Cabinet Committee On State-Owned Enterprises (CCoSOEs) Approve Re-merger Of NSPC,PSPC

Sumaira FH Published August 05, 2024 | 09:09 PM

The Cabinet Committee on State-Owned Enterprises (CCoSOEs) on Monday approved the re-merger of National Security Printing Company (NSPC) with Pakistan Security Printing Corporation (PSPC)

ISLAMABAD, (UrduPoint / Pakistan Point News - 5th Aug, 2024) The Cabinet Committee on State-Owned Enterprises (CCoSOEs) on Monday approved the re-merger of National Security Printing Company (NSPC) with Pakistan Security Printing Corporation (PSPC).

Federal Minister for Finance and Revenue Muhammad Aurangzeb chaired the meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs), said a press release issued here.

The Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb presided over a meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) at Finance Division.

The meeting was attended by Minister for Housing and Works Mian Riaz Hussain Pirzada, Minister for Maritime Affairs Qaiser Ahmed Sheikh, Minister for Economic Afairs Ahad Khan Cheema, Governor SBP, Chairman SECP, and other senior officers of the relevant ministries.

The Cabinet Committee on SOEs directed the Ministry of Finance and State Bank of Pakistan (SBP) to complete the formalities and present the implementation plan before the Committee in this regards.

The Committee considered the summaries presented by Finance Division for the categorization of their relevant State-Owned Enterprises (SOEs) as strategic/ essential or otherwise.

The Cabinet Committee further approved that National Bank of Pakistan (NBP), being a part of Sovereign Welfare Fund, is exempted from SOE Act 2003, hence not required to be categorized, whereas EXIM Bank be categorized as Essential SOE.