CCoSOEs approves key board appointments, seeks revised proposal on MIL

December 16, 2025 (MLN):  The Cabinet Committee on State-Owned Enterprises (CCoSOEs)  approved several key decisions related to the reconstitution of boards and senior appointments in major state-owned entities, while directing relevant ministries to submit revised and detailed proposals on the winding up and restructuring of certain organizations, including Pakistan Tourism Development Corporation (PTDC) and Morafco Industries Limited (MIL).

The meeting was held at the Finance Division under the chairmanship of Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb and was attended by Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry, along with secretaries and senior officials from concerned ministries, divisions, and regulatory bodies, said a press release issued.

During the meeting, the Committee reviewed and approved agenda items presented by the Ministry of Commerce and the Ministry of Information Technology and Telecommunications (MoITT).

These included the filling of a vacant position of Independent Director, appointment of Chairman of the Board, recommendations for ex-officio positions, and reconstitution of the Board of Directors of Pakistan Reinsurance Company Limited (PRCL), reconstitution of the Board of State Life Insurance Corporation (SLIC), and appointment of members on the Board of Ignite Company.

The Committee also approved a proposal by MoITT for the nomination of the Chief Executive Officer of ZONG as the nominee of Mobile-Cellular Licensees on the Board of Universal Services Fund (USF) Company for the remaining term of the board until June 2026.

On the agenda item related to Morafco Industries Limited (MIL), presented by the Ministry of Industries and Production, the Committee directed the ministry to return with a comprehensive proposal, in consultation with the Law Division, clearly outlining the process for winding up the entity as previously decided.

The Committee further considered a summary submitted by the Ministry of Inter-Provincial Coordination seeking reconsideration of its earlier decision regarding the winding up of PTDC.

The Ministry emphasized the need for a national-level tourism coordination mechanism, noting that the absence of a central entity has hindered Pakistan’s ability to present a unified tourism strategy and align provincial initiatives.

It proposed the creation of a lean, right-sized centre of excellence to support intergovernmental coordination, policy development, and tourism promotion.

After deliberations, the Committee asked the Ministry of Inter-Provincial Coordination to re-submit its proposal with a detailed plan, including staffing justifications, governance structure, and PTDC’s prospective role in advancing the national tourism strategy, while considering ongoing consultancy studies and international investment initiatives.

The Committee reiterated that any reconsideration of previous decisions must be supported by a clear business case and aligned with the government’s broader reform and rightsizing agenda for state-owned enterprises, ensuring transparency and continuity in the process.

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