Islamabad, October 11, 2024: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb presided over a crucial meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) today at the Finance Division. The meeting focused on enhancing the management and categorization of state-owned entities to improve their efficiency and effectiveness.
A significant agenda item was the proposal from the Ministry of Planning, Development and Special Initiatives to categorize the National Disaster Risk Management Fund (NDRMF) as a strategic State-Owned Enterprise (SOE). The NDRMF, a non-profit organization dedicated to enhancing resilience against natural disasters, was reviewed in detail by the committee. After careful consideration, members unanimously agreed to classify the fund as an essential SOE under the provisions of the SOEs (Ownership and Management) Policy, 2023.
In addition to this key decision, the committee approved two proposals submitted by the Industries and Production Division. These proposals pertained to the appointment of new members to the Board of Directors for both the Pakistan Industrial Development Corporation (PIDC) and the Pakistan Steel Fabricating Company Limited.
The decisions made during this meeting are expected to bolster the operational frameworks of these critical entities, paving the way for improved governance and better service delivery in their respective sectors. Minister Aurangzeb emphasized the importance of strategic oversight in state-owned enterprises to ensure they align with national economic goals and effectively contribute to public welfare.
