Cabinet panel allows state-run broadcasters to boost profitability

ISLAMABAD: While approving boards of Directors of different state-owned entities, the Cabinet Committee on State-Owned Enterprises (CCOSOEs) has granted its nod to the Pakistan Broadcasting Corporation (PBC) and Pakistan Television (PTV) for maximizing efficiency and revenue potential. Declaring state-owned media outlets as strategic outfits by the CCOSOEs in the past, the committee asked about turning from loss to profit-making entities and the PBC high-ups’ claim that they could touch breakeven within two years period.

The CCoSOEs deliberated on the plans of PBC and PTV and approved them emphasizing the need for operational excellence and timely implementation of planned actions to achieve desired results.

The committee advised the Ministry of Information and Broadcasting to utilize unutilized spaces, assets, and open lands of PBC and PTV by selling them to the private sector instead of engaging in real estate activities that may detract from their core functions as state broadcasters. Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb chaired the meeting of the CCoSOEs at the Finance Division on Friday.

The Committee deliberated on the reconstitution of the Board of Directors of Karachi Tools, Dies, and Mould Centre (KTDMC) under the Ministry of Industries and Production. The CCoSOEs approved the appointment of five principal candidates from the private sector, along with ex-officio directors, for three years. Mr. Abdur Razaaq Gauhar was appointed as the Chairman of the Board. This reconstitution aims to improve corporate governance and ensure effective decision-making for the entity.

The reconstitution of the Board of Directors of the Technology Upgradation and Skills Development Company (TUSDEC) was also approved. The Committee appointed six principal candidates from the private sector, along with ex-officio directors, for three years. Mr. Muhammad Noor ud Din Daud was selected as the Chairman of the Board.

This reconstitution aligns with the SOEs Ownership and Management Policy, 2023, focusing on enhancing operational efficiency and aligning the company’s goals with national priorities. In addition to the reconstitutions, the Committee reviewed separate business plans submitted by the Ministry of Information and Broadcasting for addressing key operational challenges and outlining roadmaps for sustainable development, including organizational growth, financial sustainability and improved services, for Pakistan Broadcasting Corporation (PBC) and Pakistan Television Corporation (PTV). The plans were prepared in compliance with the directions of the CCoSOEs and the format prescribed by the Central Monitoring Unit (CMU) of the Finance Division. The business plan submitted in respect of PBC mainly focused on several measures aimed at ensuring income generation through improved program content, better signal quality, utilisation of seven large unutilised concrete spaces and six large tracts of open lands located in different cities as well as installation of ATM booths and advertising billboards at appropriate sites of the Radio Pakistan. The Committee was told that the PBC would be able to achieve a breakeven in two years after the execution of the proposed business plan. For the PTV, the Ministry of Information and Broadcasting submitted a business plan featuring measures and interventions targeting digital expansion, content licensing, profitable marketing partnerships, public-private partnerships, and utilisation of PTV properties for maximising operational efficiency and overall revenue potential. The Committee was told that out of 5,442 sanctioned posts of PTV, 1,232 posts had also been abolished to save costs.