Cabinet committee approves board members of several SOEs

ISLAMABAD: The government on Tuesday instructed relevant authorities to expedite the privatisation process for loss-making entities to improve financial sustainability.

The Cabinet Committee on State-Owned Enterprises (CCoSOEs) met under the chairmanship of the minister for finance and granted its assent to board members of different state-owned entities (SOEs).

The meeting was attended by Federal Minister for Housing and Works Riaz Hussain Pirzada, the attorney general of Pakistan, Securities and Exchange Commission of Pakistan (SECP) executive director, federal secretaries and senior officials from relevant ministries, divisions and departments.

The committee discussed board nominations for various SOEs. It discussed and approved the appointment of three Independent Members to the National Highway Council (NHC) in line with the SOEs (Operation and Management) Policy 2023.

Regarding Board of Postal Life Insurance Company Limited (PLICL), a subsidiary of Pakistan Post under the Ministry of Communications, the forum directed to present agenda along with recommendations for independent directors. For Pakistan Reinsurance Company Limited (PRCL), which operates under the Ministry of Commerce, the committee endorsed the appointment of two principal candidates as independent directors. Additionally, the committee approved board appointments for Jinnah Medical Complex & Research Centre (JMC&RC) Company Limited, which falls under the Ministry of National Health Services, Regulations & Coordination.