Federal Minister for Finance Senator Muhammad Aurangzeb chaired the meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) at the Finance Division today.
The Ministry of Communications presented a proposal regarding the categorization of the National Highway Authority (NHA) as an essential State-Owned Enterprise (SOE) under Paragraph 9 of the SOEs Policy 2023, due to NHA’s involvement and its critical role in implementing government policies with significant security, social, and economic impacts. After careful consideration, the committee approved the proposal, categorizing the NHA as an essential SOE.
The Ministry of Communications also proposed the categorization of the Pakistan Post Office Department (PPOD) as a strategic and essential State-Owned Enterprise (SOE) under Paragraph 9 of the SOEs (Ownership and Management) Policy, 2023. The proposal was reviewed in the light of the justifications presented by the ministry and was approved.
The Ministry of Defence Production submitted a proposal regarding the strategic categorization of Defence Production Establishments, including entities like Pakistan Ordnance Factories (POF), Heavy Industries Taxila (HIT), Pakistan Aeronautical Complex (PAC), Karachi Shipyard & Engineering Works (KS&EW), National Radio Telecommunication Corporation (NRTC), and Telephone Industries of Pakistan (TIP).
These establishments are engaged in national security and defence-related activities that fulfill the operational requirements of the Armed Forces. The proposal was approved for further submission to the Cabinet for final approval.
The Ministry of Energy (Power Division) presented a proposal for the reconstitution of the Boards of Directors of the Central Power Purchasing Agency Guarantee Ltd (CPPA-G), Power Planning and Monitoring Company (PPMC), and Power Information Technology Company (PITC).
The proposal included the nomination of Independent Directors, Ex-Officio Directors, and the Chairman for each of these Boards. After consideration, the committee approved the nominations, thereby reconstituting the Boards of CPPA-G, PPMC, and PITC.
The Ministry of Water Resources submitted a proposal to categorize the Water and Power Development Authority (WAPDA) as a strategic or essential SOE. After deliberation, the committee decided to categorize WAPDA as an essential SOE. It was further directed that WAPDA align its governing Act in consonance with the SOEs Act.
The meeting concluded with the committee emphasizing the importance of strategic oversight and effective governance of State-Owned Enterprises to ensure their contribution to national development objectives.
The meeting was attended by Minister for Housing Riaz Hussain Pirzada, Minister for Economic Affairs Ahad Khan Cheema, Minister for Petroleum Awais Leghari, SBP Governor, SECP Chairman, Additional Attorney General for Pakistan, Deputy Chairman of Planning Commission, Federal Secretaries, and senior officers from relevant ministries and departments.
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