Islamabad: The Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a significant meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) today. The meeting, which addressed various critical issues regarding the management and strategic direction of key State-Owned Enterprises (SOEs), concluded with the approval of multiple appointments and strategic categorizations to enhance operational efficiencies within these entities.
According to Press Information Department, the meeting was attended by prominent ministers including the Minister for Planning Development and Special Initiatives, Mr. Ahsan Iqbal, and the Minister for Commerce, Mr. Jam Kamal Khan, among others. Discussions at the meeting included a summary from the Ministry of Commerce about revitalizing the Trading Corporation of Pakistan (TCP), which was declared an essential SOE under the new SOEs Policy, 2023. The committee agreed that a detailed financial plan should be prepared for TCP, particularly addressing the settlement of its liabilities.
In another key decision, the committee approved the appointment of Ms. Ayesha Aziz and Mr. Imran Maqbool as Independent Directors on the Board of the Export-Import (EXIM) Bank of Pakistan, aligning with Section 17 of the Export-Import Bank of Pakistan Act, 2022. Furthermore, the Small and Medium Enterprises Development Authority (SMEDA) was categorized as an essential SOE, highlighting its role in facilitating SMEs.
The session also covered the appointment of Independent Directors to the Pakistan National Shipping Corporation (PNSC) and its categorization as a Strategic SOE. The committee supported exploring increased private shareholding in PNSC to bolster its operational capabilities. Additionally, the reconstitution of the Board of Trustees of Karachi Port Trust (KPT) for the term 2024-2026 was approved, pending final cabinet approval.
These decisions reflect the committee’s commitment to enhancing the governance and efficiency of state-owned enterprises, ensuring they play a pivotal role in the national economy.