Govt to fill leading positions at SECP, CCP, PPPA, NITL

ISLAMABAD: The incumbent government has decided to appoint the heads of different departments including the National Investment Trust Limited (NITL) and the Public-Private Partnership Authority (PPPA).

Sources informed this scribe that the ministry of finance will issue an advertisement in the coming days regarding this matter.

Currently, Manzoor Ahmed is the MD of NITL and has been working as the MD since September 14, 2017. NITL is the first Asset Management Company of Pakistan.

In addition to this, the government will also appoint the Chief Executive officer (CEO) of Public-Private Partnership Authority (PPPA).

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Furthermore, the finance ministry will also issue advertisements for two commissioners of the Securities of Exchange Commission of Pakistan (SECP) as well as two members of the Competition Commission of Pakistan (CCP).

The positions of MD Pak Libya Holding Company (PLHCL), Pak Kuwait Investment Company (PKIC), Pak Brunei Investment Company (PBIC) and Pak Oman Investment Company (POIC) will also be filled.

Pak Libya Holding Company (Pvt.) Limited is a joint venture between Pakistan and Libya symbolising the strong relationship between the two nations. The main objective for this joint venture has been to promote the economic development of Pakistan in all the sectors including power, chemicals, cement and construction, textiles etc.

Similarly, PKIC was established as a joint venture between the Governments of Pakistan and Kuwait in 1979. The Company initiated operations with a paid-up capital of Rs62.50 million. Over the years, paid-up capital increased to Rs6 billion while currently, the total equity stands at Rs24.13 billion, reflecting upon the company’s impressive performance since inception.

Pak Brunei Investment Company is an investment finance company established as a joint venture between the Government of Pakistan and Brunei Investment Agency (BIA) that commenced operations in August 2007. The Company has active platforms for Project and Lease Finance, Corporate Finance & Advisory Services, SME Finance, Private Equity and Fund Management.

Pak Oman Asset Management Company Ltd. (POAMCL) is a non-banking finance company incorporated on July 28, 2006, as a public unlisted company with the principal objective of acting as an investment manager for mutual funds.

Four positions in the Pakistan Development Fund Limited are also vacant.

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Shahzad Paracha
The writer is a member of Pakistan Today's Islamabad bureau. He can be reached at [email protected]
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