The Cabinet Committee on State-Owned Enterprises, chaired by Finance Minister Muhammad Aurangzeb, approved the procurement policy of EXIM Bank and key appointments while reviewing PTDC’s streamlined business plan to promote tourism.
The meeting was attended by the Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry (virtually), along with Secretaries and senior officials from the relevant ministries, divisions, and regulatory bodies.
The Committee reviewed and approved the Procurement Policy of the Export-Import (EXIM) Bank of Pakistan 2025, aimed at streamlining EXIM Bank’s procurement operations and aligning it with the State-Owned Enterprises Act, 2023, while ensuring compliance with Chartered Institute of Procurement and Supply (CIPS) global standards and PPRA regulations.
Additionally, the Committee reviewed and approved agenda items submitted by the Ministry of Commerce. These included filling one vacant position for Independent Director and the appointment of the Chairman of the Board of National Insurance Company Limited (NICL); filling one vacant position for Independent Director on the Board of State Life Insurance Corporation (SLIC); and appointment of an Independent Director on the Board of the Trading Corporation of Pakistan (TCP) against one of two vacant positions.
The Committee also reviewed a business plan submitted by the Ministry of Inter-Provincial Coordination regarding the Pakistan Tourism Development Corporation (PTDC). It approved retention of PTDC’s core functions in the form of a lean, right-sized “centre of excellence” to promote brand Pakistan, serve as the face of Pakistan to the world, and facilitate intergovernmental coordination, policy support, and marketing and brand development to promote tourism.
This will be achieved with a rationalized staff and a revised Board of Directors in line with governance requirements. The Committee also asked the Ministry to submit a separate proposal, in coordination with the Law Division, regarding funding and management of assets already under PTDC.