FinMin Aurangzeb Chairs Meeting on CCoSOEs

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ISLAMABAD: The Cabinet Committee on State-Owned Enterprises (CCoSOEs) deferred the Ministry of Information & Broadcasting’s (MOIB) proposal and directed the Ministry to present a viable business plan for the efficient management of these enterprises.

The CCoSOEs met at the Finance Division, chaired by Federal Minister for Finance & Revenue, Senator Muhammad Aurangzeb.

The meeting was attended by Minister for Housing & Works Mian Riaz Hussain Pirzada, Minister for Power Sardar Awais Ahmad Khan Leghari, Minister for Maritime Affairs Qaiser Ahmed Sheikh, Minister for Economic Affairs Ahad Khan Cheema, Chairman SECP, Federal Secretaries, and other senior officers from relevant ministries.

The CCoSOEs recognized the strategic importance of Pakistan Television Corporation (PTVC) and Pakistan Broadcasting Corporation (PBC) and deferred the MoIB proposal regarding their privatization. The Ministry was asked to present a viable plan to the committee for the efficient management of these enterprises.

The Committee approved the Power Division’s proposal for the nomination of independent directors for certain electricity distribution companies for onward submission to the cabinet.

The committee did not approve the Ministry of Railways’ proposal to categorize four railway companies as strategic and essential, instead directing the Ministry to submit a transformation plan for these companies to the CCoSOEs.

The Ministry of Science and Technology’s proposal was deferred, with the direction to submit a business plan regarding the planned reforms for STEDEC.