Bleeding SOEs to be revived through active supervision

• Improving governance structure of SOEs and role of Sarmaya Pakistan Limited (SPL) established earlier this year by the Cabine.
• The Adviser emphasized that immediate attention is required to contain the losses in a number of SOEs which are a cause of losses to the economy.

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh has underscored efforts to contain losses in a number of State-Owned Enterprises (SOEs) through better governance and active supervision.

He made this observation while chairing a meeting on improving governance structure of SOEs and role of Sarmaya Pakistan Limited (SPL) established earlier this year by the Cabinet to bring in professional expertise to improve the governance of the SOEs’ and making these organisations profitable ones.

Noted economists and financial experts, including Shaukat Tareen and Zubyr Soomro, and senior officers of Finance Division were also present.

During the meeting, the current state of affairs of SOEs was discussed in detail and it was decided that a proposal to reconstitute the Board of Sarmaya along with names and details of proposed organisations which could benefit from active supervision and guidance of the SPL’s professional management, would be submitted to the Prime Minister through Cabinet Committee of State Owned Enterprise in the coming weeks.

The Adviser emphasized that immediate attention is required to contain the losses in a number of SOEs which are a cause of losses to the economy.

Better governance and active supervision is expected to bring in considerable improvements.