A meeting of the Cabinet Committee on State-Owned Enterprises (SOEs), chaired by Finance Minister Muhammad Aurangzeb, approved several major decisions regarding board appointments and corporate reforms.
The committee granted approval for the board members of the Thar Coal Railway Connectivity Project, adding four independent and three government representatives to the SPV board.
It also approved the dissolution of Sarmaya Pakistan Limited, which was deemed unnecessary following SOE reforms.
The board of Pakistan LNG Limited was reconstituted, while matters concerning the board of Pakistan Petroleum Limited were forwarded to the cabinet for further consideration.
New boards for HESCO and SEPCO were also approved. Additionally, the appointment of an independent director at the Trading Corporation of Pakistan and the designation of Yusuf Khan as trustee at the Karachi Port Trust were confirmed.
The committee deferred the decision regarding IFRS exemptions for Sui Northern Gas Pipelines Limited and Sui Southern Gas Company.
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