CCoSOEs approves NSPC-PSPC re-merger

By MG News | Category Economy | August 05, 2024 at 09:56 PM GMT+05:00

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August 05, 2024 (MLN): The Cabinet Committee on State-Owned Enterprises (CCoSOEs) on Monday approved the re-merger of National Security Printing Company (NSPC) with Pakistan Security Printing Corporation (PSPC), and directed the ministry of finance and State Bank of Pakistan 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 today, said a press release issued.

The committee considered the summaries presented by finance division for the categorization of their relevant State-Owned Enterprises (SOEs) as strategic/essential or otherwise.

The cabinet committee further approved that National Bank of Pakistan (NBP), being a part of Sovereign Welfare Fund, is exempted from SOE Act 2003, hence not required to be categorized, whereas EXIM Bank be categorized as Essential SOE.

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