The Cabinet Committee on State-Owned Enterprises (CCoSOEs) on Friday approved the appointment of independent directors to the board of Pakistan National Shipping Corporation (PNSC) as part of efforts to strengthen governance at state-owned enterprises.
The committee, chaired by Finance Minister Muhammad Aurangzeb, considered a summary submitted by the Maritime Affairs Division and approved the proposed appointments in line with the State-Owned Enterprises (Governance and Operations) Act, 2023.
The committee also approved a Public Service Obligation agreement for the distribution companies operating under the Power Division to formalize commitments agreed with international financial institutions.
In addition, members approved the appointment of directors to the board of the Indigenous Research and Development Agency (IRADA), which was established earlier this year to promote research collaboration among the defense, industrial, and academic sectors.
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