PSO chief appointed at top policy level in world apex body
Unique Distinction for PSO
KARACHI: Mr. Jalees Ahmed Siddiqi, MD & CEO of Pakistan State Oil (PSO), has received the distinction of being the first CEO from the Muslim world having been appointed as member of Business Role Focus Area Core Team (FACT) of the World Business Council for Sustainable Development (WBCSD), Geneva, Switzerland. This policy level position at the Council provides vision and guidance to the Council regarding the role of business in society.
Other members include Mr. Travis Engen, President & CEO, Alcan, Canada; Mr. Sam di Piazza, CEO, Price Waterhouse Coopers, USA; Mr. Chad Holliday, Chairman & CEO, DuPont, USA; and Mr. Michael Diekmann, CEO, Allianz, Germany. In his letter to Mr. Siddiqi, WBCSD President Bjorn Stigson wrote “We very much look forward to having the benefit of your experience and thinking as a member of the Business Role FACT.”
WBCSD is widely regarded as a prestigious international business organization with membership limited to reputable business entities by invitation. Its members represent together an impressive level of economic activity, i.e. total turnover is 5,200 BUSD and market capitalization is somewhat higher at 5,400 BUSD. This includes 40 members that are not listed in the Dow Jones World index and which are estimated to be in total 500 BUSD. These figures can be compared with the GDP of some countries, e.g., GDP of US is 11,700 BUSD and that of Japan, Germany and Latin America is 4,700 BUSD, 2,700 BUSD and 2,700 BUSD respectively. The members employ 12.1 million people and service approximately 50% of the world’s population with a product or service every day.
Mr. Siddiqi’s top-level appointment at WBCSD is continuation of PSO’s global professional accomplishments. Prior to this, the value of PSO’s professional contributions to the task forces and work streams of World Economic Forum (WEF) received commendation from CEO of WEF and boosted PSO’s corporate reputation through citation among best international practices.
PSO has a growing emphasis on establishing sustainable competitive advantage through adoption of best international practices, developing global collaborations and liaisons, promoting due diligence and studies on issues of corporate significance and enhancing company’s contributions to broader strategic development.