Federal cabinet meeting to be chaired by Prime Minister Imran Khan on January 10 is expected to approve appointment of a number of new members of PIA Board of Directors.
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Appointment of a Number of New Members of PIA Board Due to be Approved by Cabinet
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Appointment of a Number of New Members of PIA Board Due to be Approved by Cabinet
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Abbas Ali
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Re: Appointment of a Number of New Members of PIA Board Due to be Approved by Cabinet
PIACL board
Cabinet to approve replacement of 3 members today
MUSHTAQ GHUMMAN
ISLAMABAD: The federal cabinet which is scheduled to meet on Thursday (today) with Prime Minister Imran Khan in the chair will approve replacement of three members of the board of the Pakistan International Airline Corpo-ration Limited (PIACL).
Sources told Business Recorder that the three existing members of the PIACL Farukh Khan, Navaid Malik and Muhammad Ali Tabba are proposed to be replaced with Dr Waqar Masood, Zafar Khan and Adnan Afridi respectively.
PIACL, board in its 11th Meeting held on 18th April, 2017, fixed the number of directors as ‘Eleven’. Further PIACL Board in its 12th meeting decided that one Director shall be elected by the share holders at the first AGM. Government’s participation in such an election will be to the extent of its votes after excluding the total votes which would have been sufficient to elect ten Directors as per Section 183 of Companies Ordinance 1984. In terms of Public Sector Companies (Corporate Government) Rules 2013 (3-A) a director nominated by Government shall hold office in accordance with Section 165(3) of the judgment and independence in the best interest of the Company. These functions can be translated when PIACL have competent and dynamic Directors on its Board. PIA is suffering from severe and chronic financial crisis. PIACL Board needs expertise in various fields such as management and finance to make it vibrant and profitable. In this regard, appropriate expertise in diverse fields is the need of the hour.
In view of the problems being faced by PIACL, the Government has been taking active steps for its revival and to make it a profitable entity. In order to achieve this end, following replacements are proposed in the PIACL Board.
Minister for Aviation Division has seen and authorized submission of the summary to the Cabinet.
Source: brecorder.com
Cabinet to approve replacement of 3 members today
MUSHTAQ GHUMMAN
ISLAMABAD: The federal cabinet which is scheduled to meet on Thursday (today) with Prime Minister Imran Khan in the chair will approve replacement of three members of the board of the Pakistan International Airline Corpo-ration Limited (PIACL).
Sources told Business Recorder that the three existing members of the PIACL Farukh Khan, Navaid Malik and Muhammad Ali Tabba are proposed to be replaced with Dr Waqar Masood, Zafar Khan and Adnan Afridi respectively.
PIACL, board in its 11th Meeting held on 18th April, 2017, fixed the number of directors as ‘Eleven’. Further PIACL Board in its 12th meeting decided that one Director shall be elected by the share holders at the first AGM. Government’s participation in such an election will be to the extent of its votes after excluding the total votes which would have been sufficient to elect ten Directors as per Section 183 of Companies Ordinance 1984. In terms of Public Sector Companies (Corporate Government) Rules 2013 (3-A) a director nominated by Government shall hold office in accordance with Section 165(3) of the judgment and independence in the best interest of the Company. These functions can be translated when PIACL have competent and dynamic Directors on its Board. PIA is suffering from severe and chronic financial crisis. PIACL Board needs expertise in various fields such as management and finance to make it vibrant and profitable. In this regard, appropriate expertise in diverse fields is the need of the hour.
In view of the problems being faced by PIACL, the Government has been taking active steps for its revival and to make it a profitable entity. In order to achieve this end, following replacements are proposed in the PIACL Board.
Minister for Aviation Division has seen and authorized submission of the summary to the Cabinet.
Source: brecorder.com
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