Islamabad: In a meeting chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, the Cabinet Committee on State-Owned Enterprises (CCoSOEs) reviewed and approved several governance matters concerning state-owned enterprises. The session, held at the Finance Division, was attended by key federal ministers and senior officials from various ministries and divisions.

According to Press Information Department, the Committee considered a summary from the Maritime Affairs Division proposing the appointment of Independent Directors to the Board of Directors of the Pakistan National Shipping Corporation (PNSC) in Karachi. Following comprehensive discussions, the appointments were approved as per the State-Owned Enterprises (Governance and Operations) Act, 2023, and the existing governance framework.

Additionally, the Committee approved a Public Service Obligation (PSO) Agreement related to WX-DISCOs, presented by the Power Division. This agreement aims to formalize public service obligations based on terms agreed upon with international financial institutions. Furthermore, a proposal from the Science and Technology Division regarding the appointment of Directors to the Board of the Indigenous Research and Development Agency (IRADA) was also approved. IRADA, established earlier this year, is tasked with spearheading research in defense, industry, and academia.