Islamabad: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, presided over a significant meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) held at the Finance Division. The session featured high-level discussions on the strategic categorization and governance of key state-owned enterprises (SOEs), focusing on sectors like national defense, infrastructure, and utilities, which play pivotal roles in national development and security.
According to Press Information Department, the meeting saw the attendance of several key figures including the Minister for Housing and Works Mian Riaz Hussain Pirzada, Minister for Economic Affairs Mr. Ahad Khan Cheema, Minister for Petroleum Mr. Awais Ahmed Leghari, the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan, the Additional Attorney General for Pakistan, and other senior officials. The Ministry of Communications, during this meeting, successfully proposed the categorization of the National Highway Authority (NHA) as an essential SOE due to its significant role in implementing government policies that impact security, social, and economic spheres. The proposal was approved by the CCoSOEs.
Further discussions led to the approval of the Pakistan Post Office Department (PPOD) as both a strategic and essential SOE, highlighting its critical function in national communications and logistics. The Ministry of Defence Production also presented proposals for the strategic categorization of major defense production establishments such as 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, vital for national security and defense, received approval for further consideration by the Cabinet.
The Ministry of Energy’s proposal for reconstituting the Boards of Directors for the Central Power Purchasing Agency Guarantee Ltd, Power Planning and Monitoring Company, and Power Information Technology Company was also approved, indicating a strategic move to enhance governance in the power sector. The nominations included Independent Directors, Ex-Officio Directors, and Chairmen for these boards.
Additionally, the Water and Power Development Authority (WAPDA) was discussed and subsequently categorized as an essential SOE by the committee, which also directed WAPDA to align its governing Act with the SOEs Act to ensure better governance and alignment with national objectives.
The meeting concluded with a unified emphasis on the importance of strategic oversight and effective governance of State-Owned Enterprises to bolster their contribution towards achieving national development goals.