Islamabad: In a recent virtual meeting chaired by Finance Minister Muhammad Aurangzeb, the Cabinet Committee on State-Owned Enterprises has approved the reconstitution of the Board of Directors for Pakistan Revenue Automation Ltd (PRAL). The reformation aligns with the stipulations of the State Owned Enterprises Act 2023 and includes a significant shift towards incorporating majority independent directors from the private sector.

According to Ministry of Information and Broadcasting, the committee evaluated a proposal from the Revenue Division that included recommendations for five independent directors and four ex-officio members as outlined by the Board Nominations Committee. The selected independent directors bring a wealth of experience from top management positions and possess extensive qualifications and expertise in law, accountancy, and management.

The approval of the new board structure was unanimously endorsed, reflecting the committee’s support for robust governance and professional management within state-owned enterprises. Finance Minister Muhammad Aurangzeb commended the selection of highly qualified professionals from the SME sector to lead PRAL, expressing optimism that the new board will enforce strong oversight and effective management to enhance the organization’s revenue generation capabilities.