Cabinet Committee Approves Power Division’s Proposal For Nomination Of Independent Directors

The Cabinet Committee on State-Owned Enterprises (CCoSOEs) approved the Power Division’s proposal for the nomination of independent directors for certain electricity distribution companies on Monday, for onward submission to the cabinet.

The meeting was chaired by the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, according to a news release.

The committee did not approve the Ministry of Railways’ proposal to categorize four railway companies as strategic and essential. Instead, it directed the ministry to submit a transformation plan for these companies before the CCoSOEs.

The proposal from the Ministry of Science and Technology was deferred, with instructions to submit a business plan regarding the reforms planned for STEDEC.

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

The meeting was attended by Minister for Housing and Works Mian Riaz Hussain Pirzada, Minister for Power Sardar Awais Ahmad Khan Leghari, Minister for Maritime Affairs Qaiser Ahmed Sheikh, Minister for Economic Affairs Ahad Khan Cheema, the Chairman of the Securities and Exchange Commission of Pakistan (SECP), Federal Secretaries, and other senior officers from the relevant ministries.