The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has approved several appointments to state-owned company boards, including Pakistan State Oil (PSO) and a strategic digital wallet company.
The committee met at the Finance Division under the chairmanship of Finance Minister Muhammad Aurangzeb. Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry also attended.
The committee approved the nomination of a female independent director and another independent member to PSO’s board of management. The appointments follow the expiry of the board’s previous statutory term.
It also approved the appointment of four independent directors to the board of the Strategic Digital Wallet Company, which was established to manage and safeguard Pakistan’s sovereign virtual assets.
In a separate decision, the committee approved the activation of the Clean Environment Fund Company under the Pakistan Environmental Protection Agency. The move includes the appointment of two ex-officio directors and three independent directors.
The Company is intended to support environmental protection, conservation, rehabilitation and improvement by facilitating the mobilization and utilization of resources for environmental initiatives.
However, the committee deferred a proposal to establish the Pakistan Pharma Export Promotion Council as a not-for-profit company under Section 42 of the Companies Act 2017.
The proposed council would operate under the administrative control of the Trade Development Authority of Pakistan.
The Committee deferred the proposal and directed the Ministry of Commerce to undertake further consultations with relevant stakeholders before resubmitting it for consideration.
