Islamabad: The Cabinet Committee on State-Owned Enterprises (CCoSOEs) convened at the Finance Division under the leadership of Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, to review and approve significant governance reforms and board reconstitutions across multiple state-owned entities.
The committee examined summaries from various ministries, including the Ministry of National Health Services, which proposed the appointment of independent directors to the Board of Jinnah Medical Complex and Research Centre Company Limited. This move is intended to bolster the governance framework and operational oversight of the institution.
A key decision involved the Ministry of Commerce’s proposal to reconstitute the Board of Directors for the State Life Insurance Corporation of Pakistan. This initiative aims to enhance corporate governance and align management practices with the government’s privatization strategy.
The Ministry of Housing and Works presented a transition plan for the dissolution of National Construction Limited and Pakistan Environmental Planning and Architectural Consultants (Private) Limited. The committee approved this framework, which outlines an efficient winding-up process for both entities.
Further approvals were granted for the reconstitution of the Board of Governors of the Pakistan Institute of Management in Karachi, as proposed by the Ministry of Industries and Production. This measure seeks to elevate the standards of professional and managerial training.
The Ministry of Information and Broadcasting’s summary for reconstituting the Board of the Pakistan Television Corporation also received approval. The reconfigured board is expected to enhance corporate management and promote transparency within the national broadcaster.
The Petroleum Division submitted two summaries. The first involved nominations to fill vacancies on the Boards of Inter-State Gas Systems Limited, Pakistan State Oil Company Limited, and the Board of Directors of Sui Southern Gas Company Limited. The committee mandated governance training for all government nominees before they assume their roles.
The second summary from the Petroleum Division focused on categorizing state-owned enterprises as strategic and essential. A committee led by the Minister for Petroleum was formed to review these proposals and provide recommendations.
The meeting included Federal Minister for Planning, Development and Special Initiatives, Ahsan Iqbal, as well as federal secretaries and senior officials from relevant ministries and regulatory bodies.