Cabinet panel directs winding up of PTDC, PEPAC

CCoSOEs orders to complete ongoing projects of National Construction Limited (NCL) and prepare winding up plan

The Cabinet Committee on State-Owned Enterprises (CCoSOEs) directed the Cabinet Division to initiate the winding up of Pakistan Tourism Development Corporation (PTDC) and Pakistan Environmental Planning and Architectural Consultants Limited (PEPAC) by clearing the ongoing litigations.

Federal Minister for Finance and Revenue Muhammad Aurangzeb chaired the meeting of the CCoSOEs, according to a news release here on Thursday.

The Cabinet Division presented summaries regarding the Pakistan Tourism Development Corporation (PTDC) and Printing Corporation of Pakistan (PCP).

The CCoSOEs also considered the summaries of the Ministry of Housing and Works relating to Pakistan Environmental Planning and Architectural Consultants Limited (PEPAC) and National Construction Limited (NCL).

The Committee directed that the Printing Corporation of Pakistan (PCP) board should be reconstituted in line with SOE law, policy and business viability plan presented to the committee before a final decision is taken on the future of the entity.

The committee also approved the proposal for winding up of PEPAC. It also directed the authorities to complete the ongoing projects of the NCL and prepare the plan for winding up its operations.

The committee further approved the proposals presented by the Ministry of Maritime Affairs regarding the categorisation of the Port Authorities including Port Qasim Authority (PQA), Karachi Port Trust (KPT), and Gawadar Port Authority (GPA) as Essential.

The Committee was informed that port operations were already outsourced in a number of cases and this policy will continue. 

The Committee directed the Ministry of Maritime Affairs to ensure that the governance framework of Port Authorities is compliant with the SOE law. To this end, the ministry will initiate amendments to their respective statutes.

The summary presented by Power Division to consider the recommendations of the Board Nominations Committee (BNC) regarding boards of Electricity Distribution Companies (DISCOs) was approved by the Cabinet Committee, which contained nominations for Boards of nine electricity distribution companies.

Minister for Housing and Works Mian Riaz Hussain Pirzada, Minister for Maritime Affairs Qaiser Ahmed Sheikh, Minister of Federal Education and Professional Training of Pakistan Khalid Maqbool Siddiqui, Federal Secretaries and other senior officers of the relevant ministries also attended the meeting.


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