The Cabinet Committee on State-Owned Enterprises (CCoSOEs) held a meeting on May 21, 2024, at the Finance Division, chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb. The meeting aimed to discuss and approve proposals for reforms and nominations in various state-owned enterprises.
The meeting was attended by prominent figures, including Minister for Housing and Works Mian Riaz Hussain Pirzada, Minister for Power Sardar Awais Ahmad Khan Leghari, Minister for Maritime Affairs Mr. Qaiser Ahmed Sheikh, Minister for Economic Affairs Mr. Ahad Khan Cheema, Chairman SECP, Federal Secretaries, and other senior officers of relevant ministries.
One of the key decisions made during the meeting was the approval of the Power Division’s proposal for the nomination of independent directors for certain electricity distribution companies. This proposal will be submitted to the cabinet for further consideration.
However, the committee did not approve the proposal presented by the Ministry of Railways to categorize four Railway companies as strategic and essential. Instead, the committee directed the Ministry of Railways to submit a transformation plan for these four companies before the CCoSOEs.
The proposal of the Ministry of Science and Technology was deferred, with the direction to submit a business plan to the committee regarding the reforms planned by the Ministry of Science and Technology for STEDEC.
Meanwhile, the CCoSOEs recognized the strategic nature of Pakistan Television Corporation (PTVC) and Pakistan Broadcasting Corporation (PBC) while approving the proposal of the Ministry of Information and Broadcasting. The committee directed the Ministry of Information and Broadcasting (MoIB) to present a viable business plan to the committee for the efficient management of these enterprises.
The meeting demonstrated the government’s commitment to reforming and improving the performance of state-owned enterprises. The decisions made during the meeting are expected to have a positive impact on the economy and the overall performance of these enterprises.
