September 11, 2024 (MLN): The Cabinet Committee on State-Owned Enterprises (CCoSOEs) on Thursday approved the nominations of Independent Directors, Ex-Officio Directors, and Chairmen for reconstituting the Boards of the Central Power Purchasing Agency Guarantee Ltd (CPPA-G), Power Planning and Monitoring Company (PPMC), and Power Information Technology Company (PITC).
The summary of the aforementioned agenda was tabled by the Ministry of Energy (Power Division) during the meeting.
Moreover, the Ministry of Communications presented a proposal regarding the categorization of the National Highway Authority (NHA) as an essential State-Owned Enterprise (SOE) under Paragraph 9 of the SOEs Policy 2023, due to NHA's involvement and its critical role in implementing government policies with significant security, social, and economic impacts.
After careful consideration, the Cabinet Committee on State-Owned Enterprises (CCoSOEs) approved the proposal, categorizing the NHA as an essential SOE.
The Ministry of Communications also proposed the categorization of the Pakistan Post Office Department (PPOD) as a strategic and essential State-Owned Enterprise (SOE) under Paragraph 9 of the SOEs (Ownership and Management) Policy, 2023.
The proposal was reviewed in the light of the justifications presented by Ministry of Communications, and was approved by the CCoSOEs.
The Ministry of Defence Production submitted a proposal regarding the strategic categorization of Defence Production Establishments, including entities like Pakistan Ordnance Factories (POF), Heavy Industries Taxila (HIT), Pakistan Aeronautical Complex (PAC), Karachi Shipyard & Engineering Works (KS&EW), National Radio Telecommunication Corporation (NRTC), and Telephone Industries of Pakistan (TIP).
These establishments are engaged in national security and defence-related activities that fulfill the operational requirements of the Armed Forces. The proposal was approved for further submission to the Cabinet for final approval.
The Ministry of Water Resources submitted a proposal to categorize the Water and Power Development Authority (WAPDA) as a strategic or essential SOE. After deliberation, the Committee decided to categorize WAPDA as an essential SOE.
It was further directed that WAPDA align its governing Act in consonance with the SOEs Act.
The meeting concluded with the Committee emphasizing the importance of strategic oversight and effective governance of State-Owned Enterprises to ensure their contribution to national development objectives.
The Federal Minister for Finance & Revenue, Senator Muhammad Aurangzeb, presided over the CCoSOEs meeting in which these decisions were made.
Copyright Mettis Link News
Posted on: 2024-09-12T17:59:51+05:00
