Board of Directors
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The Company is managed by a Board of 14 Directors. The present composition of Board is as follows:
|Shareholder||%age||No of Directors|
|Fauji Foundation||40.00%||6||View Profile|
|Government of Pakistan||18.39%||3||View Profile|
|General Public||21.61%||2||View Profile|
Directors Representing Fauji Foundation
|Name||Mr. Waqar Ahmed Malik||Qualification||Fellow Member of the Institute of Chartered Accountants in England & Wales|
|Designation||Managing Director, Fauji Foundation|
|Date of Joining||09/04/2020|
|Category||Non – Executive Director and Chairman of the Board|
|Address||Fauji Foundation Head Office, 68 Tipu Road, Chaklala, Rawalpindi|
Mr. Waqar Ahmed Malik joined Fauji Foundation as Managing Director and Chief Executive Officer on 9th April 2020. Mr. Malik is a fellow of the Institute of Chartered Accountants in England and Wales and is also an alumnus of the Harvard Business School and INSEAD.
Earlier, his career with The ICI Plc Group based in the UK spanned over 27 years and then later with Akzo Nobel N.V. based in The Netherlands.
For around 10 years, he served as the Chief Executive Officer of ICI Pakistan Limited and also the Chief Executive Officer and Chairman of Lotte Pakistan Limited (formerly Pakistan PTA Limited). During his career with ICI and AkzoNobel, he worked in Europe and Americas in Corporate Finance and Strategy Departments.
Presently, he is serving as Chairman on the Boards of Fauji Group Companies; Mari Petroleum Company Limited, Fauji Fertilizer Company Limited, FFC Energy Limited, Fauji Fresh n Freeze Limited, Fauji Cement Company Limited, Askari Cement Limited, Askari Bank Limited, Fauji Akbar Portia Marine Terminal Limited, Fauji Trans Terminal Limited, Fauji Oil Terminal and Distribution Company Limited, Fauji Infraavest Foods Limited, Foundation Wind Energy-I & II Limited, Foundation Power Company Daharki Limited, Fauji Kabir Wala Power Company Limited, Fauji Fertilizer Bin Qasim Limited, FFBL Power Company Limited, Foundation Solar Energy (Private) Limited and Daharki Power Holdings Limited.
He is also Chairman of Pakistan Oxygen Limited (formally Linde Pakistan, a subsidiary of Linde AG) acquired by Adira Capital Holdings (Private) that he co-founded.
Earlier, Mr. Malik also served on boards of PPL – Chairman (Non-Executive & Independent), Engro Corporation Limited – Director (Non-Executive & Independent), Standard Chartered Bank Pakistan Limited – Director (Non-Executive & Independent), Engro Polymer and Chemicals Limited – Director (Non-Executive & Independent) and TPL Insurance Limited – Director (Non-Executive).
He has been playing an instrumental role in development of Pakistan’s Regulatory System as well as for the advocacy to undertake economic reforms. Few of his other engagements have been as Director – State Bank of Pakistan, President – Overseas Chamber of Commerce & Industry (OICCI),President – Management Association of Pakistan (MAP) and Director – Pakistan Business Council (PBC).
Mr. Malik was a member of the visiting faculty of Pakistan Institute of Corporate Governance, Former Member of Board of Governors of Lahore University of Management Science (LUMS) and Former Member of Board of Indus Valley School of Arts.
He participates actively in social and philanthropic activities through I – Care Foundation, as a Trustee, he contributes to improve the quality of life of underprivileged by enhancing the level of philanthropic support.
A trustee of Duke of Edinburgh Trust Pakistan, he was awarded Prince of Wales Medal as a Trustee of the Prince of Wales Pakistan Recovery for the Flood Victims in 2010.
|Name||Syed Bakhtiyar Kazmi|
|Qualification||Fellow Member of the Institute of Chartered Accountants of Pakistan|
|Designation||Director Finance, Fauji Foundation|
|Date of Joining||18/11/2020|
|Committee||Member Audit, Technical and Investment Committees|
|Address||Fauji Tower, 68 Tipu Road, Chaklala, Rawalpindi Cantt|
Syed Bakhtiyar Kazmi joined MPCL Board on November 18, 2020. He is a non-executive Director and Member of the Board’s Audit, Technical and Investment Committees.
Mr Kazmi is currently serving as Director Finance in Fauji Foundation.
