PR No. 35 Islamabad:: August 05, 2024

The Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb presided over a meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) at Finance Division today. The meeting was attended by Minister for Housing & Works Mian Riaz Hussain Pirzada, Minister for Maritime Affairs Mr. Qaiser Ahmed Sheikh, Minister for Economic Afairs Mr. Ahad Khan Cheema, Governor SBP, Chairman SECP, and other senior officers of the relevant ministries. 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 on SOEs approved the re-merger of National Security Printing Company (NSPC) with Pakistan Security Printing Corporation (PSPC), and directed the Ministry of Finance and SBP to complete the formalities and present the implementation plan before the Committee. 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.

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