Karachi: The Federal Government of Pakistan has announced the reconstitution of the Board of Management for Pakistan State Oil Company Limited, effective immediately. The restructuring, as outlined in a notification from the Ministry of Energy (Petroleum Division) dated November 5, 2026, will set the new board in place for a term of three years.

The revised board comprises ten members, with Mr. Mustafa Ramday appointed as Chairman and Independent Member. Other Independent Members include Mr. Muneeb-ul-Haq, Mr. Aftab Hussain, Mr. Imtiaz Hussain Kazi, and Ms. Saira Shahid Hussain. The board also includes Ex-Officio Members from key government divisions, namely the Petroleum, Power, and Finance Divisions, with senior representatives not below BS-20 to be named by the Ministry. Additionally, Mr. Masood Nabi, the Chief Executive Officer of Pakistan LNG Limited, joins as an Ex-Officio Member, and Mr. Jawwad Ahmed Cheema, the Chief Executive Officer of PSO, serves as an Executive Member.

According to information available from the Pakistan Stock Exchange (PSX), the changes mark a significant shift in the governance of one of the country's leading energy companies. The restructuring also sees the departure of former board members, including Mr. Asif Baigmohamed (Chairman / Independent Member), Dr. Ayesha Waqar, Mr. Mushtaq Malik, and Mr. Ahmed Jamal Mir, who ceased to be members as of November 6, 2026. The status of existing Ex-Officio Members will be clarified upon further communication from the Ministry.

The designated market category remains focused on energy, reflecting the critical role PSO plays in the nation's energy infrastructure. The reconstitution aims to enhance strategic oversight and governance in alignment with federal energy objectives.