ISLAMABAD: The Engineers of Hyderabad Electric Supply Company (HESCO) one of the worst performing DISCOs are up in arms against the appointment of Chief Financial Officer (CFO) Faizullah Dahri as Chief Executive Officers (CEO) by ignoring engineers.
In a letter to Secretary Power, a group of Engineers / Officers of HESCO have expressed their grave concern and disappointment regarding the recent posting of the Chief Financial Officer as the Chief Executive Officer by the HESCO Board of Directors.
” We fully respect the Board’s prerogative to make leadership decisions but this appointment appears to overlook the wealth of engineering expertise experience, and seniority present within the HESCO,” the said in the letter.
The Engineers claims that a an electric power distribution company, the nature of it operations is fundamentally technical, requiring strong grasp of engineering principles, operational challenges, institutional experience and industry-specific tones. The role of the Chief Executive Officer in such an environment demands a leader, who is not only skilled in financial management but also deeply rooted in the technical and operational aspects of our business.
The engineers in HESCO have spent years contributing to its growth and success, solving complex challenges and ensuring the seamless delivery of power to our customers. Several senior engineers possess the required qualifications, experience, and vision to lead the company effectively as CEO, combining technical and business insight with managerial skills.
” Overlooking this pool of talent in favor of someone whose expertise is primarily financial could potentially isolate a significant segment of the workforce and hinder the company’s ability to address operational challenges effectively,” the Engineers Group added.
The Group has urged Power Division to intervene being the stakeholder as well as the representative of the majority shareholder of HESCO under the SOE Act, for the
reconsideration of this decision where by a person already working as company secretary on contract basis has been appointed as Chief Financial Officer also on contract basis has been given charge of post of Chief Executive Officer of an Electric Power Distribution Company on same date of appointment as Chief Financial Officer on political influences and personal contacts.
” There exists huge conflict of interest in discharging official duties as the CFO as well as CEO of a company which are independent, mandatory, statutory posts as per SOE Act 2023,” the Group said adding that the HESCO BoD decisions are causing not only continuous financial losses to the company but also leading the Company towards total failure.
The current year monetary losses soared to the tune of Rs 17.383 billion over and above last year’s monetary loss for the period Jul-Jan 2025, despite of above loss the BoD HESCO have increased their remuneration unilaterally from Rs 35000/- to Rs 60,000/- per attendance at a time when the company is in the financial crises. The senior management of HESCO has been left isolated in all relevant matter and the HESCO BoD is enjoying full authority at the cost of national exchequer without any accountability/responsibility. Ends
