ISLAMABAD: The inaugural meeting of the newly appointed Board of Genco Holding Company Limited (GHCL) is expected to be turbulent, as the current Managing Director/CEO is reportedly lobbying to retain his position permanently.
Sources told Newzshewz that the former board member, who has been serving as acting MD/CEO for several years, is actively seeking support to continue in the role — a move insiders claim would be against established rules and procedures.
“There are strong indications that a verbal understanding has been reached with suspended CEOs of various Gencos,” the source added. “If he secures his position, he plans to use the new board to reinstate those CEOs — all of whom were suspended following orders from Prime Minister Shehbaz Sharif.”
Observers believe the push to reinstate suspended executives may be an attempt to shield past board and management decisions from scrutiny, thereby preserving the status quo.
Unconfirmed reports further suggest that coal procurement for the Jamshoro and Guddu power plants is another area of interest — allegedly driven by individuals seeking personal benefit.
Meanwhile, officials at the Power Division have reportedly expressed concern over the maneuvering by the suspended Genco CEOs, whose removal was directly linked to the Prime Minister’s directives.
