ISLAMABAD: The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has approved the closure of two state-owned entities and ratified the appointment of boards of directors for several other government departments, as part of ongoing institutional reforms and restructuring efforts.

The meeting, chaired by Finance Minister Muhammad Aurangzeb, approved a summary from the Ministry of Housing and Works on the transition plan for the dissolution of National Construction Ltd and Pakistan Environmental Planning and Architectural Consultants (Private) Limited (PEPAC).

An official announcement from the Ministry of Finance issued on Friday said that the plan provides a comprehensive framework for the efficient winding-up of both entities and the management of their residual functions.

The committee also reviewed and approved several key summaries submitted by various ministries and divisions, focusing on governance reforms, board appointments, and the classification of state-owned enterprises (SOEs) in accordance with the SOEs (Ownership and Management) Policy 2023.

Cabinet panel ratifies new boards for PTV, State Life and PIM

The committee approved a summary from the Ministry of National Health Services, Regulations and Coordination for the appointment of independent directors to the Board of Jinnah Medical Complex and Research Centre Company Ltd, aimed at improving governance and oversight.

The committee also endorsed a summary from the Ministry of Commerce for the reconstitution of the board of directors of the State Life Insurance Corporation of Pakistan to strengthen corporate governance and support effective management in line with the broader privatisation roadmap for the organisation.

The meeting approved a summary submitted by the Ministry of Industries and Production for the reconstitution of the board of governors of the Pakistan Institute of Management (PIM), Karachi, to enhance professional and managerial training standards.

Additionally, a summary from the Ministry of Information and Broadcasting for the reconstitution of the Board of Pakistan Television Corporation (PTVC) received approval.

The move aims to strengthen corporate governance and foster greater transparency in the state broadcaster’s operations.

The committee reviewed and approved two key summaries submitted by the Petroleum Division. The first summary addressed the nomination of directors and appointments to fill casual vacancies on the Boards of Inter-State Gas Systems Ltd, Pakistan State Oil Company Ltd and the reconstitution of the board of directors of Sui Southern Gas Company Ltd.

The committee directed that all government-nominated directors on SOE boards must complete mandatory corporate governance training within six months before assuming their roles.

The second summary concerned the classification of petroleum-sector state-owned enterprises as strategic and essential. Following detailed discussion, the committee formed a sub-committee — chaired by the Minister for Petroleum and comprising the Prime Minister’s Advisor on Privatisation and Secretaries of Petroleum, Finance, and Privatisation — to examine the proposals and report back with recommendations.

Published in Dawn, October 25th, 2025