ISLAMABAD: The Board of Directors (BoD) of Government Holding (Private) Limited (GHPL), the fifth largest oil and gas exploration and production (E&P) company in Pakistan, has established unique criteria for the appointment of a Managing Director. The criteria deviate from conventional norms by reducing the required experience and age by half compared to previous standards and industry counterparts.
The company recently issued an advertisement for the position. Curiously, the chairperson of the BoD of GHPL and the current Managing Director, who formulated and approved the criteria for the appointment, have stated that they were not involved in the process. When questioned about the origin of these criteria, they declined to comment.
Sources close to GHPL suggest that the proposed appointment of a “blue-eyed person” indicates the company’s preference for an individual lacking sufficient knowledge and understanding of the complexities within the oil and gas sector. Interestingly, GHPL has said that women are encouraged to apply.
In a surprising twist, GHPL’s selection process has stirred controversy due to the implementation of stringent age requirements. Previously, applicants had to be at least 50 years old, but the company has now introduced a maximum age limit of 50 years. This change raises concerns about the exclusion of highly experienced candidates from the petroleum sector and suggests that GHPL may undervalue the extensive expertise and knowledge that seasoned candidates can offer.
Speaking anonymously, a high-ranking official from the Petroleum Division revealed that the board intends to appoint a chartered accountant with political and bureaucratic backing as the Managing Director instead of an expert in oil and gas exploration and development with significant experience.
When “The News” contacted the incumbent Managing Director/CEO of GHPL, Masood Nabi, who also serves as a director on the company’s board and is retiring on Sunday, he stated, “I was not part of this process.” It is puzzling that this decision does not appear to be on his radar, despite his position on the board.
After “The News” approached Chairperson BoD of GHPL Ayla Majid, she refused to answer the question, stating, “Please consult the relevant department as I am not responsible for this matter.” On pointing out that according to SECP companies’ rules, the Board approves decisions with the consent of the Managing Director, Majid abruptly ended the call.
It is to be noted that the company has outsourced the shortlisting of the candidates to a private company, despite being a government-owned entity. “The News” also contacted Yawar Hussain, a senior official at ABACUS consultants, who said, “Yes, we have been given this contract of shortlisting and will do it according to the criteria provided to us by GHPL.” It is important to note that GHPL operates as a non-operating partner alongside local and foreign oil and gas exploration and production companies, including United Energy Pakistan Limited (UEPL), Orient Petroleum Private Limited (OPPL), Eni, OMV, MOL, OGDCL, PPL, POL, and PEL. GHPL oversees and manages working interests in both onshore and offshore blocks. Additionally, it owns subsidiaries such as Inter State Gas Systems (Private) Limited, Pakistan LNG Limited, and Pakistan LNG Terminals Limited.
It is worth mentioning that previous job advertisements in 2017 and 2019 required a minimum of 20 years of post-qualification experience, including at least 10 years in a senior management role. Candidates were expected to demonstrate an understanding of the dynamics of the oil, gas, and petroleum industry, with a minimum age of 50 years.
However, the recent advertisement seeks a minimum of 20 years of relevant post-qualification experience, including the last five years (previously 10 years) in a senior management role. Experience in management within the oil and gas exploration, petroleum production, and mineral sector is considered advantageous.
Interestingly, Pakistan Petroleum Limited (PPL) and Oil and Gas Development Company (OGDCL) have advertised for a Managing Director with a maximum age of 62 years, requiring 25 years of post-qualification experience, including at least 15 years in the oil and gas exploration, production, or petrochemical industry.
