Cabinet Committee on State-Owned Enterprises approves key board appointments and advances governance reforms through strategic agreements in the maritime and power sectors.
ISLAMABAD: The Cabinet Committee on State-Owned Enterprises (CCoSOEs), chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, approved several important governance and operational measures during a meeting held at the Ministry of Finance.
The session brought together senior government officials, including Federal Minister for Commerce Jam Kamal Khan, Federal Minister for Science and Technology Khalid Hussain Magsi, and Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry, along with representatives from relevant ministries, divisions, regulatory bodies, and state-owned companies.
A key agenda item focused on the appointment of independent directors to the Board of Directors of the Pakistan National Shipping Corporation (PNSC), Karachi. After detailed deliberations, the committee approved the proposed appointments in accordance with the State-Owned Enterprises (Governance and Operations) Act, 2023, and the applicable governance framework.
The committee also reviewed a summary submitted by the Power Division regarding a Public Service Obligation (PSO) agreement for electricity distribution companies (DISCOs). The proposal sought approval for an agreement between the Government of Pakistan and the concerned entities to strengthen operational responsibilities and support the ongoing reform agenda in the power sector.
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