Cabinet panel says insurance firms not strategic bodies
Commerce ministry was directed to explore public private partnership model for Pak Expo company
ISLAMABAD: The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has refused to entertain insurance outfits as strategic organisations, and decided that National Insurance Company Limited (NICL), State Life Insurance Company Limited (SLICL) and Pakistan Re-Insurance Company Limited (PRCL) did not meet the criteria of being strategic organisations.
Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb presided over a meeting of the CCoSOEs at the Finance Division on Monday. The meeting was attended by federal ministers Planning Commission deputy chairman, SBP governor, SECP chairman, federal secretaries and other senior officers of the relevant ministries.
The committee considered the summaries presented by different ministries/divisions for categorisation of their relevant state-owned enterprises (SOEs) as strategic/ essential or otherwise.
The cabinet committee, after detailed discussions, decided that the NICL, SLICL and PRCL did not meet the criteria of strategic or essential SOEs and would not be categorised as essential for the public sector. The commerce ministry was directed to explore public private partnership model for the Pak Expo company.
The committee considered the summary presented by the Ministry of Science & Technology and approved renaming and restructuring the Ministry of Science and Technology, Technology Commercialisation Corporation of Pakistan (STEDEC) into Indigenous Research and Development Agency (Pvt) Limited (IRADA). It was further directed to constitute its board and operationalise the entity by December 2024. The CCoSOEs approved the proposals of Aviation Division and Ministry of Communications for appointment of candidates as independent directors on the Boards of PIA Holding Company Board, Pakistan Postal Services Management Board (PPSMB) and Postal Life Insurance Company Limited (PLICL). The committee directed the Communications ministry to present proposals for categorisation of the entities at the earliest.
-
Prince William Questions Himself ‘what’s The Point’ After Saudi Trip -
James Van Der Beek's Friends Helped Fund Ranch Purchase Before His Death At 48 -
King Charles ‘very Much’ Wants Andrew To Testify At US Congress -
Rosie O’Donnell Secretly Returned To US To Test Safety -
Meghan Markle, Prince Harry Spotted On Date Night On Valentine’s Day -
King Charles Butler Spills Valentine’s Day Dinner Blunders -
Brooklyn Beckham Hits Back At Gordon Ramsay With Subtle Move Over Remark On His Personal Life -
Meghan Markle Showcases Princess Lilibet Face On Valentine’s Day -
Harry Styles Opens Up About Isolation After One Direction Split -
Shamed Andrew Was ‘face To Face’ With Epstein Files, Mocked For Lying -
Kanye West Projected To Explode Music Charts With 'Bully' After He Apologized Over Antisemitism -
Leighton Meester Reflects On How Valentine’s Day Feels Like Now -
Sarah Ferguson ‘won’t Let Go Without A Fight’ After Royal Exile -
Adam Sandler Makes Brutal Confession: 'I Do Not Love Comedy First' -
'Harry Potter' Star Rupert Grint Shares Where He Stands Politically -
Drama Outside Nancy Guthrie's Home Unfolds Described As 'circus'