Mian Muhammad Mansha was born in Lahore to a wealthy Chinioti family, his privileged upbringing allowed him to enjoy an early business education at an elite university. His childhood was spent in Faisalabad from where
Mian Muhammad Mansha
Mian Muhammad Mansha was born in Lahore to a wealthy Chinioti family, his privileged upbringing allowed him to enjoy an early business education at an elite university. His childhood was spent in Faisalabad from where he also started his career as one of the most prominent industrialist of Pakistan. His textile mill in Faisalabad under the name of Nishat Mills still is one of the biggest textile units in Faisalabad. He formally joined the family business after completing his studies in London.
Mian Muhammad Mansha greatly benefited from the privatization drive of the 1990s. Through this period, he made a number of acquisitions and buy-outs. Mansha had acquired a controlling position in Adamjee Group, the country's largest non-life insurer, and D.G. Khan Cement, previously owned by the Saigol family and the acquisition of one of Pakistan's most profitable banks, MCB Bank Limited.
Competing with several other bidders in a privatization process, there were several challenges to overcome, but ultimately he persevered. Under Mansha's watch, MCB has demonstrated execution and growth and which has made it one of the premier financial service management teams in the Indian subcontinent.
Mansha has proceeded to venture into new terrain, executing deals with state-owned WAPDA (Water and Power Distribution Authority) to sell excess power capacity generated at Nishat's various power stations. This led to the founding of Nishat Power, which is now a growing business with Mansha's son playing a senior role in the company's executive board.
MCB has also recently started a partnership with Maybank of Malaysia. Maybank now has a 25% share in MCB.
With $700 million in cash from MCB and another $300 million raised from international markets, Mian Muhammad Mansha has aspirations of acquiring an established bank in Indonesia and possibly even in the Middle East. MCB Bank already has international operations, and the Mansha group also owns an automobile leasing company in Kazakhstan. Further plans include major infrastructure projects in Pakistan, such as the construction of power plants and sea ports.
Mian Mohammad Mansha is currently on the board of 46 companies in Pakistan and is one of the most powerful and influential people in the country. He was awarded the Sitara-e-Imtiaz civil award by President Musharraf on 23 March 2004. One of Mansha's companies, Nishat Mills Limited, is the largest exporting entity in Pakistan.
In March 2010, Mian Mohammad Mansha became the first Pakistani ever to make it to the Forbes rich list. Forbes valued Mansha as the World's 937th richest person, with the net worth of $1.0 Billion.