CCoSOEs Approves Categorization Of NHA, Pakistan Post

The Cabinet Committee on State-Owned Enterprises (CCoSOEs) on Thursday approved categorization of the National Highway Authority (NHA) and Pakistan Post Office besides approving other proposals

ISLAMABAD, (UrduPoint / Pakistan Point News - 12th Sep, 2024) The Cabinet Committee on State-Owned Enterprises (CCoSOEs) on Thursday approved categorization of the National Highway Authority (NHA) and Pakistan Post Office besides approving other proposals.

According to press release issued by finance division, Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb chaired the CCoSOEs meeting.

The meeting was attended by Minister for Housing and Works, Mian Riaz Hussain Pirzada; Minister for Economic Affairs, Ahad Khan Cheema; Minister for Petroleum, Awais Ahmed Leghari; Governor State Bank of Pakistan (SBP), Chairman of the Securities and Exchange Commission of Pakistan (SECP), Additional Attorney General for Pakistan, Deputy Chairman of the Planning Commission, Federal Secretaries, and senior officers from relevant ministries and departments.

According to the statement, the Ministry of Communications presented a proposal regarding the categorization of NHA as an essential State-Owned Enterprise (SOE) under Paragraph 9 of the SOEs Policy 2023, due to NHA's involvement and its critical role in implementing government policies with significant security, social, and economic impacts.

After careful consideration, the Cabinet Committee on State-Owned Enterprises (CCoSOEs) approved the proposal, categorizing the NHA as an essential SOE.

The Ministry of Communications also proposed the categorization of the Pakistan Post Office Department (PPOD) as a strategic and essential State-Owned Enterprise (SOE) under Paragraph 9 of the SOEs (Ownership and Management) Policy, 2023.

The proposal was reviewed in the light of the justifications presented by Ministry of Communications, and was approved by the CCoSOEs.

The Ministry of Defence Production submitted a proposal regarding the strategic categorization of Defence Production Establishments, including entities like Pakistan Ordnance Factories (POF), Heavy Industries Taxila (HIT), Pakistan Aeronautical Complex (PAC), Karachi Shipyard & Engineering Works (KS&EW), National Radio Telecommunication Corporation (NRTC), and Telephone Industries of Pakistan (TIP).

These establishments are engaged in national security and defence-related activities that fulfill the operational requirements of the Armed Forces. The proposal was approved for further submission to the Cabinet for final approval.

The Ministry of Energy (Power Division) presented a proposal for the reconstitution of the Boards of Directors of the Central Power Purchasing Agency Guarantee Ltd (CPPA-G), Power Planning and Monitoring Company (PPMC), and Power Information Technology Company (PITC).

The proposal included the nomination of Independent Directors, Ex-Officio Directors, and the Chairman for each of these Boards. After consideration, the CCoSOEs approved the nominations, thereby reconstituting the Boards of CPPA-G, PPMC, and PITC.

The Ministry of Water Resources submitted a proposal to categorize the Water and Power Development Authority (WAPDA) as a strategic or essential SOE.

After deliberation, the Committee decided to categorize WAPDA as an essential SOE. It was further directed that WAPDA align its governing Act in consonance with the SOEs Act.

The meeting concluded with the Committee emphasizing the importance of strategic oversight and effective governance of State-Owned Enterprises to ensure their contribution to national development objectives.