; however, this authority now rests with the respective Boards of Directors, in accordance with the prevailing legal framework.<\/p>\n\n\n\n
The Sub-Committee unanimously recommended amendments to the relevant provisions of the State-Owned Enterprises (SOEs) Act, 2023, to restore the authority for the appointment of MDs and CEOs to the Federal Government, in line with Articles 90, 91, and 99 of the Constitution, while retaining the advisory role of the Boards of Directors. The Committee also recommended the establishment of a transparent and structured performance evaluation mechanism, ensuring effective involvement of the concerned Ministry or Division to maintain accountability, oversight, and alignment with national policy.<\/p>\n\n\n\n
The Committee was also briefed on the current petroleum supply situation in the country. The Special Secretary stated that approximately 90 percent of Pakistan\u2019s petroleum supplies are imported from Gulf countries via the Strait of Hormuz, with shipments typically reaching Pakistan within eight days. In case of any disruption in the Strait, alternative routes would need to be considered. It was further noted that around 60 percent of India\u2019s, 45 percent of China\u2019s, and 80\u201390 percent of Japan\u2019s oil supplies also pass through the same route. Pakistan currently maintains petroleum reserves sufficient for approximately one month, and oil consumption has increased compared to last year.<\/p>\n\n\n\n
Regarding the gas sector, the Committee was informed that imported gas from Qatar remains available; however, due to recent attacks on two major refineries there, full restoration of supply may take some time. The Committee was also apprised that exploration activities for oil and gas are ongoing, with significant gas reserves recently discovered in the Tal Block.
On LPG, it was highlighted that approximately 50 percent is imported from Iran, 15 percent from other countries, while the remainder is met through local production. It was also noted that LPG is typically the first product obtained when new oil reserves are dis<\/p>\n\n\n\n
Concluding the meeting, Senator Manzoor Ahmad Kakar stressed the need to ensure transparency, merit, and an effective oversight mechanism to promote responsible and efficient utilization of national resources.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad: A meeting of the Sub-Committee of the Senate Standing Committee on Petroleum was held at Parliament Lodges under the convenership of Senator Manzoor Ahmad Kakar. The meeting was attended by Committee Member Senator Rana Mahmood ul Hassan, the Special Secretary of the Ministry of Energy, and other senior officials. The Sub-Committee undertook a detailed […]<\/p>\n","protected":false},"author":2,"featured_media":646,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":""},"categories":[11,12],"tags":[],"class_list":["post-645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-pakistan"],"yoast_head":"\n