Sarmaya-e-Pakistan elects board chair

ISLAMABAD: Board of Directors of Sarmaya-e-Pakistan Limited (SPL) on Wednesday unanimously elected Ehsan Malik as its chairman.

A statement said the board, in its maiden meeting, also constituted statutory committees as required by the Corporate Governance Rules, 2013.

The board considered the prime objective of the SPL, which was an initiation of a reform process of State Owned Enterprises (SOEs) to improve their efficiency, service delivery and financial viability, the statement said.

In this regard, it added, the board was of the opinion that all options for reform and reinvigorating the SOEs must be kept in mind.

Prior to the board meeting, Finance Minister Asad Umar met the members and congratulated them on their appointment.

During the meeting, the board also deliberated upon the objectives of the company and agreed considered as their primary objective to initiate a reform process that would result in efficient and better service delivery of SOEs.