Pakistan State Oil appoints new managing director

State-owned Pakistan State Oil (PSO) announced that Naeem Yahya Mir has assumed the post of managing director, replacing Acting MD Jehangir Shah. Mir’s appointment was announced by Pakistan’s Prime Minister Yousaf Raza Gilani in late December, which he said is part of the restructuring of PSO. Mir comes to PSO with more than 21 years of experience in marketing, distribution, refining and shipping. He has worked in several national and multinational companies. His most recent assignment has been with Kuwait Petroleum Corp., where he was technical advisor for international marketing. Mir faces tough challenges because the oil giant is burdened by financial constraints brought about by the failure of several power companies to pay their debts to PSO. Under the current restructuring program, the government has changed the heads of other state-owned companies including Sui Southern Gas Company, Sui Northern Gas Pipelines Limited, Pakistan Petroleum Limited, Pak Arab Refinery Company and Government Holdings Private Limited. (January 24, 2012)