NTDC board terminates employment agreement of Manzoor Ahmad as DMD

Board of Directors resolved to terminate Manzoor Ahmad's services without cause

In a move that has raised eyebrows and stirred controversy, the Board of Directors (BoD) of the National Transmission & Despatch Company Limited (NTDC) has unanimously approved the termination of the employment agreement of Manzoor Ahmad as Deputy Managing Director (DMD).

According to an official notification issued by the NTDC Company Secretary on May 31, 2023, the BoD’s 247th meeting addressed agenda item No. 06 and resolved to terminate Manzoor Ahmad’s services as DMD without cause, citing clause 12.1.1 of the employment agreement dated April 30, 2022. Furthermore, the board approved the payment of salary in lieu of the notice period.

Sources reveal that the NTDC board has granted Manzoor Ahmad three months’ salary as compensation for the notice period, amounting to Rs 5,400,000 or Rs 5.4 million. This extended notice period is deemed unusual compared to the standard practice of one to two months in national and international companies.

It is worth noting that the NTDC board’s decision to terminate Ahmad’s employment comes in the wake of its impending dissolution, expected to occur by September 2023.

The NTDC board’s action follows pressure from the Senate Standing Committee on Power, which expressed concerns over the appointments of both Zain Banatwala and Manzoor Ahmad as Deputy Managing Directors, labelling their appointments as “dubious.” The committee urged the Power Division to remove both individuals promptly. Senator Saifullah Abro, chairing the committee, expressed dissatisfaction with the Power Division for failing to address the issue of Manzoor Ahmad’s substantial remuneration of Rs 1.8 million per month.

While an inquiry against Zain Banatwala has already been completed and forwarded to the NTDC Board for further action, sources indicate that an investigation into the conduct of Manzoor Ahmad is currently underway. However, the NTDC’s current state of affairs has drawn criticism, with calls for a thorough forensic investigation into the organisation’s alleged white-collar crimes.

The NTDC Board’s actions have raised concerns over its adherence to rules and regulations, particularly in HR matters. The board has been accused of manipulating appointments to senior management positions, including the DMDs, and Company Secretary roles. The recent appointment of Manzoor Ahmad, along with the controversial appointment of Ali Zain Banatwala as an illegally appointed member of the board, adds to the growing list of alleged irregularities.

It is pertinent to mention here that the termination of Manzoor Ahmad’s employment as Deputy Managing Director (DMD) by the NTDC board has raised concerns about the favour granted to him by both the NTDC board and the Power Division. Despite the termination being carried out without cause, the board has approved the payment of an extended notice period, providing Manzoor Ahmad with three months’ salary as compensation, totaling Rs 5,400,000 or Rs 5.4 million. This generous compensation package deviates from the standard practice of one to two months’ notice period in both national and international companies.

Attempts to seek comments from Manzoor Ahmad and the Secretary of the Power Division have so far been unsuccessful.

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Ahmad Ahmadani
Ahmad Ahmadani
The author is a an investigative journalist at Profit. He can be reached at [email protected].


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