The Cabinet Committee on State-Owned Enterprises (CCoSOEs) met today at the Finance Division under the chairmanship of the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb.
The meeting was attended by the Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry (virtually), along with Secretaries and senior officials from the relevant ministries, divisions, and regulatory bodies.
The Committee reviewed and approved the Procurement Policy of the Export-Import (EXIM) Bank of Pakistan 2025, aimed at streamlining EXIM Bank’s procurement operations and is aligned with the State-Owned Enterprises Act, 2023, while ensuring compliance with Chartered Institute of Procurement and Supply (CIPS) global standards and PPRA regulations.
Additionally, the Committee reviewed and approved agenda items submitted by the Ministry of Commerce. These included the filling of one vacant position of Independent Director and appointment of Chairman of the Board of National Insurance Company Limited (NICL); filling of one vacant position of Independent Director on the Board of State Life Insurance Corporation (SLIC); and appointment of an Independent Director on the Board of the Trading Corporation of Pakistan (TCP) against one of two vacant positions.
The committee also reviewed a business plan submitted by the Ministry of Inter-Provincial Coordination regarding the Pakistan Tourism Development Corporation (PTDC), and approved retention of core function of PTDC in the form of a lean, right-sized “centre of excellence” to promote brand Pakistan, act as a face of Pakistan to the world and facilitate intergovernmental coordination, policy support, and marketing and brand development for tourism promotion, with a rationalized staff strength and a revised strength of the Board of Directors, in line with governance requirements. The committee also asked the Ministry to submit a separate proposal in coordination with the Law Division regarding the funding of the proposed entity and management of assets already under the PTDC.
