Lack of consensus on appointing NITL MD

National Investment Trust Limited (NITL) is facing controversy after a government-formed committee picked the candidate who ranked second on the company’s merit list for the post of managing director.

“Govt-formed committee picks candidate second in merit list National Investment Trust Limited (NITL) is facing a controversy as a committee formed by the government has picked a candidate appearing second in the merit list for the post of managing director”

The Express Tribune

Sources told The Express Tribune that NITL’s human resources committee had decided to recommend three names to the board.

The Express Tribune

The committee placed Manzoor Ahmed first with 88 points, noting his 36 years of experience and three stints as acting MD.

The committee called him "an exceptional candidate" and very strongly recommended him for the position.

The HR committee’s other two shortlisted candidates were Muhammad Asad, who scored 66 points and had 24 years of experience, and Salman Haider Sheikh, who scored 60 points and had 12 years of experience.

The HR committee said Asad lacked leadership qualities, had weak communication skills, and his experience was restricted to Shariah-compliant investment with no experience of conventional funds, making him not suitable for the MD role.

The Express Tribune

It said Sheikh, who had served in an advisory role at IQ Solutions for the last three years, was not on a par with the current dynamics of the mutual fund industry and therefore not suitable.

After receiving the HR committee's recommendations, the finance minister formed a committee.

“Govt-formed committee picks candidate second in merit list National Investment Trust Limited (NITL) is facing a controversy as a committee formed by the government has picked a candidate appearing second in the merit list for the post of managing director”

The Express Tribune

The committee was chaired by the finance minister and comprised two other ministers, Ahad Cheema and Bilal Azhar Kayani.

Sources told The Express Tribune that controversy erupted when the ministerial committee dropped the top-ranked candidate and instead picked the second-ranked candidate.

The Express Tribune sent questions to Ahad Cheema and Bilal Azhar Kayani, who did not respond, and the article does not state why the finance minister's committee chose the second-ranked candidate over the top-ranked candidate.