The Cabinet Committee on State-Owned Enterprises (CCoSOEs), chaired by Federal Finance and Revenue Minister Senator Muhammad Aurangzeb, convened on Friday to review governance matters and approve key appointments and policy measures for state-owned entities.
Meeting Attendees
The meeting, held at the Finance Division, was attended by Federal Commerce Minister Jam Kamal Khan, Federal Science and Technology Minister Khalid Hussain Magsi, and Federal Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry. Federal secretaries and senior officials from relevant ministries, divisions, regulatory bodies, and state-owned enterprises were also present.
Appointments at PNSC
The committee considered a summary from the Maritime Affairs Division regarding the appointment of Independent Directors to the Board of Directors of the Pakistan National Shipping Corporation (PNSC), Karachi. After detailed deliberations, it approved the proposed appointments in accordance with the State-Owned Enterprises (Governance and Operations) Act, 2023, and the applicable governance framework.
PSO Agreement for WX-DISCOs
The committee reviewed and approved a summary from the Power Division seeking approval of the Public Service Obligation (PSO) Agreement for WX-DISCOs. This aims to timely formalize public service obligations in line with agreed terms and conditions between the Government of Pakistan and international financial institutions.
Appointments at IRADA
A summary from the Science and Technology Division regarding the appointment of Directors on the Board of the Indigenous Research and Development Agency (IRADA) was also considered and approved. IRADA, established in January this year, focuses on leading quality research in defense, industry, and academia.
