Independent directors for Discos approved

ISLAMABAD: The Cab­inet Committee on State-Owned Enterprises (CCo­SOEs) made a significant decision on Monday, appro­ving the Power Divis­ion’s proposal for the nomination of independent directors for specific electricity distribution companies.

This decision, which is now set for onward submission to the cabinet, is very important for the future of these companies.

The committee meeting, chaired by Finance Min­ister Muhammad Aura­ngzeb, didn’t approve the Ministry of Railways’ proposal to categorise four railway companies as strategic and essential and directed it to submit a transformation plan.

The Ministry of Science and Technology proposal was deferred with the direction to submit a business plan regarding the reforms planned for STEDEC.

While approving the proposal of Ministry of Info­rmation and Broadcasting, the CCoSOEs recognised the strategic nature of Paki­stan Television Corporation and Pakistan Broa­d­casting Corporation and directed the Ministry of Information and Broad­casting 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, SECP chairman, federal secre­taries and other senior officers of the relevant ministries.

Published in Dawn, May 21st, 2024