PECO MD removed over alleged differences with board members

ISLAMABAD: The Ministry of Industries and Production (MOIP) has removed Mairaj Anees Ariff from the top slot of Pakistan Engineering Company Limited (PECO), it was learnt on Tuesday.

Sources in the ministry informed Pakistan Today that the PECO managing director has been removed from the top position of the state-owned subsidiary apparently because of his differences with the private board directors. They said that the ministry has already informed the Pakistan Stock Exchange and the Establishment Division about the removal of Mairaj Anees Arif.

The government would soon initiate the process of appointing a new managing director, sources said, adding that the new MD would be appointed after detailed consultations with the private board directors.

Despite repeated attempts by this scribe, Mairaj Anees Arif remained unavailable to comment.