ISLAMABAD: The Central Mentioning Unit (CMU) established in the Finance Division is currently working on the state-owned enterprises’ (SOEs) performance reports of the last three financial years.
Sources, on condition of anonymity, said that the Finance Division in a proposal has informed the Cabinet Committee on SOEs that CMU has been operationalised in the Finance Division under the SOEs Act, 2023. The CMU is currently working on the SOEs performance reports for the last three financial years.
Active support and cooperation of Ministries/ Divisions are solicited regarding the provision of data of SOEs’ performance to the CMU so that the performance reports can be presented to the Cabinet Committee on SOEs at the earliest.
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The Finance Division would also solicit collaboration of the ministries and divisions to strengthen the SOEs’ governance through the implementation of the SOEs Act and the SOEs Policy.
The Finance Division added the SOEs Governance and Operation Act, 2023, was notified in February 2023 and section 4 (1) of the Act stipulates that the federal government shall at least once every five years, prepare and prescribe a SOEs Ownership and Management Policy by giving effect to the objectives of the Act.
Moreover, the same section further provides that the first policy under this Act shall be notified no later than one year from the coming into effect of this Act.
The draft policy was accordingly prepared by Finance Division in February 2023 with the relevant stakeholders including Ministries/ Divisions, which have any SOEs under their administrative control for soliciting their views and comments, additionally, in order to ensure transparency and to obtain input from the general public, the draft policy was placed on the website of Finance Division on April 19, 2023. The relevant views/ comments and feedback received from various stakeholders have been incorporated in the policy.
Copyright Business Recorder, 2023
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