SRBC excluded from strategic category, privatization considered

December 24, 2024 (MLN): The Cabinet Committee reaffirmed its decision that Shalimar Recording and Broadcasting Company Limited (SRBC) will not be classified as strategic or essential and reviewed a Ministry of Information and Broadcasting (MoIB) proposal on privatizing SRBC or exploring a Public-Private Partnership (PPP) model.

The aforementioned discussion was held during the meeting between Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb and the Cabinet Committee on State-Owned Enterprises (CCoSOEs) at the Finance Division today.

The MoIB will be required to abide by the Cabinet’s earlier decision regarding non-essential and non-strategic SOEs, the press release issued today.

In addition, the Committee reviewed the implementation status of decisions previously taken regarding various SOEs under the agendas of the Cabinet Division, Ministry of Information and Broadcasting, Ministry of Petroleum, Ministry of Railways, and Revenue Division.

A presentation was given highlighting the six cases currently under implementation across these ministries, with two cases pertaining to the Cabinet Division and one each for the others.

The review emphasized ensuring the timely execution of all decisions.

The meeting was attended by the Minister for Planning, Development and Special Initiatives, Mr. Ahsan Iqbal Chaudhry; Minister for Housing and Works, Mian Riaz Hussain Pirzada; Minister for Maritime Affairs, Mr. Qaiser Ahmed Sheikh; Governor State Bank of Pakistan (SBP); Chairman Securities and Exchange Commission of Pakistan (SECP); Federal Secretaries; and senior officers from the Finance Division.

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