He is an FCA with over 35 years of experience in a diverse range of sectoral and functional strata within national and regional economies. The key areas of his specialization are fiscal policy and macroeconomic research, greenfield and brownfield projects, strategic collaborations, mergers and acquisitions, outliers in accounting and finance, strategic level audit and assurance, tax reforms and strategic level advisory.
He served in KPMG for 35 years including 25 years as a partner. As a partner, he interacted with the leadership in almost every industry, gaining valuable understanding and insights. His rigorous exposure to a diverse range of sectors and projects enabled him to conceive and culminate strategic value additions for his diverse clientele in public and private sectors. He successfully implemented a comprehensive service delivery framework that ensures quality assured service provision to KPMG’s clients, and a cross-functional integration with the advisory and taxation services that allowed a robust and comprehensive service delivery package to the clients.
As an auditor and an advisor, Mr Kazmi successfully delivered best-in-class and integrity driven services. With his career progression, he branched into macroeconomic research with a focus on contributing towards fiscal and regulatory policies of Pakistan. He almost single-handedly established advisory practice of KPMG in Islamabad about 2 decades ago, which today is the go to advisory in Islamabad. This initiative covered financial projections, feasibilities, information memoranda, internal audit assessments, HR assessments, manuals for processes and controls, valuations, and development advisory which included an assessment of the Punjab and Sindh governments.
Mr. Kazmi has served on a number of diverse forums / boards in the private sector, public sector & civil society organization. As a thinker, he actively spreads his thoughts and ideas through his articles on national economics, business and taxation mattes and issues, which are regularly published in reputable dailies.
Mr Kazmi is an avid golfer and currently holds the position of captain of Islamabad Golf Club.
Currently, he is also on the Boards of Fauji Fertilizer Company Limited, Fauji Fertilizer Bin Qasim Limited, Fauji Foods Limited, Askari Bank Limited, Fauji Cement Company Limited, Fauji Oil Terminal and Distribution Company Limited, Fauji Akbar Portia Marine Terminals Limited, Fauji Kabirwala Power Company Limited, Daharki Power Holdings Limited, Foundation Power Company Daharki Limited, Fauji Infraavest Foods Limited, Askari Cement Limited, Foundation Solar Energy (Private) Limited & FTTL.
|Name||Mr. Jamil Akbar|
|Qualification||Fellow Member of the Institute of Chartered Accountants of England & Wales|
|Designation||General Manager Energy and M&A, Fauji Foundation|
|Date of Joining||10/09/2020|
|Committee||President Technical Committee, Member Investment Committee|
|Address||Fauji Foundation Head office, 68 Tipu Road, Chaklala, Rawalpindi|
Mr. Jamil Akbar joined MPCL Board on September 10, 2020. He is a non-executive Director and President Technical Committee & Member Investment Committee.
Presently, he is working as GM Strategy and M&A, Fauji Foundation
He holds an MBA from INSEAD, France, is a qualified Chartered Accountant from the Institute of Chartered Accountants in England & Wales and holds a B.Eng. (Mechanical) from Imperial College (UK).
Mr Akbar has over 20 years of multinational experience in general management, strategy and private equity.
Previously, he was Country Head, Emaar Pakistan. He also worked with the Abraaj Group, where he was part of the operational turnaround at K-Electric. He has also been Chief Internal Auditor at GlaxoSmithKline Pakistan. He began his career with KPMG UK.
Currently, he is also on the Boards of K-Electric, Al-Shaheer Corporation, Fauji Kabirwala Power Company, Fauji Wind Energy I & II, FFBL Power Company, Foundation Solar Energy and FFC Energy Limited.
|Name||Maj Gen Ahmad Mahmood Hayat (Retd)|
|Qualification||Master’s Degree in War Studies from Quaid-e-Azam University and Fort Leavenworth USA|
|Designation||Director Health, Fauji Foundation|
|Date of Joining||07/09/2020|
|Committee||Member HR&R Committee|
|Address||Fauji Tower, 68 Tipu Road, Chaklala, Rawalpindi Cantt|
Maj Gen Ahmad Mahmood Hayat, HI (M), (Retd) joined MPCL Board on September 07, 2020. He is a non-executive Director and member of HR&R Committee.
Presently, he is working as Director Health, Fauji Foundation.
