CM-led meeting decides to close down non-active public sector companies

LAHORE: A meeting was held with caretaker Punjab Chief Minister Dr Hasan Askari in the chair here Friday to discuss the performance of public sector companies and other related issues.

The meeting decided to close down non-active and non-operational companies in the province after fulfilling all legal requirements, rules and regulations, and after getting a no objection certificate (NOC) from National Accountability Bureau (NAB). It was also decided that the caretaker government would extend necessary cooperation to NAB Punjab with regard to public sector companies investigation.

The meeting decided that a comprehensive strategy would be designed to bring necessary balance in the salaries of officers and employees of public sector departments and government officers and employees posted to different companies. It was proposed that deputation allowance should be given to the government officers and employees posting to such companies to lessen the fiscal burden on government exchequer.

The caretaker CM said that secretaries would give a detailed briefing to their respective ministers about such companies where public sector companies were established in Punjab government departments. Afterwards, final recommendations would be presented to the caretaker cabinet for final approval.

It was stated in the briefing that implementation had been made on the decision to remove the politically-appointed personalities to the boards of directors of public sector companies.

The Law Department apprised the meeting about the legal mechanism of closing down public sector companies and other legal matters pertaining to them.

Provincial ministers, chief secretary and secretaries of the departments concerned attended the meeting.