Key points
- Independent directors appointed to ZTBL, Port Qasim Authority, and SMEDA boards
- Board constitutions approved for Sindh Engineering (Pvt.) Limited and State Engineering Corporation
- Casual vacancy filled on SNGPL board
- Finance and Privatisation Divisions tasked to review litigation for SOE privatisation readiness
ISLAMABAD: Pakistan’s Cabinet Committee on State-Owned Enterprises, a high-level body responsible for oversight and governance of government-owned companies, approved a series of appointments and board reconstitutions across key state-owned enterprises (SOEs) during its meeting in Islamabad. The committee also directed a comprehensive review of outstanding litigation in SOEs targeted for privatisation to ensure their readiness.
The meeting was chaired by Federal Minister for Finance and Revenue, Muhammad Aurangzeb. Other members of the cabinet sub-committee included Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal, Federal Minister for Science and Technology Khalid Hussain Magsi, along with secretaries and senior officials from relevant ministries, divisions, and regulatory bodies. Agenda items presented by the Finance, Maritime Affairs, Petroleum, Industries and Production Divisions were reviewed and approved.
Among the key appointments, an independent director was named to the Board of Zarai Taraqiati Bank Limited (ZTBL). Likewise, the cabinet committee also approved the appointment of independent directors to the Board of Port Qasim Authority, Karachi. The Petroleum Division’s nomination filled a casual vacancy on the Board of Sui Northern Gas Pipelines Limited (SNGPL). The committee also approved the constitution of the Board of Directors for Sindh Engineering (Pvt) Limited (SEL), the appointment of a private sector member from Punjab to the Board of the Small and Medium Enterprises Development Authority (SMEDA), and the constitution of the Board of Directors of the State Engineering Corporation (SEC).
In concluding remarks, the Chair emphasised the importance of selecting candidates with experience, expertise, and professional acumen for governing boards. The Finance and Privatisation Divisions were tasked to conduct a thorough examination of pending litigation cases across SOEs earmarked for privatisation, coordinating with relevant ministries and the Law Division to implement mechanisms for a smooth privatisation process.
