Ministers’ Panel Picks favourite Candidate To Head NITL
A committee led by the finance minister has dropped the top candidate shortlisted by the HR committee of board of directors National Investment Trust Limited (NITL) and picks low-reanking and low ranking candidates to head the company.
Sources said that the HR&RC Chairman of board of NITL that the Committee decided to recommend three candidates to the Board of Directors of National Investment Trust Limited for their consideration.
The top candidate in the merit list Mr Manzoor Ahmed had secured 88 points and the NITL HR committee had recommended to appoint him as the managing director of the company.
It was informed that Mr Manzoor Ahmed had 36 years experience and had in-depth knowledge of Mutual Fund Industry and NITL. He had also served NITL thrice as Acting MD. The committee said that he was an exceptional Candidate and had very strongly recommended for the position of MD, NITL.NITL to Launch Two New Funds
The second candidate was Mr. Muhammad Asad who had 24 Years experience. The committee had given him 66 points during the process.
The committee further pointed out that he lacked leadership qualities / weak Communication skills. Experience restricted to Islamic sharia compliant investment side. The committee futther said that he had no experience of conventional fund and therefore was not suitable for the position of MD, NITL.
The third candidate shortlisted was Mr. Salman Haider Sheikh. He had 12 Years of experience and secured 60 points.
He had performed an advisory role for the last 3 years in IQ Solutions. The committee further said that he was not at par with current dynamics of the Mutual Fund Industry and therefore was not suitable for the position of MD, NITL.
After receiving these recommendations, the finance minister had formed a committee comprising two other ministers Ahed Cheema and Bilal Azhar Kayani. Thefinance minister was chairing the committee.
Sources told that controversy erupted when the committee had dropped the first candidate Mr Manzoor Ahmed who had secured the higher points during the process by board HR committee.
It had picked the second candidate who was declared unfit and was not a suitable candidate by the Board HR committee for the appointment of managing director NITL.
The National Investment Trust Limited (NITL) was established in 1962 and is Pakistan’s First Asset Management Company.
It is renowned for its expertise in managing mutual funds and delivering innovative investment solutions.
As of September 30, 2025, NITL has managed assets of around Rs. 222 billion. It also serves over 54,756 unit holders across the country.