CCoSOEs clears independent directors for PNSC board
The Cabinet Committee on State-Owned Enterprises (CCoSOEs) approved key appointments for PNSC and IRADA, alongside a Public Service Obligation Agreement for WX-DISCOs.
- Appointment of Independent Directors for PNSC.
- Approval of the PSO Agreement for WX-DISCOs.
- Appointment of Directors for the IRADA board.
ISLAMABAD: The Cabinet Committee on State-Owned Enterprises (CCoSOEs) on Friday approved the appointment of Independent Directors to the Board of Directors of the Pakistan National Shipping Corporation (PNSC), Karachi.
Federal Minister for Finance and Revenue, Muhammad Aurangzeb, chaired a meeting of CCoSOEs. The meeting was attended by Federal Minister for Commerce Jam Kamal Khan, Federal Minister for Science and Technology Khalid Hussain Magsi, and Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry, along with federal secretaries and senior officials from the relevant ministries, divisions, regulatory bodies and state-owned enterprises.
The Committee considered a summary submitted by the Maritime Affairs Division regarding the appointment of Independent Directors on the Board of Directors of the PNSC, Karachi. After detailed deliberations, the Committee approved the proposed appointments in accordance with the provisions of the State-Owned Enterprises (Governance and Operations) Act, 2023, and the applicable governance framework.
Official documents revealed that recommendations of the Board Nomination Committee (BNC) were submitted to the Prime Minister. The Prime Minister approved the placement of nomination of Ziad Bashir before the CCoSoEs and directed that for the second vacancy, a fresh panel of candidates shall be submitted.
The Committee also reviewed and approved a summary presented by the Power Division seeking approval of the Public Service Obligation (PSO) Agreement in respect of the WX-DISCOs for the timely formalization of the public service obligations in light of the agreed terms and conditions of the Government of Pakistan with international financial institutions.
A summary submitted by the Science and Technology Division regarding the appointment of Directors on the Board of the Indigenous Research and Development Agency (IRADA), set up in January this year to lead quality research in the fields of defence, industry, and academia, was also considered and approved.
Copyright Business Recorder, 2026
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