ISLAMABAD: The Cabinet Committee on State-Owned Enterprises (CCoSOEs) on Monday approved a series of board-level appointments across key state-owned entities as part of its ongoing effort to tighten governance structures.
The meeting, chaired by Finance Minister Muhammad Aurangzeb, reviewed summaries from the Finance Division, Maritime Affairs Division, Petroleum Division, and the Industries and Production Division. All agenda items placed before the committee were endorsed.
The approvals included the Finance Division’s proposal for an independent director on the Board of Zarai Taraqiati Bank Limited (ZTBL). The Maritime Affairs Division’s summary for appointing independent directors to the Port Qasim Authority (PQA) Board was also cleared. The committee further approved the Petroleum Division’s nomination to fill the casual vacancy on the Board of Sui Northern Gas Pipelines Limited (SNGPL).
Three summaries submitted by the Industries and Production Division were endorsed as well. These covered the constitution of the Board of Directors for Sindh Engineering (Pvt.) Limited (SEL), the appointment of a private sector representative from Punjab to the Small and Medium Enterprises Development Authority (SMEDA) Board, and the constitution of the Board of Directors of the State Engineering Corporation (SEC).
Aurangzeb noted the effort made to nominate individuals from the private sector with relevant expertise and urged ministries to maintain this approach to ensure that SOE boards are filled with candidates possessing suitable professional backgrounds.
The committee also directed the Finance Division and the Privatisation Division to conduct a detailed review of pending litigation involving SOEs marked for privatisation. Both divisions were asked to coordinate with ministries and the Law Division to identify ways to resolve outstanding legal matters and ensure smoother privatisation processes.
Federal Minister for Planning Ahsan Iqbal, Federal Minister for Science and Technology Khalid Hussain Magsi, and senior officials from concerned ministries, divisions and regulators attended the meeting.
