Business Recorder
NICL CEO unlikely to get extension

NICL CEO unlikely to get extension

ISLAMABAD: Commerce Ministry is unlikely to support an extension to the Chief Executive Officer (CEO) National Insurance Company Limited (NICL) Capt. Jamil Ali Akhtar, after the Prime Minister assessed his performance below the Key Performance Indicators (KPIs), well informed sources told Business Recorder.

On May 12, 2017, Commerce Ministry’s Additional Secretary, Mian Asad Haya-ud-Din sent an Explanation Letter to the CEO NICL, directing him to explain his position on each point raised in the letter within seven days of the receipt of the letter failing which further proceedings would be initiated.

According to the letter, a copy of which is available with this newspaper, Captain Jamil Akhtar was appointed as CEO NICL on April 14, 2016 and assigned KPIs to measure his performance; however, his performance appears to be falling short of meeting these KPIs. Besides, several allegations have also surfaced about his performance.

Commerce Ministry, in its letter sought explanation on the following points: “(i) You were convicted by SECP in your erstwhile position as CEO M/s Takaful Pakistan, however, such information was never conveyed to the Ministry of Commerce; (ii) you conducted appointments against thirteen key posts in NICL without obtaining prior approval from the Commerce Ministry. Furthermore, the appointments made by you were in violation of the regional quota protected under the Constitution of Pakistan; (iii) you have also appointed a Company Secretary without obtaining formal approval of Commerce Ministry; (iv) no expansion of improvements have been observed in the company’s business which is on the decline since you were appointed CEO, NICL; (v) you have failed to inform the Ministry regarding investigation, if any pertaining to irregular appointments in the past or any recovery thereof; (vi) there has been a surge in number of litigations against NICL reported to the Ministry after your joining office; (vii) you have failed to take any concrete steps including undertaking investigations and fixing of responsibility regarding purchase of overvalued properties at Dubai and Karachi. These properties have reportedly been lying vacant for many years; (viii) you have failed to recover outstanding amount from case pending in FIA and NAB regarding NICL land scam case; (ix) you have failed to come up with updated manuals pertaining to HR, operations etc, as indicated in your KPIs; and (x) you did not set up or introduce efficient management system in order to improve corporate governance within NICL.”

Chairman Public Accounts (PAC) has already sought a reply from the Commerce Ministry on similar allegations against the CEO NICL.

However, Capt. Jamil Akhtar Khan, maintains that a group of employees which he deprived of “illegal benefits” is trying to malign him.

This group has submitted similar applications against him in SECP and FIA.

In all the decisions taken by the Board including appointments, Commerce Ministry was duly represented by the Additional Secretary, Dr. Amir, who is now Additional Secretary in the Ministry of Water and Power.—MUSHTAQ GHUMMAN

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