Karachi: In a recent development at Mughal Energy Limited, a significant change in the company’s leadership has been announced. On January 7, 2025, Mr. Saeed Hussain will assume the role of Head of Internal Audit, following the resignation of Mr. Qalb-e-Abbas. This transition is in compliance with Regulation No. 5.6.1 (a)(xii) of the Rule Book of Pakistan Stock Exchange Limited.

The company has informed the TRE Certificate Holders of the Exchange about this change, ensuring transparency and adherence to the regulatory requirements of the Pakistan Stock Exchange (PSX). According to information available from the Pakistan Stock Exchange (PSX), such changes are essential for maintaining the integrity and efficiency of corporate governance within listed companies.

The appointment of Mr. Saeed Hussain is expected to bring new insights and strategies to the internal audit operations of Mughal Energy Limited, which operates within the energy sector of the designated market category. This strategic move aims to enhance the company’s internal controls and audit processes, aligning with its commitment to uphold high standards of corporate responsibility and accountability.

The resignation of Mr. Qalb-e-Abbas marks the end of his tenure, during which he contributed significantly to the company’s audit functions. As Mughal Energy Limited moves forward, stakeholders are keenly anticipating the positive impact of Mr. Saeed Hussain’s leadership in fortifying the company’s audit frameworks and practices.