Islamabad: Today, the Cabinet Committee on State-Owned Enterprises (CCoSOEs), led by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, convened at the Finance Division to deliberate on significant restructuring plans for various state-owned enterprises (SOEs). The meeting saw high-level participation, including ministers and heads of key financial institutions.
According to Press Information Department, the committee reviewed proposals submitted by the Finance Division concerning the strategic categorization of SOEs. Key decisions included the approval of the re-merger of the National Security Printing Company (NSPC) with the Pakistan Security Printing Corporation (PSPC). This move is part of broader efforts to streamline operations and enhance efficiency within the public sector. The Ministry of Finance and the State Bank of Pakistan (SBP) have been tasked with finalizing the formalities and presenting an implementation plan to the committee.
Additionally, the Cabinet Committee resolved that the National Bank of Pakistan (NBP), due to its inclusion in the Sovereign Welfare Fund, will be exempt from the SOE Act 2003 and therefore does not require categorization. Conversely, the EXIM Bank has been designated as an Essential SOE, emphasizing its critical role in the country’s economic infrastructure.
These decisions are expected to significantly impact the governance and operational frameworks of the involved institutions, aligning them more closely with the government’s strategic objectives for economic stability and growth.