PSO board reconstituted, Mustafa Ramday appointed chairman

KARACHI (News Desk): The federal government has reconstituted the Board of Management of Pakistan State Oil (PSO) for a fresh three-year term, appointing Mustafa Ramday as its chairman and introducing changes to the state-owned oil company’s board.

According to a notification issued by the Ministry of Energy’s Petroleum Division on November 5, 2026, the reconstituted board took effect from November 6.

Mustafa Ramday has been appointed Chairman and Independent Member of the Board, alongside four other independent members: Muneeb-ul-Haq, Aftab Hussain, Imtiaz Hussain Qazi and Saira Shahid Hussain.

The board will also include the secretaries of the Petroleum Division, Power Division and Finance Division as ex-officio members, with representation not below BS-20.

Additionally, the Chief Executive Officer of Pakistan LNG Limited, Masood Nabi, will serve as an ex-officio member, while PSO Chief Executive Officer Jawwad Ahmed Cheema will join the board as an executive member.

The reconstitution also marks the departure of several existing board members. Asif Baigmohamed, who served as Chairman and Independent Member, along with independent members Dr Ayesha Waqar, Mushtaq Malik and Ahmed Jamal Mir, have ceased to be members with effect from November 6.

The notification stated that the names of the respective government representatives from the Petroleum, Power and Finance divisions would be communicated separately by the relevant ministries.

The changes were formally communicated to the Pakistan Stock Exchange by PSO Company Secretary Ambreen Ali in a letter dated November 6, asking the exchange to inform its certificate holders accordingly.

The board restructuring comes as PSO, Pakistan’s largest oil marketing company, continues to play a central role in the country’s petroleum supply chain.