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Site update: July 22 2019, at 17:00 PKST
Stock update: July 22 2019.

Recent Financial News about OGDC (Oil & Gas Development Corp. Limited)

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Tuesday, July 02 2019

OGDCL MD resigns
ISLAMABAD - Managing Director of Oil and Gas Development Corporation Limited (OGDCL), Zahid Mir has resigned from his post. OGDCL Board of Directors has accepted resignation of Zahid Mir as an acting managing director /chief executive officer and chief operating officer, said spokesman of the company here. Board of Directors appreciated the contribution made by Zahid Mir in implementing a long term sustainability framework for the company besides achieving strict financial controls and discipline. Directors expressed their best wishes for future endeavors of Mir, said the spokesman. Some sources attributed the MD resignation to the ongoing National Accountability Bureau (NAB) probe against the chief OGDCL. The government had already placed his name on the Exit Control List (ECL). Zahid Mir was appointed as a COO by the previous PML government and also handed over him the acting charge of MD/CEO of the company to him. Zahid Mir worked as an acting MD for more than four years. “His resignation is due to his future personal engagements and has no connection with any probe,” the official added.
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