Home-made multiwall carbon nanotubes (MWCNTs) were used as a reinforcing conducting filler for a thermoplastic polymer, polycarbonate (PC) and the mechanical and electrical properties of the composites were investigated for electrostatic discharge (ESD) and electromagnetic interference (EMI) shielding applications. A uniformly dispersed MWCNT/PC composite system was fabricated using solvent casting and a combination of solvent casting and compression molding techniques. The effect of MWCNTs on the failure mechanism of the polymer under tensile loading showed a ductile to brittle transition with increasing amount of carbon nanotubes. ESD studies showed that the composite films of 2 and 5 wt% functionalized-MWCNT/PC with respective charge decay times of 1 and 0.6 s show promise as electrostatic dissipative materials. EMI shielding effectiveness of a five-layered system ($2 mm thickness) of as-synthesized-MWCNT/PC composite films at 20 wt% loading reached 43 dB in the X-band (8.2-12.4 GHz). The primary mechanism of shielding was absorption, suggesting possible use as an EMI absorbing material. By using low pressure (contact pressure) compression molding the EMI shielding properties of bulk composites ($2 mm thickness) improved by about 14 dB at 10 wt% MWCNT loading.