Karachi: Wafi Energy Pakistan Limited has made a significant announcement regarding changes in its board of directors. Mr. Zarrar Mahmud has submitted his resignation as a Director of the company, effective May 15, 2025. Despite stepping down from the directorial role, Mr. Mahmud will maintain his position as the Chief Financial Officer of the company.

In response to this development, the Board of Wafi Energy Pakistan Limited has appointed Mr. Christoph Bausch as a Director. The appointment was made through a Circular Resolution and will be effective from May 18, 2025. This decision comes as a measure to fill the resulting vacancy on the board.

According to information available from the Pakistan Stock Exchange (PSX), the company has communicated these changes to the TRE Certificate Holders of the Exchange. Wafi Energy Pakistan Limited operates within the designated market category of energy and utilities. The company has not provided further details on the implications of these changes for its strategic direction or operational plans.