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Oil and Gas Development chairman resigns

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Staff writer | Islamabad, Pakistan | February 28, 2014
Oil and Gas DevelopmentFebruary 28, 2014, Islamabad, Pakistan - Oil and Gas Development Company announced that Ch. M. Shafi Arshad has resigned as chairman and director.
Mr. Arshad has varied experience in the financial sector of both Public and Private Sector Corporate Bodies spread over a period of 39 years. He started his career in Habib Bank Ltd in 1960. He held assignments like Circle Executive, General Manager (U.K/Europe) based in London, Member Executive Board of the bank and later he became President and Chief Executive of Habib Bank Ltd in 1993.

Mr. Arshad was appointed as President and Chief Executive of United Bank Ltd in 1996 by the State Bank of Pakistan (Central Bank) to undertake its structural reforms and improve functioning before its privatization. He was sent on deputation as Chairman and Chief Executive of the The Bank of Punjab Lahore by the State Bank of Pakistan in 1997.

Mr. Arshad is a pioneer Director on the Board of Punjab Municipal Fund Company(P.M.D.F.C), an independent entity and a vibrant civil society organization established in 1998,under the Companies Ordinance 1984, with the Technical and Financial Assistance of the World Bank. He remained on its board from 1998 to 2009. He has now been re-elected in May 2012 for another tenure of three years.

Mr. Arshad is a banker by profession. He graduated from Govt. College Lahore. He is also Fellow of Institute of Bankers in Pakistan.


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