The summary for the appointment of Managing Director Pakistan China Investment Company Limited is awaiting approval of the federal cabinet.
Sources said that the Finance Ministry had proposed the name of senior commercial banker Hasan Raza for the position of MD Pak China Investment Company Limited. However, due to the special importance of Pak-China relations, it was decided that this appointment be formally approved by the federal cabinet.
The Cabinet Division circulated the summary of Hasan Raza’s appointment as MD Pak China to Cabinet members, but reportedly, it is still in the process. According to a source, a few cabinet members want their own favourites to be appointed, even though the Finance Division had proposed name of Raza, who has a diversified banking experience both locally and internationally, for this position after conducting interviews of several candidates.
On the other hand, the government has approved the appointments of Saad Ur Rehman as MD Pak Kuwait, Tariq Mehmood as MD Pak Libya, Aamir Shamim as MD Pak Brunei, and Nauman Ansari as MD Pak Oman.
It is pertinent to note that the Government of Pakistan has established Joint Investment companies in collaboration with friendly countries on an equal shareholding basis.
According to the Finance Division, these Joint Investment companies play an important role in the economic uplift of the country through infrastructure investment, asset management, project financing, and investment banking.