The federal government has reconstituted the Board of Management of Pakistan State Oil Company Limited (PSO), appointing Mustafa Ramday as its chairman and independent director for a three-year term with immediate effect.
What happened?
The reconstitution was notified on November 5, 2026, and announced on Friday, November 6, 2026. Ramday replaces Asif Baigmohamed as chairman of the country’s largest oil marketing company.
Key details
- Chairman: Mustafa Ramday, appointed chairman and independent director for a three-year term.
- Experience: More than 28 years in constitutional, commercial and energy-sector law. He is an Advocate of the Supreme Court of Pakistan and a former Advocate General of Punjab.
- Background: He has advised on the legal framework for the China-Pakistan Economic Corridor, power generation and clean energy projects, and has represented oil, gas and power-sector companies in international arbitration. Chambers & Partners has ranked him in its top tier for dispute resolution and litigation in Pakistan.
- Honorary role: On assuming office, Ramday confirmed he will serve PSO in an honorary capacity, foregoing directors’ fees and all work-related expenses, including travel, boarding and lodging.
- Other independent directors: Muneeb-ul-Haq, Aftab Hussain, Imtiaz Hussain Kazi and Saira Shahid Hussain.
- Ex-officio directors: The secretaries of the Petroleum, Power and Finance divisions, and the chief executive officer of Pakistan LNG Limited.
What it means for people in Pakistan
PSO is Pakistan’s largest oil marketing company, operating 3,649 retail outlets, nine major installations, 19 depots and aviation refuelling facilities at 15 airports. A reconstituted board with a new chairman sets the direction for the company that supplies most of the country’s petrol, diesel and other fuels. Ramday’s decision to serve without fees or expenses is a notable commitment at the head of a major state-linked company, and the board’s decisions in the coming months will shape how PSO manages fuel supply and its retail network across the country.
Source: Bloom Pakistan
