The Cabinet Committee on State-Owned Enterprises on Monday instructed the Finance Division and the Privatisation Division to carry out a detailed review of all pending litigation involving entities marked for privatisation.
The two divisions, working with relevant ministries and the Law Division, have been tasked with identifying solutions to clear outstanding cases and prepare the SOEs for a smoother divestment process.
The directives were issued during a meeting chaired by Finance Minister Muhammad Aurangzeb, where the committee also approved several appointments and board reconstitutions across major public-sector organisations.
According to officials, the committee took up summaries from the Finance Division, Maritime Affairs Division, Petroleum Division, and the Industries and Production Division, approving each of the proposals submitted.
Among the decisions, the panel endorsed the Finance Division’s nomination of an independent director to the Board of Zarai Taraqiati Bank Limited. It also cleared the Maritime Affairs Division’s recommendations for independent directors on the Board of Port Qasim Authority, Karachi, and approved the Petroleum Division’s proposal to fill a casual vacancy on the Board of Sui Northern Gas Pipelines Limited.
The Industries and Production Division secured approvals for three separate items: reconstitution of the Board of Sindh Engineering (Pvt) Limited, appointment of a private sector member from Punjab to the Board of the Small and Medium Enterprises Development Authority, and formation of the Board of the State Engineering Corporation.
The chair noted the importance of selecting qualified private-sector professionals for independent director roles, saying that the practice should continue to ensure experienced and competent individuals lead governance at SOEs.
The committee further instructed the Finance and Privatisation Divisions to complete a comprehensive stock-take of litigation involving all SOEs slated for sale and to coordinate with ministries and the Law Division to create processes to address these cases ahead of privatisation.
The meeting was attended by Planning Minister Ahsan Iqbal, Science and Technology Minister Khalid Hussain Magsi, and senior officials from relevant ministries and regulatory bodies.
