PSM suspends Imtiaz Lodhi, Wasif Mehmood to Serve as Acting CEO

KARACHI: Pakistan Steel Mills (PSM) suspended the services of Imtiaz A. K. Lodhi as acting Chief Executive Officer (CEO) and Chief Finance Officer (CFO).

The decision was taken in an emergency meeting of the Board of Directors (BOD) of Pakistan Steel Mills Corporation held here in Karachi on Friday.

According to details, BOD has decided to place Mr. Wasif Mehmood, the Principal Executive Officer as the acting CEO for an interim arrangement in addition to his present assignment.

The Board of Directors has requested from Ministry of Industries and Production to immediately nominate a permanent CEO for PSM so that BOD may confirm his appointment in its next meeting scheduled on 4th February, 2001. The matter of placing the name of Imtiaz Lodhi in ECL was also discussed in the meeting.

It may be noted that Pakistan Steel Mills from over the last six months has been lacking the permanent CEO whereas Ministry of Industries and Production has already moved the summary to Ministry of Finance in this regard, which is pending on their account. – Onlinenews