ISLAMABAD: Pakistan LNG Limited (PLL) has replaced its top manager with immediate effect, appointing Shahid Yousaf as managing director and chief executive, the state-owned operator said on Saturday without giving a reason for the change.
Former chief executive Adnan Gilani, a US-educated former Wall Street executive who had been the main public face of Pakistan’s push into the liquefied natural gas sector, “will no longer be associated with PLL and we wish him the best,” it said in an emailed statement.
“Yousaf brings a vast and rich experience of LNG/gas sector to lead and grow the operations of the company,” it said.
The group gave no explanation for the abrupt change in leadership but denied reports in the Pakistani press that the move was connected with an anti-corruption investigation.
“Gilani’s resignation is due to reasons unrelated to any NAB investigation,” it said in a separate statement, referring to the National Accountability Bureau, an anti-corruption body. It said Gilani was a “world class professional” and said the company had achieved “remarkable results” under his leadership.
Pakistan has stepped up its purchases of LNG sharply in recent years as it has grappled with a chronic energy and fuel crisis that has led to repeated power outages and weighed on its struggling economy.