Pakistan’s cabinet committee on Monday approved a series of key appointments and the reconstitution of boards in major state-owned enterprises, officials said.
The meeting, chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, was attended by Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal, Federal Minister for Science and Technology Khalid Hussain Magsi, secretaries of relevant ministries and divisions, and senior officials. During the session, the committee reviewed proposals submitted by the Finance Division, Maritime Affairs Division, Petroleum Division, and Industries & Production Division.
Approved appointments included the Finance Division’s nomination of an independent director to the Zarai Taraqiati Bank Limited (ZTBL) Board. The Maritime Affairs Division secured appointments of independent directors to the Port Qasim Authority Board in Karachi, while the Petroleum Division filled a vacant seat on the Sui Northern Gas Pipelines Limited Board. The Industries & Production Division had three proposals approved, including the reconstitution of the Sindh Engineering (Private) Limited Board, the appointment of a private-sector member from Punjab to the SMEDA Board, and the formation of the State Engineering Corporation Board.
Minister Aurangzeb praised the rigorous selection process for independent directors from the private sector, stressing the importance of appointing qualified individuals with the necessary expertise, knowledge, and professional skills to these boards. He added that maintaining such a process was critical for strengthening governance in state enterprises.
The committee also instructed the Finance and Privatization Divisions to conduct a comprehensive review of pending cases related to privatization and to coordinate with relevant ministries and divisions to develop mechanisms that can facilitate smoother progress of the privatization process.
