ECC approves board appointments at Strategic Digital Wallet Company
The CCoSOEs approved key director appointments for the Strategic Digital Wallet Company and Pakistan State Oil, alongside activating the Clean Environment Fund Company, while deferring a pharma export proposal.
- Appointments for the Strategic Digital Wallet Company.
- New independent directors for Pakistan State Oil.
- Activation of the Clean Environment Fund Company.
- Deferred proposal for Pakistan Pharma Export Council.
The Cabinet Committee on State-Owned Enterprises (CCoSOEs) approved on Monday a summary for the appointment of four Independent Directors to the Board of the Strategic Digital Wallet Company, established to manage, safeguard, and administer Pakistan’s sovereign virtual assets.
The summary was submitted by the Finance Division, according to an official press release.
The committee met at the Finance Division under the chairmanship of Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb. The meeting was also attended by Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry.
During the meeting, the committee also approved a summary submitted by the Petroleum Division regarding the nomination of a female Independent Director to the Board of Management of Pakistan State Oil Company Limited (PSO).
It also approved the nomination of another Independent Member to the PSO Board of Management, as part of the process of reconstituting the Board following the expiry of its previous statutory term.
The committee considered a summary submitted by the Ministry of Commerce regarding the establishment of the Pakistan Pharma Export Promotion Council as a Section 42 company under the Companies Act, 2017, under the administrative control of the Trade Development Authority of Pakistan.
“The Committee deferred the proposal and directed the Ministry to undertake further consultations with relevant stakeholders before resubmitting it for consideration.”
The CCoSOEs also approved a summary submitted by the Ministry of Climate Change and Environmental Coordination regarding the activation of the Clean Environment Fund Company under the Pakistan Environmental Protection Agency, through the appointment of two ex-officio and three Independent Directors. The company is intended to support environmental protection, conservation, rehabilitation and improvement by facilitating the mobilisation and utilisation of resources for environmental initiatives.