Cabinet Committee Approves Key Vacancies in State-Owned Enterprises

The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has made significant decisions regarding the filling of key vacancies in various state-owned entities, including the Pakistan Television Corporation (PTV) and the Jinnah Medical Complex Company. The committee, chaired by Finance Minister Muhammad Aurangzeb, approved the reconstitution of PTV's board with five new members, including Yasir Qureshi, Dr. Asghar Nadeem Syed, Tasneem Rehman, Khalid Mehmood Khan, and Ishtiaq Baig. However, the appointment of a new chairman for PTV was deferred for further consultation with the Ministry of Information. The committee also approved the nomination of three new members to the board of Jinnah Medical Complex Company, including former acting foreign minister Jalil Abbas Jilani. The company is tasked with establishing a state-of-the-art hospital in Islamabad at an estimated cost of Rs213 billion. The government has opted to retain full ownership of the Jinnah Medical Complex Company.

The committee's decisions also included the reconstitution of the board of the State Life Insurance Corporation (SLIC) to improve corporate governance and management. The Ministry of Housing and Works received approval for a transition plan to dissolve two entities, National Construction Limited and Pakistan Environmental Planning and Architectural Consultants (PEPAC), and manage their residual functions. Additionally, the committee approved new nominations for casual vacancies on the boards of Inter-State Gas Systems Limited (ISGSL), Pakistan State Oil Company (PSO), and Sui Southern Gas Company (SSGCL). It was emphasized that all government nominees for SOE boards must undergo mandatory corporate governance training within six months.

Key Takeaways:

• The Cabinet Committee on State-Owned Enterprises approved the reconstitution of PTV's board with five new members, including Yasir Qureshi, Dr. Asghar Nadeem Syed, Tasneem Rehman, Khalid Mehmood Khan, and Ishtiaq Baig.
• The appointment of a new chairman for PTV was deferred for further consultation with the Ministry of Information.
• The committee approved the nomination of three new members to the board of Jinnah Medical Complex Company, including former acting foreign minister Jalil Abbas Jilani.
• The company is tasked with establishing a state-of-the-art hospital in Islamabad at an estimated cost of Rs213 billion.
• The government has opted to retain full ownership of the Jinnah Medical Complex Company.
• The committee reconstituted the board of the State Life Insurance Corporation (SLIC) to improve corporate governance and management.
• The Ministry of Housing and Works received approval for a transition plan to dissolve two entities, National Construction Limited and Pakistan Environmental Planning and Architectural Consultants (PEPAC), and manage their residual functions.
• The committee approved new nominations for casual vacancies on the boards of Inter-State Gas Systems Limited (ISGSL), Pakistan State Oil Company (PSO), and Sui Southern Gas Company (SSGCL).
• All government nominees for SOE boards must undergo mandatory corporate governance training within six months.

Statistics:

• The estimated cost of the Jinnah Medical Complex Company's hospital project is Rs213 billion.
• The committee reconstituted the boards of 6 state-owned entities, including PTV, Jinnah Medical Complex Company, and State Life Insurance Corporation (SLIC).
• The number of new members appointed to the boards of these entities is 9 (5 for PTV, 3 for Jinnah Medical Complex Company, and 1 for Jinnah Medical Complex Company).
• The government has opted to retain full ownership of the Jinnah Medical Complex Company.
• The committee emphasized that all government nominees for SOE boards must undergo mandatory corporate governance training within six months.

Sources:

• Geo News (no date)
• Dawn (no date)
• The News (no date)
• Business Recorder (no date)