Finance Minister approves key appointments in PRCL, SLIC, Ignite

The Cabinet Committee on State Owned Enterprises (CCoSOEs) met on Monday at the Finance Division under the chairmanship of Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb.

The meeting was attended by Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry, along with secretaries and senior officials from relevant ministries and regulatory bodies.

The Committee approved agenda items from the Ministry of Commerce and Ministry of Information Technology & Telecommunications, including:

• Filling of one vacant Independent Director position and appointment of Chairman of the Board for Pakistan Reinsurance Company Limited (PRCL).
• Reconstitution of the Board of Directors of State Life Insurance Corporation (SLIC).
• Appointment of members on the Board of Directors of Ignite Company.
• Nomination of the CEO of ZONG to the Board of Universal Services Fund Company (USF) as Director representing Mobile-Cellular Licensees until June 2026.

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Regarding Morafco Industries Limited (MIL), the Committee directed the Ministry of Industries & Production to submit a detailed proposal, in consultation with the Law Division, outlining the process for the body’s winding up.

The Committee also asked the Ministry of Inter-Provincial Coordination to resubmit its proposal on the Pakistan Tourism Development Corporation (PTDC), including a detailed plan on staffing, governance, and PTDC’s role in supporting the national tourism strategy.

The Committee emphasized that any reconsideration of previous decisions must be supported by a clear business case and align with the government’s broader reform and rightsizing agenda for state-owned enterprises.