Khalid Mansoor, Chief Executive Officer of Hub Power Company Limited (Hubco) has taken over as the President of the Overseas Investors Chamber of Commerce and Industry (OICCI) for the 2017 term. This was announced at the 157th Annual General Meeting of the OICCI held at the chamber on Tuesday. Nauman Ansari, President and Chief Executive Officer Faysal Bank Limited, was elected unopposed as the Vice President.
The other elected members of the OICCI Managing Committee for 2017 are Ms. Shazia Syed, CEO Unilever Pakistan; Syed Anis Ahmed, CEO Abbott Laboratories Pakistan; Nadeem Lodhi, CEO CitiBank N.A.; Ghiasuddin Khan, CEO Engro Corporation; Kimihide Ando, CEO Mitsubishi Corporation; Bruno Olierhoek, CEO Nestle Pakistan; Jawwad Ahmed Cheema, CEO Shell Pakistan and Shahzad G. Dada, CEO Standard Chartered Bank.
The incoming OICCI President, Khalid Mansoor, in his message to the members said that OICCI's active promotion of Pakistan as a land of opportunity with considerable growth potential especially for foreign investors, participation in streamlining taxation system, policy input on resolving energy supply gap, improving security environment especially in Karachi and improving Intellectual Property Rights in Pakistan, are some of the practical initiatives appreciated by the government, media and other key stakeholders. He informed that the OICCI members collectively invest in excess of $1billion annually to meet the growth opportunities in their business.
Khalid Mansoor is quite hopeful that FDI in the country will show growth in tandem with the investment in the CPEC projects. He emphasised on the need to proactively manage issues relating to Ease of Doing Business as well as negative perception of the country, which is largely not in line with positive reality on the ground. Khalid Mansoor is confident that with better governance, improved policy implementation and robust accountability, Pakistan will soon see a healthy growth in FDI level.
Khalid Mansoor is a graduate in Chemical Engineering with distinction and honours. He has been the Chief Executive Officer of Hubco since May 20, 2013. Hubco is first and the largest Independent Power Producer (IPP) in Pakistan. The company generates approximately 10 percent of the country's electricity and has been playing an important role in addressing the energy crisis being faced by Pakistan.
Khalid Mansoor is also the Chairman of Laraib Energy Limited and Hub Power Services Limited, Chairman and CEO of Narowal Energy Limited, CEO of Hub Power Holdings Limited and Thar Energy Limited - the HUBCO's subsidiaries. He also represents Hubco on the Board of Sindh Engro Coal Mining Company.
The OICCI is the collective voice of all major foreign investors in Pakistan. Established over 150 years ago in 1860, primarily as a business chamber for foreign investors, the OICCI is today, not only engaged in the promotion and protection of existing foreign investment in the country and to attract new foreign investors, its diversified activities contribute significantly to supporting commerce and industry across the country. The 195 OICCI members, from 35 different countries, have presence in 14 sectors of the economy and contribute over 33% of the total tax revenues annually collected by the federal and provincial revenue authorities in Pakistan. Fifty-seven OICCI member companies are listed on the Pakistan Stock Exchange and nearly 50 members are associates of the 2016 Global Fortune 500 Companies.-PR
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