Islamabad: In a significant move to bolster national development, the Cabinet Committee on State-Owned Enterprises convened in Islamabad today under the chairmanship of Finance Minister Muhammad Aurangzeb. The committee underscored the importance of effective governance of state-owned enterprises (SOEs) and approved several proposals categorizing key enterprises as essential.
According to Ministry of Information and Broadcasting, the meeting highlighted the critical role of SOEs in implementing government policies with substantial security, social, and economic implications. The Ministry of Communications proposed that the National Highway Authority (NHA) be classified as an essential SOE due to its pivotal involvement in national projects. The Cabinet Committee approved this proposal, recognizing the NHA’s integral function in the country’s infrastructure development.
Moreover, the Pakistan Post Office Department was also proposed to be categorized as both strategic and essential. This categorization aims to underline the department’s importance in the national communication and logistics network.
The Ministry of Defence Production submitted proposals for the strategic categorization of various defence production establishments, including Pakistan Ordnance Factories, Heavy Industries Taxila, Pakistan Aeronautical Complex, Karachi Shipyard and Engineering Works, National Radio Telecommunication Corporation, and Telephone Industries of Pakistan. These establishments play vital roles in national defense and security.
The Ministry of Energy (Power Division) presented a proposal regarding the reconstitution of the Boards of Directors for several key entities, including the Central Power Purchasing Agency Guarantee Ltd, Power Planning and Monitoring Company, and Power Information Technology Company. These changes are intended to enhance governance and oversight.
Additionally, the Ministry of Water Resources proposed the categorization of the Water and Power Development Authority (WAPDA) as either strategic or essential. After deliberation, the committee decided to categorize WAPDA as an essential SOE and directed that its governing Act be aligned with the SOEs Act to ensure better governance and alignment with national objectives.
These decisions mark a significant step towards reinforcing the governance of state-owned enterprises in Pakistan, aligning them more closely with the nation’s development goals.