Board of Directors

Mr. Aqeel Ahmed Nasir has been a Director since March 2015. Mr. Nasir is the Company Secretary & Chief Legal Counsel of United Bank Limited (UBL). Mr. Nasir has to his credit more than 20 years experience in the legal and financial sector of both the public and private sector.

Mr. Nasir is a Master of Laws (LL.M.) from the University of London, England. He is the Chairman of Central Depository Company of Pakistan Limited (CDC). He is also a Director on the Board of Directors of UBL Currency Exchange Limited and Pakistan Railways Freight Transportation Company (PRFTC). His previous employments include Sui Southern Gas Pipelines Company Limited, Pakistan PTA Limited and ICI worldwide Group Company.

Mr. Hafiz Mohammad Yousaf has been Director since June 21, 2019. Mr. Yousaf is a highly qualified professional having diversified qualifications from the renowned Institutions of Pakistan, USA, and Canada. He is a Fellow Member of the Institute of Chartered Accountants of Pakistan (ICAP), Fellow Member of American Institute of Certified Public Accountants (AICPA) and Member of Canadian Institute of Chartered Professional Accountants (CICPA) besides being member of many other renowned international professional institutions.

Mr. Yousaf possesses over three decades of diversified post qualification experience as a Chartered Accountant, (including two decades at a Big 4 accounting firm as Partner/Country Leader Consulting). His core areas of specialization are corporate finance and restructuring, corporate compliance and regulations, governance and oversight, assurance, consulting and financial advisory services. He has handled, directed and managed a wide variety of complex professional assignments for private and public sectors, national and international entities.

Mr. Yousaf has the honor of serving the council of ICAP for eight years (2009-17) in various leadership positions including being its President for 2015-16 term and represented Pakistan on various prestigious international forums including International Federation of Accountants (IFAC), International Accounting Standard Board (IASB), Asian Oceana Standards Setters Group (AOSSG), CA Worldwide (CAW) and South Asian Federation of Accountants for many years on different meetings and conferences. He has also served on the Boards of State Bank of Pakistan (SBP), and Securities and Exchange Commission of Pakistan (SECP) including
chairing their Audit and Oversight Committees respectively besides being part of many other important committees of the Boards. Currently he is also a Board Member of SAMBA Bank Limited, Pakistan Security Printing Corporation, Security Papers Limited and Security General Insurance Company Limited.

Mr. Saad Iqbal has been Director of the Company since November, 2016. Mr. Saad Iqbal brings over 10 years of strategic leadership, operational excellence, and visionary thinking to the organization. He started his career from his family business; under his leadership and direction the group of companies expanded to many renewable ventures. His dedication to continuous learning is evident through his acquisition of several certificates from esteemed institutions. With a proven track record of driving sustainable growth and fostering innovation, he has successfully led cross-functional teams, expanded market presence, and built strong stakeholder relationships. Mr. Saad Iqbal is known for his ability to align business objectives with long-term vision, ensuring both profitability and positive impact. Under his leadership, the company has achieved significant milestones, reinforcing its position as an industry leader. He is currently adding value to many listed businesses as CEO in Filters Pakistan (Pvt) Limited, Metro Wind Power Limited and Metro Solar Power Limited & Director in Gul Ahmed Energy Limited, Hub Power Company Limited, Metro Power Company Limited, Tariq Glass Industries Limited and Millat Tractors Limited. Passionate about empowering people and embracing change, Mr. Saad Iqbal continues to steer the organization toward new opportunities and greater success.

Mr. Naveed Asghar Chaudhry has been Director since February 19, 2020. He is Fulbright Scholar and has done his MS in Finance and MA in Economics from Georgia State University, USA and an MBA from Australian National University. In addition, he has a BS in Electrical Engineering from University of Engineering & Technology Lahore. He belongs to the Pakistan Audit & Accounts Service and possesses more than 18 years of professional working experience. During his career he has served at senior positions including Director of a Department of the Auditor General of Pakistan, Economic Specialist at US Consulate General Karachi and Directing Staff at Civil Services Academy, Lahore.

He is a Member Finance of the Pakistan Water and Power Development Authority (WAPDA). Mr. Asghar is also a Director on the Board of Directors of Neelum Jhelum Hydropower Company Limited, Diamer Basha Dam Company and First Credit and Investment Bank Limited. He is Member of American Economic Association, member of American Finance Association and Member of Pakistan Engineering Council.

Ms. Mahwish Humayun Khan has served on the Board of Directors of Kot Addu Power Company (KAPCO) since 2021 and is the Chairperson of the HR Committee. She brings more than 12 years of leadership experience in corporate governance, financial oversight, and strategic communications across the energy, development, and multilateral sectors.

In addition to her role at KAPCO, Mahwish has advised several United Nations agencies, including the UN Statistics Division, UNICEF, UN-Habitat, WHO, and the UN Resident Coordinator’s Office. Her international work has focused on governance, strategic communications, program visibility, and stakeholder engagement, with a strong emphasis on sustainable development. She has also worked with the International Food Policy Research Institute (IFPRI) in Washington
DC, supporting global programs on food security and policy reporting.

She holds an MBA in Finance & Investment from NUST Business School, Pakistan, and a Master’s in International Political Economy & Development from Fordham University, New York, where she attended as a Fulbright Scholar.

Mr. Khawaja Khalil Shah has been elected Director of the Company on October 2, 2024. Khawaja Khalil Shah is currently the Chief Executive Officer of MCB Investment Management Limited which he joined in November 2023. He has around 35 years of extensive banking experience in corporate business development and risk management. Before his current role at MCB Investment Management Limited, he served as Chief Risk Officer at MCB Islamic Bank Limited, where he was
instrumental in developing and implementing risk management framework from scratch. In his tenure as Business Head Portfolio Management in the Wholesale Banking Group at MCB Bank Limited, he successfully managed large portfolios, driving significant business growth and fostering strong client relationships.

Khalil has also held key positions at Al-Faysal Investment Bank and Faysal Bank Limited, where he contributed to the development and execution of strategic initiatives that enhanced the banks’ market positions. He has also worked at Union National Bank, Abu Dhabi on corporate relationship management side. His extensive experience in both conventional and Islamic banking has equipped him with a unique perspective and a comprehensive understanding of the banking
and financial sectors. He holds an MBA degree from Lahore University of Management Sciences.

Mr. Muhammad Arfan has been appointed as Director of the Company with effect from April 21, 2025. Mr. Arfan is the Acting Member (Power) of WAPDA and the Chief Executive of Neelum Jhelum Hydro Power Company (Private) Limited. He has comprehensive experience of more than thirty years in Hydropower Planning, Construction, Operation and Maintenance for sector development with more than six years of experience as Chief Executive and in-charge WAPDA Rehabilitation Projects; project director and responsible for maintenance and operation of Mega Hydropower Plant; and Principal, WAPDA Administrative Staff College. Mr. Arfan is successfully leading and executing large-scale hydropower projects including Optimization of Plant Performance, Managing Multidisciplinary teams, and implementing Innovative solutions to enhance operational efficiency and reliability.

Mr. Arfan has done his BSc. Mechanical Engineering (Gold Medalist) from the University of Engineering and Technology, Peshawar. He has also done his Master of Engineering in Mechanical from the Asian Institute of Technology, Bangkok, Thailand. He also attended various trainings in Pakistan and abroad. He is also the director of Diamer Basha Hydro Power Company (Private) Limited.