Prime Minister Imran Khan has agreed on the re-establishment of Board of Directors (BoD) of Pak Arab Refinery Limited (Parco), a public sector limited company registered under the Companies Act, 2017. This company is a joint venture between the Government of Pakistan (GoP) and Abu Dhabi Petroleum Investment Company (ADPIC) with a share of 60:40 respectively. In pursuance of the incumbent government’s policy for the selection and authorization of non-political and independent boards, as well as selection of outstanding professional CEOs on merit, the restructuring of the Board of PARCO is being carried out. The summary was submitted to the Prime Minister on January 27, 2020 who has finally approved the structure of BoDs as: (i) Secretary Petroleum- Director/ Chairman); (ii) Additional Secretary (Policy), Petroleum Division- Director; (iii) Aftab Hussain- Director (Sindh); (iv) Abdul Hadi Shah-Director(KP); (v) Ms Bushra Naz Malik- Director(Punjab/ Women rep) and; (vi) Managing Director, PARCO- Director.
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