- Mansoor resigned from his position as CEO of The Hub Power Company in July
- Bajwa says course is set for future progression of CPEC
Khalid Mansoor, former chief executive officer (CEO) of The Hub Power Company (Hubco), has replaced Lt General Asim Saleem Bajwa (retd) as the central figure to lead affairs of the China-Pakistan Economic Corridor (CPEC), it was announced on Tuesday.
Pakistan Tehreek-e-Insaf (PTI), the ruling party, shared the notification on its Twitter page. The appointment shall be in honorary capacity, reads the notification from the Prime Minister's Office.
Bajwa also announced his departure in a tweet, saying Mansoor was "fully equipped" to lead as Chairman CPEC Authority.
"The course is set for future progression of CPEC, this journey will go on," said Bajwa. "CPEC is a lifeline for Pakistan, it will transform us into a progressive and fully developed country InshaAllah."
The government had notified in November 2019 the appointment of Bajwa as the first CPEC Authority chairman. The authority was established through a presidential ordinance for coordination, monitoring, and evaluation to ensure smooth functioning of CPEC-related activities. The former director general of the Inter-Services Public Relations (ISPR) Pakistan was appointed for a period of four years.
Meanwhile, Mansoor had earlier stepped down as CEO of Hubco, and was replaced by Kamran Kamal, the then-CEO of Laraib Energy Limited, a Hubco subsidiary, in July.
Asad Umar, federal minister for planning, development and special initiatives, also took to Twitter to welcome the new CPEC Authority chief.
While thanking the outgoing chief, Umar said Bajwa played a vital role in broadening its scope with a transition to the second phase of CPEC.
"His dedication and commitment was a source of great strength and support," added Umar.
Umar also welcomed Mansoor, saying his corporate experience, and extensive work with Chinese companies as well as his direct involvement in "leading some of the biggest CPEC projects makes him an ideal person to lead the next phase".
Khalid Mansoor's profile
Mansoor holds a degree in chemical engineering, according to his profile posted on a Engro group of companies' website.
He has also served as the CEO of Algeria Oman Fertilizer Company (AOA). Prior to this, he held the position of President and CEO of Engro Fertilizers Limited, Engro Powergen Qadirpur Limited (EPQL), Engro Powergen Limited (EPL) and Sindh Engro Coal Mining Company (SECMC).
Mansoor resigned as CEO of Hubco with effect from July 1, 2021, according to a notice sent to the Pakistan Stock Exchange (PSX) dated July 8.
"This is to inform you that Mr. Khalid Mansoor has resigned from his position as Chief Executive of The Hub Power Company Limited effective July 1, 2021," states the notice.
Mansoor has also served as Chairman Overseas Investors Chamber of Commerce & Industry (OICCI) and the Independent Power Producers Advisory Council (IPPAC).
"We thank Khalid for his invaluable contributions over the years to the success of Hubco and wish him and his family health and happiness in all their future endeavors," Chairman Hubco M Habibullah Khan had said when Mansoor resigned as CEO.
Mansoor's current board memberships, according to data available on Bloomberg, include:
- Unilever Pakistan Foods Ltd as board member
- Engro Powergen Qadirpur Ltd as board member
- Sindh Engro Coal Mining Co Ltd as board member
- Engro Powergen Ltd as board member
- Laraib Energy Limited as chairman of the board