Power Division has assigned look after charge of CEO, CPPA-G to Chief Financial Officer (CFO) Rihan Akhtar, till the joining of acting CEO, who is on medical leave.
The Central Power Purchasing Agency (Guarantee) Limited is a Public Sector Company, working under the administrative control of the Division and registered as the Market Operator in terms of rule 5 of the NEPRA (Market Operator Registration, Standards and Procedure) Rules, 2015.
In pursuance of the decision of the Federal Cabinet of June 02, 2020, Power Division was in process of hiring a new CEO of the Company. The Cabinet also approved the assignment of additional charge of CEO CPPA-G to Waseem Mukhtar, Additional Secretary-II, Power Division till appointment of regular CEO.
According to Power Division, Waseem Mukhtar was sick and has undergone surgery. He had been on medical leave since December 4, 2021. In absence of CEO, the working of the Company was halted. The CPPA-G Board had resolved that Rihan Akhtar, Chief Financial Officer CPPA-G may be tasked to look after the affairs of the Company during the medical leave of Waseem Mukhtar for smooth functioning of the Company.
Power Division argued that the appointments of CEOs of the Public Sector Companies were governed under the Companies Act, 2017, Public Sector Companies (Corporate Governance) Rules, 2013 and Public Sector Companies (Appointment of Chief Executive) Guidelines, 2015. As per rule 5(2) of the Rules ibid, and Government (Federal Cabinet) was the appointing authority of CEOs of Public Sector Companies.
Power Division proposed to the Cabinet that Rihan Akhtar, Chief Financial Officer, CPPA-G may be assigned to look after the affairs of the Company till joining of Waseem Mukhtar after his medical leave or till appointment of regular CEO, whichever was earlier.
On December 14, 2021, during discussion, the implementation status of the decision of the Cabinet in respect to short-listing of a panel of headhunting firms by the Establishment Division, which could be engaged by the Ministries/Divisions to fill top positions, was sought. Special Assistant to the Prime Minister on Establishment apprised that there were certain issues of PPRA, which had now been resolved. The decision of the Cabinet would be implemented soon.
The sources said that Power Division has issued notification to assign charge of CEO to CFO CPPA-G, in the light of Cabinet decision.
