Islamabad: In a significant move towards restructuring state-owned enterprises, Finance Minister Muhammad Aurangzeb chaired a meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) in Islamabad, focusing on corporate governance and sustainable development plans.

According to a statement by Ministry of Information and Broadcasting, the Committee approved the reconstitution of the Board of Directors for the Karachi Tools, Dies, and Mould Centre, appointing five principal candidates from the private sector for a three-year term. Abdur Razaaq Gauhar was named Chairman of the Board, aiming to enhance governance and decision-making.

The Board of Directors for the Technology Upgradation and Skills Development Company was also restructured, with six private sector candidates appointed for three years, and Muhammad Noor ud Din Daud as Chairman.

The Committee reviewed business plans from the Ministry of Information and Broadcasting, addressing operational challenges for the Pakistan Broadcasting Corporation (PBC) and Pakistan Television Corporation (PTV). The PBC plan focuses on income generation through improved content and utilizing unused properties, projecting a break-even in two years.

PTV’s plan targets digital expansion and partnerships, aiming to improve operational efficiency and revenue. Cost-saving measures included the abolition of 1,232 posts.

The Committee approved both plans, stressing the importance of operational excellence and timely implementation. It recommended utilizing unutilized assets through private sector sales, avoiding real estate activities that detract from core broadcasting functions.