Islamabad: The Cabinet Committee on State-Owned Enterprises, chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, convened at the Finance Division to discuss and approve various board reconstitutions and appointments. The meeting saw the participation of several ministers, senior officials, and financial regulators, focusing on enhancing the governance of state-owned enterprises in Pakistan.

According to Press Information Department, the committee reviewed and approved a summary from the Cabinet Division that proposed the reconstitution of the Printing Corporation of Pakistan’s Board of Directors, now set to include five independent directors in compliance with the SOEs Ownership and Management Policy 2023. The meeting also addressed proposals from the Ministry of National Food Security and Research for appointing independent directors to the Livestock and Dairy Development Board, as well as the Fisheries Development Board, with the respective appointments receiving approval.

Further discussions included a summary from the Ministry of Railways regarding the reconstitution of the Boards of Directors for four railway state-owned enterprises, with recommendations from the Board Nomination Committee being approved. The Ministry of Overseas Pakistanis and Human Resource Development’s proposal to add independent members to the Overseas Pakistanis’ Foundation’s Board of Governors was also sanctioned.

Additionally, the Ministry of Finance presented a report on the financial performance of state-owned enterprises for the first half of the 2024 financial year, focusing on key areas such as business plan analysis, risk management, and corporate compliance. The meeting concluded with a review of the implementation of previous decisions, led by the Director General of the Central Monitoring Unit.