The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has approved new nominations for the Boards of Pakistan State Oil Company Limited (PSO), Inter State Gas Systems Limited (ISGSL), and Sui Southern Gas Company Limited (SSGCL). The Committee also directed that the nominated individuals must complete mandatory corporate governance training within six months of assuming their responsibilities.
In a related move, the Committee established a high-level committee headed by the Petroleum Minister to finalize the classification of State-Owned Enterprises (SOEs) under the Petroleum Division as “strategic” or “essential.” This is intended to ensure alignment with the government’s broader SOE reform and governance framework.
The CCoSOEs meeting, chaired by Federal Finance Minister Muhammad Aurangzeb, was held at the Finance Division today.
The Committee reviewed and approved several key summaries presented by various Ministries and Divisions regarding governance reforms, board appointments, and the classification of SOEs in line with the SOE (Ownership and Management) Policy 2023.
The approved summaries included:
- Ministry of National Health Services: Approval for the appointment of Independent Directors to the Board of Jinnah Medical Complex and Research Centre Company Limited to strengthen governance and administrative oversight.
- Ministry of Commerce: Approval for the reconstitution of the Board of Directors of State Life Insurance Corporation of Pakistan to enhance corporate governance and ensure effective management, aligning it with the broader privatization plan for the entity.
- Ministry of Housing and Works: Approval of the transition plan for the winding up of National Construction Limited and Pakistan Environmental Planning and Architectural Consultants (Private) Limited, providing a framework for their efficient dissolution and the management of remaining affairs.
- Ministry of Industries and Production: Approval for the reconstitution of the Board of Governors of the Pakistan Institute of Management, Karachi, aiming to improve the quality of professional and management training.
- Ministry of Information and Broadcasting: Approval for the reconstitution of the Board of Pakistan Television Corporation, which is expected to strengthen the national broadcaster’s corporate governance and promote greater transparency in its operations.
The meeting was attended by Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal, along with Federal Secretaries and senior officials from relevant Ministries, Divisions, and regulatory bodies.
