Islamabad (TDI): Cabinet Committee on State-Owned Enterprises (CCoSOEs) meeting at Finance Division today was headed by Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue.
In light of the National Highway Authority’s (NHA) involvement and crucial role in carrying out government policies with major security, social, and economic impacts, the Ministry of Communications put forth a proposal to classify the NHA as an essential State-Owned Enterprise (SOE) under Paragraph 9 of the SOEs Policy 2023.
After a thorough analysis, the proposal was approved by the Cabinet Committee on State-Owned Enterprises (CCoSOEs), which designated the NHA as a vital SOE.
In accordance with Paragraph 9 of the SOEs (Ownership and Management) Policy, 2023, the Ministry of Communications also suggested classifying the Pakistan Post Office Department (PPOD) as a critical and strategic State-Owned Enterprise (SOE).
The CCoSOEs accepted the proposal after reviewing it in light of the Ministry of Communications’ arguments.
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Regarding the strategic classification of Defense Production Establishments, such as Pakistan Ordnance Factories (POF), Heavy Industries Taxila (HIT), Pakistan Aeronautical Complex (PAC), Karachi Shipyard & Engineering Works (KS&EW), National Radio Telecommunication Corporation (NRTC), and Telephone Industries of Pakistan (TIP), the Ministry of Defence Production submitted a proposal.
Fulfilling the operational requirements of the Armed Forces, these establishments are involved in defense and national security related tasks. It was agreed that the idea should be submitted again to the Cabinet for ultimate approval.
A proposal for the reorganization of the boards of directors of the Central Power Purchasing Agency Guarantee Ltd (CPPA-G), the Power Planning and Monitoring Company (PPMC), and the Power Information Technology Company (PITC) was made by the Ministry of Energy’s Power Division.
Each of these Boards’ chairman, ex-officio directors, and independent directors were nominated in the proposal. Once the nominations were given careful thought, the CCoSOEs meeting approved them, reorganizing the CPPA-G, PPMC, and PITC Boards.
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Water and Power Development Authority (WAPDA) should be classified as a strategic or essential SOE, according to a proposal put out by the Ministry of Water Resources.
The Committee deliberated and determined that WAPDA should be considered a necessary SOE. The alignment of WAPDA’s governing Act with the SOEs Act was also mandated.
To ensure that State-Owned Enterprises contribute to national development objectives, the Committee concluded the meeting by highlighting the significance of strategic monitoring and good governance of these entities.
