The 14-member board used to comprise one managing director, three elected directors who served as representatives of private shareholders, two elected directors representing State Life and NIT and eight directors nominated by the government. Private directors of the company are elected during the general meeting of the shareholders. An official of SNGPL told Pakistan Today that the actual reason behind the board’s decision was to keep the elected directors away. They bulldozed policies on consumption of natural gas which were formulated by the previous government and after the private shareholders objected to this, they were being marginalised. Sources said that private shareholders should be given representation based on the proportion of their share in the company.

Source: Pakistan Today May 06, 2020 16:26 UTC