ISLAMABAD: The Cabinet Committee on State-Owned Enterprises (CCoSOEs), chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, on Friday reviewed a range of governance matters and approved key appointments and policy measures concerning state-owned entities.
The meeting, held at the Finance Division, was attended by Federal Minister for Commerce Jam Kamal Khan, Federal Minister for Science and Technology Khalid Hussain Magsi and Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry, along with federal secretaries and senior officials from the relevant ministries, divisions, regulatory bodies and state-owned enterprises, a news release said.
The committee considered a summary submitted by the Maritime Affairs Division regarding the appointment of Independent Directors on the Board of Directors of the Pakistan National Shipping Corporation (PNSC), Karachi. After detailed deliberations, it approved the proposed appointments in accordance with the provisions of the State-Owned Enterprises (Governance and Operations) Act, 2023, and the applicable governance framework.
The committee also reviewed and approved a summary presented by the Power Division seeking approval of the Public Service Obligation (PSO) Agreement in respect of the WX-DISCOs for timely formalisation of the public service obligations in light of the agreed terms and conditions of the Government of Pakistan with international financial institutions.
A summary submitted by the Science and Technology Division regarding the appointment of Directors on the Board of the Indigenous Research and Development Agency (IRADA) was also considered and approved.
IRADA was set up in January this year to lead quality research in the fields of defence, industry and academia.
