Islamabad: In a significant move to streamline operations and enhance governance, the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) today at the Finance Division. The committee approved crucial appointments to the boards of two major state enterprises and reclassified the Pakistan Housing Authority – Foundation (PHA-F) as essential.
According to Press Information Department, the meeting saw the participation of high-level officials including the Minister for Housing and Works Mian Riaz Hussain Pirzada, Minister for Maritime Affairs Mr. Qaiser Ahmed Sheikh, Minister for Power Sardar Awais Ahmad Khan Leghari, and Minister for Law and Justice Mr. Azam Nazeer Tarar. Key financial and planning officials such as the Deputy Chairman of the Planning Commission, the Governor of the State Bank of Pakistan (SBP), and the Chairman of the Securities and Exchange Commission of Pakistan (SECP) were also in attendance.
The Cabinet Committee endorsed the Finance Division and Power Division’s proposals for appointing independent directors and a chairman to the boards of the Zarai Taraqiati Bank Limited (ZTBL) and the National Transmission and Despatch Company (NTDC), respectively. This decision is aimed at injecting new expertise into these entities to bolster their performance and strategic direction.
Additionally, the Committee addressed a proposal from the Ministry of Housing and Works concerning the Pakistan Housing Authority – Foundation. It decided to categorize PHA-F as essential, a move that underscores the government’s focus on housing as a critical sector. Further, the Committee directed the presentation of a revised plan for PHA-F to ensure its operations align with broader economic and social objectives.
These decisions reflect the committee’s commitment to improving the management and operational efficiency of state-owned enterprises, a key component of the government’s strategy to enhance public sector performance and accountability.