CCoSOEs greenlights PNSC board restructuring, PSO agreement

June 19, 2026 (MLN): The Cabinet Committee on State-Owned Enterprises Cabinet Committee on State-Owned Enterprises approved a series of governance and board-related decisions on state entities during a meeting held at the Finance Division under the chairmanship of Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb.

The meeting 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 relevant ministries, divisions, regulatory bodies, and state-owned enterprises.

The Committee approved the appointment of Independent Directors on the Board of the Pakistan National Shipping Corporation, as proposed by the Maritime Affairs Division.

The approval was granted after detailed deliberations and in accordance with the provisions of the State-Owned Enterprises (Governance and Operations) Act, 2023 and the applicable governance framework.

It also considered and approved a summary submitted by the Power Division regarding the Public Service Obligation (PSO) Agreement in respect of the WX-DISCOs.

The approval is aimed at timely formalisation of public service obligations in line with agreed terms and conditions between the Government of Pakistan and international financial institutions.

Separately, the Committee reviewed and approved a summary presented by the Science and Technology Division regarding the appointment of Directors on the Board of the Indigenous Research and Development Agency, an entity established in January this year to lead quality research in the fields of defence, industry, and academia.

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