He was commissioned in the Army on 06 Sep 1984. He is a graduate of Command and Staff College Quetta, Command and General Staff Course USA, and National Defence University Islamabad, Pakistan. He holds Master’s Degree in War Studies from Quaid-e-Azam University Islamabad and Fort Leavenworth USA.
He has commanded an Armour Regiment, Independent Armoured Brigade Group, Infantry Brigade and Infantry Division. He also held various staff appointments including Adjutant/Instructor Pakistan Military Academy, Brigade Major of an infantry Brigade, General Staff Officer-2 and 1 at CGS Secretariat, General Staff Officer-1 at Military Operations Directorate, Chief of Staff at Corps Headquarter, Director General in Inter Service Intelligence Islamabad and Director General Defence Export Promotion Organization. In recognition of his outstanding services, he was awarded Hilal-i-Imtiaz (Military).
Currently, he is also on the Boards of Fauji Fertilizer Company Limited and Fauji Fertilizer Company Energy Limited.
Directors Representing Govt. of Pakistan
|Name||Mr. Abdul Rasheed Jokhio|
|Qualification||Masters in Energy, Environmental Management & Economics|
|Designation||Director Gas, Ministry of Energy (Petroleum Division)|
|Date of Joining||15/12/2020|
|Committee||Member of Audit and Technical Committee|
|Address||1st Floor, Petroleum House, G-5/2, Islamabad.|
|Profile||Mr. Abdul Rasheed Jokhio joined MPCL Board on December 15, 2020 representing Government of Pakistan. He is a non-executive Director and Member of the Board’s Audit and Technical Committees.
Mr. Abdul Rasheed Jokhio is currently serving as Director Gas in the Directorate General of Gas, Petroleum Division, Ministry of Energy. He holds Master’s degree in Energy, Environmental Management and Economics from ENI Corporate University, Italy, and Bachelor of Engineering in Petroleum & Natural Gas from Mehran University of Engineering and Technology, Jamshoro, Sindh.
He had joined erstwhile Ministry of Petroleum and Natural Resources (now Petroleum Division, Ministry of Energy) in 2006. Since then, he has been involved in the policy and regulatory matters of mid and down-stream sectors of natural gas and RLNG. He oversees matters such as allocation of gas/RLNG to the Government designated buyers and third parties including power and fertilizer sectors, tariff for RLNG and natural gas for retail consumers, review and execution of Gas Sales Agreements and Gas Pricing Agreements, Gas Development Schemes, Gas Development Infrastructure Cess and Gas Development Surcharge.
He has attended a number of courses in Pakistan and abroad on Drilling Economics, Contracts Negotiation, Upstream Regulation, Gas Pipeline & LNG Imports Projects etc.
He is a professional member of Pakistan Engineering Council and also a member of the Society of Petroleum Engineers.
Directors Representing OGDCL
|Name||Mr. Shahid Salim Khan|
|Qualification||MS in Petroleum Engineering|
|Date of Joining||30/01/2020|
|Committee||Member of HR&R & Technical Committee|
|Address||OGDCL Building Blue Area, Islamabad|
Mr. Shahid Salim Khan joined MPCL Board on January 30, 2020 as a nominee director of OGDCL. He is a non-executive director and a member of the Board’s Technical and HR&R Committees.
He holds a master’s degree in petroleum engineering from University of Southern California, USA. He has more than 36 years of diversified experience in various disciplines of E&P sector including petroleum engineering, drilling, production operations, HSE, community relations and community development.
He has worked in different capacities with Kuwait Foreign Petroleum Exploration Company (KUFPEC), Mari Petroleum Company Limited (MPCL), Eni Pakistan Limited (An Italian Company), LASMO Oil Pakistan (London & Scottish Oil Company) & Oil & Gas Development Company Ltd.
Moreover, he has also contributed to various oil & gas industry forums like Pakistan Petroleum Exploration and Production Companies Association as Senior Vice Chairman, Society of Petroleum Engineers (SPE) in various capacities including Chairman Pakistan Chapter (2014-16 and 2020-22) and as Director. He has also been the Chairman of Annual Technical Conference that is jointly organized by SPE and Pakistan Association of Petroleum Geoscientists, annually.
Mr. Shahid Salim Khan assumed the charge of MD/CEO OGDCL on January 27, 2020. He is also serving on the board of Pakistan State Oil Company Limited.