ISLAMABAD: Pakistan State Oil Company Limited (PSO) has confirmed the appointment of Mustafa Ramday as its new chairman following the federal government’s decision to reconstitute the company’s 10-member Board of Management for a three-year term.
In a notice submitted to the Pakistan Stock Exchange (PSX) on Friday, the company said the changes took effect immediately under a Ministry of Energy (Petroleum Division) notification issued on November 5, 2026.
Ramday has been appointed chairman and independent member, replacing Asif Baigmohamed, who ceased to hold his position on November 6.
Three other independent directors, Dr Ayesha Waqar, Mushtaq Malik and Ahmed Jamal Mir, have also left the board following its reconstitution.
The newly appointed independent members are Muneeb-ul-Haq, Aftab Hussain, Imtiaz Hussain Kazi and Saira Shahid Hussain.
The board also includes the secretaries of the Petroleum, Power and Finance divisions, or their representatives of at least BS-20 grade, as ex-officio members.
In addition, Pakistan LNG Limited (PLL) Chief Executive Officer Masood Nabi has been identified as an ex-officio member, while PSO Chief Executive Officer Jawwad Ahmed Cheema serves as an executive member.
According to the disclosure, the names of the government representatives nominated to the board have yet to be communicated by the ministry.
PSO said the status of the existing ex-officio members would be clarified once further details were received from the Petroleum Division.
