ISLAMABAD: The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has approved the reconstitution of the Board of Directors of National Insurance Company Limited (NICL), including the nomination of two independent and four ex-officio directors, in line with the State-Owned Enterprises (SOEs) Act, 2023, and SOEs Policy, 2023.
The decision was taken at a meeting of the CCoSOEs held at the Finance Division under the chairmanship of Federal Minister for Finance and Revenue Muhammad Aurangzeb.
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According to an official statement, the committee considered a summary submitted by the Commerce Division regarding the reconstitution of the NICL board and approved the proposed nominations.
The approval covers two independent directors and four ex-officio directors, although the names of the nominees were not specified in the statement.
The reconstitution is being undertaken under the legal and policy framework governing state-owned enterprises, which provides the basis for their governance and board composition.
The meeting was also attended by Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry and Federal Minister for Commerce Jam Kamal Khan.
NICL is a state-owned insurance company operating under the administrative oversight of the Commerce Division.
Copyright Business Recorder, 2026