The Cabinet Committee on State-Owned Enterprises (CCoSOEs) held a key meeting on Friday under the chairmanship of Federal Finance Minister Senator Muhammad Aurangzeb. The committee approved several important governance reforms and board restructuring initiatives aimed at improving oversight and management of state-owned enterprises across Pakistan.
During the meeting, the Cabinet Committee reviewed multiple summaries from various ministries and divisions. The decisions are aligned with the SOEs (Ownership and Management) Policy, 2023, which emphasizes transparency, accountability, and operational efficiency in state-owned entities.
Among the key approvals, independent directors were appointed to the Board of Jinnah Medical Complex & Research Centre (JMC&RC) to strengthen governance and oversight. The committee also approved reconstitution of the Board of Directors at State Life Insurance Corporation of Pakistan (SLIC) to support improved management practices and ongoing privatization efforts.
The Cabinet Committee also sanctioned a transition plan for dissolving National Construction Limited and Pakistan Environmental Planning and Architectural Consultants (PEPAC). These measures are aimed at efficiently managing the remaining functions and assets of both entities.
Furthermore, the Ministry of Industries and Production received approval to reconstitute the Board of Governors at the Pakistan Institute of Management (PIM), Karachi. The Pakistan Television Corporation (PTVC) board was also restructured to enhance corporate governance and transparency at the national broadcaster.
In the petroleum sector, the committee approved nominations for boards of Inter-State Gas Systems Limited (ISGSL), Pakistan State Oil Company Limited (PSOCL), and Sui Southern Gas Company Limited (SSGCL). Government nominees to all SOE boards are required to complete corporate governance training within six months before assuming their roles.
The meeting also established a sub-committee to categorize petroleum sector SOEs as strategic and essential entities, chaired by the Minister for Petroleum and including relevant advisors and secretaries. The Cabinet Committee emphasized that these reforms aim to strengthen state-owned enterprises and ensure better accountability, efficiency, and operational performance.
Senior officials, federal secretaries, and regulators from concerned ministries attended the session, demonstrating the government’s commitment to improving governance across Pakistan’s SOE sector.
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This comprehensive approach is expected to enhance transparency, accountability, and the overall performance of state-owned enterprises in the country.
