By Manzoor Shaikh
Chief Executive Officer (CEO) of Sindh Engro Coal Mining Company (SECMC) Shamsuddin A. Shaikh has resigned from his post, company sources confirmed.
The company has appointed Syed Abul Fazal Rizvi as the new CEO. He was already working as the Chief Operating Officer in the company.
Interestingly enough, the major partner of the company—the Sindh government—did not know about the resignation of the CEO.
Sindh Energy Minister Imitiaz Shaikh told Engineering Review that the board of the company is independent in taking decisions about the company. He said he did not know why Shamsuddin A. Shaikh quit the company.
When did he tender resignation and why are still to come out but the board of the governors of the company has confirmed the resignation of Mr. Shaikh who has been serving it for over 28 years.
Company sources claimed there were issues between the company and Mr. Shaikh that could not be resolved. What was the nature of the issues are yet to be unveiled.
SECMC is a joint venture of Sindh government and Engro Power Gen with a shareholding ratio of 54:46. The company is involved in open pit mining of coal in Thar Coal Block – II and building a powerhouse.
Mr. Shaikh’s tenure in service was due to finish in 2019—the year in which his beloved Thar coal-fired power project is scheduled for commissioning.
Thar coal power project is due to generate power at the end of December 2018 or at the beginning of January 2019.
The timing of Mr. Shaikh’s resignation is meaningful and raise many questions about his resignation just a month before his project coming to reality.