Cabinet exempts NBP from SOE Act 2003, labels EXIM Bank essential

August 06, 2024 (MLN): The Cabinet Committee on State-Owned Enterprises (CCoSOEs) yesterday approved that the National Bank of Pakistan (NBP), being a part of the Sovereign Welfare Fund, is exempted from SOE Act 2003, hence not required to be categorized, whereas EXIM Bank be categorized as Essential SOE.

The Committee considered more summaries presented by Finance Division for the categorization of their relevant SOEs as strategic/ essential or otherwise.

The Cabinet Committee on SOEs approved the re-merger of the National Security Printing Company (NSPC) with Pakistan Security Printing Corporation (PSPC).

Accordingly, it directed the Ministry of Finance and State Bank of Pakistan (SBP) to complete the formalities and present the implementation plan before the Committee.

 The Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb presided over a meeting of the CCoSOEs at Finance Division.

The meeting was also attended by Minister for Housing & Works Mian Riaz Hussain Pirzada, Minister for Maritime Affairs Qaiser Ahmed Sheikh, Minister for Economic Afairs Mr. Ahad Khan Cheema, Governor SBP, Chairman SECP, and other senior officers of the relevant ministries.

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