June 19, 2026

CCoSOEs approves power sector service agreement, clears key SOE board appointments

Committee endorses PSO framework for distribution companies in line with commitments to international lenders and approves appointments at PNSC and IRADA.

by Web Desk

June 19, 2026

CCoSOEs approves power sector service agreement, clears key SOE board appointments

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The Cabinet Committee on State-Owned Enterprises (CCoSOEs) on Friday approved a Public Service Obligation (PSO) Agreement for power distribution companies (WX-DISCOs), a step aimed at formalising service commitments under arrangements agreed between Pakistan and international financial institutions.

The approval came during a meeting of the committee chaired by Finance Minister Muhammad Aurangzeb at the Finance Division and attended by Commerce Minister Jam Kamal Khan, Science and Technology Minister Khalid Hussain Magsi, Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry and senior officials from relevant ministries, divisions, regulatory bodies and state-owned enterprises.

The committee considered a summary submitted by the Power Division seeking formal approval of the PSO Agreement for WX-DISCOs. According to the summary, the framework is intended to ensure the timely formalisation of public service obligations in accordance with the terms agreed by the Government of Pakistan with international financial institutions.

Separately, the committee approved a proposal from the Maritime Affairs Division regarding the appointment of independent directors to the board of the Pakistan National Shipping Corporation (PNSC). The appointments were cleared following deliberations and were stated to be consistent with the requirements of the State-Owned Enterprises (Governance and Operations) Act, 2023, and the applicable governance framework.

The committee also approved a summary moved by the Science and Technology Division for the appointment of directors to the board of the Indigenous Research and Development Agency (IRADA).

Established in January this year, IRADA was created to spearhead quality research and development initiatives across the defence, industrial and academic sectors.

The decisions were taken as part of the committee's review of governance and operational matters concerning state-owned entities and public sector organisations.