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The Cabinet Committee on State-Owned Enterprises (CCoSOEs) met on Tuesday at the Finance Division under the chairmanship of Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb. The committee reviewed several proposals focused on improving governance, restructuring boards, and classifying enterprises under the SOEs (Ownership and Management) Policy 2023.
During the session, the committee approved multiple summaries from various ministries and divisions. The Ministry of National Health Services, Regulations, and Coordination presented a proposal for appointing independent directors to the Board of Jinnah Medical Complex & Research Centre (JMC&RC) Company Limited. The move aims to strengthen the institution’s governance and enhance operational oversight.
A summary from the Ministry of Commerce was also approved, seeking the reconstitution of the Board of Directors of the State Life Insurance Corporation of Pakistan (SLIC). The decision is intended to improve corporate governance and ensure effective management, aligning with the government’s broader privatization strategy.
The Ministry of Housing and Works presented a transition plan for dissolving National Construction Limited and Pakistan Environmental Planning and Architectural Consultants (Private) Limited (PEPAC). The plan provides a framework for the efficient winding-up of both entities and managing their remaining functions.
In addition, the committee approved a summary from the Ministry of Industries and Production for the reconstitution of the Board of Governors of the Pakistan Institute of Management (PIM), Karachi. This step seeks to elevate professional and managerial training standards at the institute.
The Ministry of Information and Broadcasting also received approval for reconstituting the Board of the Pakistan Television Corporation (PTVC). The revised board is expected to strengthen corporate oversight and promote transparency in the operations of the national broadcaster.
Two summaries from the Petroleum Division were also considered. The first focused on nominating directors and members to fill casual vacancies on the Boards of Inter-State Gas Systems Limited (ISGSL) and Pakistan State Oil Company Limited (PSOCL) and forming the Board of Directors of Sui Southern Gas Company Limited (SSGCL). The committee directed that all government nominees must complete corporate governance training within six months before taking charge.
The second summary dealt with the categorization of petroleum-sector enterprises as strategic and essential. After a detailed discussion, the committee formed a subcommittee chaired by the Minister for Petroleum. The group includes the Advisor to the Prime Minister on Privatisation, and the Secretaries of Petroleum, Finance, and Privatisation, who will review the proposals and submit recommendations to the CCoSOEs.
Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal attended the meeting alongside federal secretaries and senior officials from relevant ministries, divisions, and regulatory institutions.
