Finance Minister Reviews Major State-Owned Enterprise Reforms in CCoSOEs Meeting
The committee expressed disappointment over several SOEs’ delayed financial audits.
Islamabad— Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb today chaired a meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) at the Finance Division. The session was attended by federal ministers, including Science and Technology Minister Khalid Hussain Magsi, as well as secretaries and senior officials from relevant ministries and departments.
During the meeting, the committee approved the appointment of six independent directors each to the boards of Pakistan Television Corporation (PTVC) and Pakistan Broadcasting Corporation (PBC). Approved appointees for PTVC include Ishtiaq Baig, Yasir S. Qureshi, Dr. Asghar Nadeem Syed, Tasneem Rehman, Leyla Zuberi, and Khalid Mehmood Khan, while the PBC board will welcome Sadia Khan, Jehangir Khan, Sadiqa Sultan, Nasira Azim Khan, Khan Bibi, and Nadeem Haider Kiyani.
The committee also sanctioned the nominations of four independent directors for the Agro Food Processing Facilities board—Hasnain Nawaz Khan, Shahid Mehmood Sahu, Ahsan Mustafa Bajwa, and Ghulam Jaffar Junejo—and endorsed Hasnain Nawaz Khan as Chairman, alongside three ex‑officio members.
A major highlight of the meeting was the endorsement of the Pakistan National Shipping Corporation’s (PNSC) first-ever tailored procurement policy, praised as a milestone for state-owned enterprise reform.
Furthermore, the committee approved the acceptance of the PCCC Vice President’s resignation effective March 25, 2025. It also cleared the appointment of directors and members to the National Disaster Risk Management Fund (NDRMF) board, and granted Strategic Plans Division entities exemption from consolidated financial reporting and applicable provisions of the State‑Owned Enterprises Act and 2023 policy—citing operational sensitivity.
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Addressing governance concerns, the committee expressed disappointment over several SOEs’ delayed financial audits. It directed immediate action from these enterprises and instructed the SECP to investigate and report its findings with recommendations.
The meeting reaffirmed the government’s commitment to enhancing transparency, accountability, and performance across public enterprises.
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