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ISLAMABAD: The Cabinet Committee on State-Owned Enterprises (CCoSOEs), led by Finance Minister Senator Muhammad Aurangzeb, approved a slate of key board appointments in several major Pakistani SOEs during its meeting in Islamabad on Monday.
The committee endorsed the appointment of an independent director to Zarai Taraqiati Bank Limited (ZTBL). It also cleared new independent directors for the Port Qasim Authority, Karachi, and approved a nomination to fill a casual vacancy on the board of Sui Northern Gas Pipelines Limited (SNGPL).
On the industrial front, CCoSOEs approved the reconstitution of the boards for Sindh Engineering (Pvt.) Limited (SEL) and the State Engineering Corporation (SEC). It also backed the appointment of a private-sector member from Punjab to the board of the Small and Medium Enterprises Development Authority (SMEDA).
Senator Aurangzeb praised the careful vetting of candidates, noting the government’s continued preference for experienced private-sector professionals to strengthen governance at SOEs.
The committee also directed the Finance Division and the Privatization Division to carry out a comprehensive review of pending litigation in SOEs slated for privatization. They are to coordinate with relevant ministries and the Law Division to develop strategies to resolve these cases ahead of privatization.
This move comes amid broader reform efforts, as the government works to streamline SOE governance and accelerate its privatization agenda.
