CCoSOEs approves independent director nominations for power companies

May 21, 2024 (MLN): The Cabinet Committee on State-Owned Enterprises (CCoSOEs) approved a proposal from the Power Division on Monday for the nomination of independent directors for several electricity distribution companies.

The nominations will be submitted to the cabinet for further approval.

On the other hand, the committee didn't approve the proposal presented by the Ministry of Railways to categorize four Railway companies as strategic and essential and directed to submit a transformation plan for these four companies before the CCoSOEs.

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

While approving the proposal of Ministry of Information & Broadcasting, the CCoSOEs recognized the strategic nature of Pakistan Television Corporation (PTVC) and Pakistan Broadcasting Corporation (PBC) and directed the Ministry of Information & Broadcasting (MoIB) to present a viable business plan to the committee for efficient management of these enterprises.

The Federal Minister for Finance & Revenue, Senator Muhammad Aurangzeb also presided over a meeting of the CCoSOEs along with other government officials.

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