The Cabinet Committee on State-Owned Enterprises (CCoSOEs) on Friday approved new nominations for the boards of Pakistan State Oil Company Limited (PSO), Inter-State Gas Systems Limited (ISGSL), and Sui Southern Gas Company Limited (SSGCL), while directing that all government nominees undergo mandatory corporate governance training within six months before assuming their roles.
In addition, the committee formed a high-level body, chaired by the Minister for Petroleum, to review and finalise the categorisation of state-owned enterprises (SOEs) under the Petroleum Division as strategic or essential entities, ensuring alignment with the government’s SOE reform and management framework.
The meeting of CCoSOEs was held today at the Finance Division under the chairmanship of Federal Minister for Finance Muhammad Aurangzeb on Friday, read a press statement.
The committee considered and approved a number of important summaries presented by various ministries and divisions concerning governance reforms, board appointments, and the categorisation of state-owned enterprises in line with the SOEs (Ownership and Management) Policy, 2023.
The CCoSOEs reviewed and approved a summary submitted by the Ministry of National Health Services, Regulations and Coordination regarding the appointment of independent directors on the Board of Jinnah Medical Complex & Research Centre (JMC&RC) Company Limited to strengthen the institution’s governance and operational oversight.
The committee also approved a summary from the Ministry of Commerce regarding the reconstitution of the Board of Directors of the State Life Insurance Corporation of Pakistan (SLIC) with the objective of enhancing corporate governance and ensuring effective management in line with the broader privatisation strategy for the entity.
A summary from the Ministry of Housing and Works regarding the transition plan for the dissolution of National Construction Limited and Pakistan Environmental Planning and Architectural Consultants (Private) Limited (PEPAC) was also considered and approved.
The plan outlines the framework for the efficient winding-up of both entities and the management of their residual functions, read the statement.
The CCoSOE approved another summary from the Ministry of Industries and Production concerning the reconstitution of the Board of Governors of the Pakistan Institute of Management (PIM), Karachi, aimed at improving professional and managerial training standards.
A summary from the Ministry of Information and Broadcasting regarding the reconstitution of the Board of the Pakistan Television Corporation (PTVC) was also approved. The reconstituted board is expected to reinforce corporate management and promote greater transparency in the operations of the national broadcaster.
The meeting was attended by Federal Minister for Planning, Development and Special Initiatives, Ahsan Iqbal, along with federal secretaries and senior officials from the concerned ministries, divisions, and regulatory institutions.
Comments
Comments are closed for this article.