HomeBusinessCabinet Committee approves Power Division's proposal for nomination of independent directors

Cabinet Committee approves Power Division’s proposal for nomination of independent directors

ISLAMABAD, May 20 (APP): The Cabinet Committee on State-Owned Enterprises (CCoSOEs) approved on Monday the proposal of the Power Division for nomination of independent directors for certain electricity distribution companies for onward submission to the cabinet.
The meeting was chaired by the Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, said a news release.
The committee didn’t approve the proposal presented by the Ministry of Railways to categorize four Railway companies as strategic and essential and directed to submit a transformation plan for these four companies before the CCoSOEs.
The proposal of the Ministry of Science and Technology was deferred with the direction to submit a business plan to the committee regarding the reforms planned by the Ministry of Science and Technology for STEDEC.
While approving the proposal of Ministry of Information and Broadcasting, the CCoSOEs recognized the strategic nature of Pakistan Television Corporation (PTVC) and Pakistan Broadcasting Corporation (PBC) and directed the Ministry of Information and Broadcasting (MoIB) to present a viable business plan to the committee for efficient management of these enterprises.
The meeting was attended by Minister for Housing and Works Mian Riaz Hussain Pirzada, Minister for Power Sardar Awais Ahmad Khan Leghari, Minister for Maritime Affairs  Qaiser Ahmed Sheikh, Minister for Economic Affairs Ahad Khan Cheema, Chairman Security Exchange Commission of Pakistan (SECP), Federal Secretaries and other senior officers of the relevant ministries.
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