Govt approves key appointments for state-owned entities, including PTV and Jinnah Medical Complex

The Cabinet Committee on State-Owned Enterprises (CCoSOEs) on Friday approved the filling of key vacancies in various state-owned entities, including the Pakistan Television Corporation (PTV) and the Jinnah Medical Complex Company. 

The decisions were made during a meeting chaired by Finance Minister Muhammad Aurangzeb. The committee approved the reconstitution of PTV’s board, which will include five new members: Yasir Qureshi, Dr. Asghar Nadeem Syed, Tasneem Rehman, Khalid Mehmood Khan, and Ishtiaq Baig. 

However, the appointment of a new chairman for PTV was deferred for further consultation with the Ministry of Information. A final decision on the chairman will be made soon, with one of the newly appointed board members expected to take the role.

In addition to PTV, the committee also approved the nomination of three new members to the board of Jinnah Medical Complex Company, including former acting foreign minister Jalil Abbas Jilani. The company is tasked with establishing a state-of-the-art hospital in Islamabad, at an estimated cost of Rs213 billion.

The government has opted to retain full ownership of the Jinnah Medical Complex Company, with plans to design, construct, and operate a 1,000-bed hospital offering high-quality, affordable medical services. However, the project is facing funding challenges, with the International Monetary Fund (IMF) not approving a proposed new tax to raise funds. The government is exploring alternative funding options, including using proceeds from Panda bonds.

Further decisions included the reconstitution of the board of the State Life Insurance Corporation (SLIC) to improve corporate governance and management. 

The Ministry of Housing and Works also received approval for a transition plan to dissolve two entities, National Construction Limited and Pakistan Environmental Planning and Architectural Consultants (PEPAC), and manage their residual functions.

Additionally, the committee approved new nominations for casual vacancies on the boards of Inter-State Gas Systems Limited (ISGSL), Pakistan State Oil Company (PSO), and Sui Southern Gas Company (SSGCL). It was emphasized that all government nominees for SOE boards must undergo mandatory corporate governance training within six months.

The Petroleum Division’s proposal to categorize its SOEs as strategic and essential was also discussed. A committee has been formed to review and present recommendations on the matter.