Finance minister approves reconstitution of NICL Board of Directors
Pakistan's Cabinet Committee approved NICL's Board reconstitution. The Finance Minister also departed for the World Bank-IMF Annual Meetings to engage global financial institutions.
- Reconstitution of National Insurance Company Limited's board.
- Finance Minister's engagements at World Bank-IMF Annual Meetings.
- Pakistan's economic reforms and engagement with global investors.
The Cabinet Committee on State-Owned Enterprises (CCoSOEs) approved on Saturday reconstitution of the Board of Directors of National Insurance Company Limited (NICL), the Finance Division said.
The development came as the committee met at the Finance Division. The meeting was also attended by Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry and Federal Minister for Commerce, Mr. Jam Kamal Khan.
“The CCoSOEs considered a summary submitted by the Commerce Division regarding the reconstitution of the Board of Directors of National Insurance Company Limited. The Committee approved the proposed nominations including the two Independent and four ex-officio Directors, in accordance with the SOEs Act, 2023, and the SOEs Policy, 2023,” the statement read.
Aurangzeb departs for World Bank Group–IMF Annual Meetings 2026 in Bangkok
Finance minister Aurangzeb departed on Saturday for Bangkok, Thailand, to lead Pakistan’s delegation to the World Bank Group–IMF Annual Meetings 2026, scheduled to be held from October 12 to 18, 2026, the Finance Division said in a separate statement.
During the visit, the finance minister would represent Pakistan at key events of the International Monetary Fund (IMF) and the World Bank Group and undertake a programme of over 60 high-level engagements with international financial institutions, finance ministers and policymakers, development partners, global investors, banks, credit rating agencies, think tanks, and international media, the statement added.
The visit comes as Pakistan continues its transition from macroeconomic stabilisation towards sustainable, investment and export-led growth, while advancing structural reforms and strengthening engagement with international capital markets and development partners.
The finance minister will also hold engagements with the leadership of the IMF and World Bank Group, including the International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA), focusing on Pakistan’s macroeconomic outlook, reform progress, private sector development and future cooperation.
He will also attend the IMF Managing Director’s meeting with Finance Ministers, Central Bank Governors and Heads of Regional Financial Institutions of the Middle East, North Africa, Afghanistan and Pakistan (MENAP) region, the Finance Division said.