Finance Minister Muhammad Aurangzeb speaks during a Reuters interview at the 2025 annual IMF/World Bank Spring Meetings in Washington, DC, US, April 25, 2025. Photo: Reuters/ File
ISLAMABAD:
The government on Friday gave approval for filling the vacant positions of half a dozen state-owned entities, including the appointment of five new members of the board of Pakistan Television Corporation and a new chairman.
The decision was taken by the Cabinet Committee on State-Owned Enterprises (CCoSOEs), chaired by Finance Minister Muhammad Aurangzeb. The meeting was held in the light of instructions given by the Prime Minister’s Office to fill all the vacant positions in the government-controlled entities.
The committee considered and approved a number of important summaries presented by various ministries and divisions concerning governance reforms, board appointments and the categorisation of state-owned enterprises (SOEs) in line with the SOEs (Ownership and Management) Policy, 2023, according to an official statement.
The committee approved the summary of the Ministry of Information for the reconstitution of the board of the Pakistan Television Corporation (PTV). The reconstituted board is expected to reinforce corporate management and promote greater transparency in the operations of the national broadcaster, it added.
However, the summary lacked clarity on the appointment of a new chairman and it was decided that the chairman would be appointed in consultation with the information ministry. The committee approved the appointment of Yasir Qureshi, Dr Asghar Nadeem Syed, Tasneem Rehman, Khalid Mehmood Khan and Ishtiaq Baig as new members of the board. The meeting was informed that there are currently seven members on the board.
“One of these five new nominees for the board will be appointed as the chairman of PTV Corporation”, said Federal Minister for Information Attaullah Tarar. The minister said that all these people were professionally strong and apolitical personalities.
The cabinet committee approved the appointment of three new members on the board of Jinnah Medical Complex Company. Among the new members are former acting foreign minister Jalil Abbas Jilani, Akhtar Hussain Mayo and Muhammad Ali Tabba.
The government has set up a new company to establish the medical complex in Islamabad at an estimated cost of Rs213 billion. A Pakistan Administrative Service officer, Muhammad Mehmood, has been appointed CEO of the company. He has also remained the head of the government company managing power plants in Punjab.
The federal government has decided to retain the full ownership of Jinnah Medical Complex Company, which will operate in accordance with the provisions of the Companies Act, 2017, the State-Owned Enterprises (Governance and Operations) Act, 2023 and the State-Owned Enterprises (Ownership and Management) Policy, 2023.
The company has been established to design, construct and operate a state-of-the-art public sector hospital to provide affordable, free high-quality medical and healthcare services to the general public.
However, the company is facing funding constraints and the International Monetary Fund has not approved a government proposal to impose a new tax on people to raise funds for building the hospital. The project envisages the construction of a 1,000-bed tertiary care facility, organised into several supra-specialty Medical Centres of Excellence (CoEs). They said that, in response to Pakistan’s request, the IMF had asked for more details.
To fill the funding gap, the government was also considering using $76 million, or Rs21.5 billion, in expected proceeds from Panda bonds for funding the Jinnah Medical Complex. However, the finance ministry was insisting that Rs21.5 billion should be treated as part of the Rs1 trillion PSDP for the current fiscal year.
The cabinet committee approved a summary of the Ministry of Commerce regarding the reconstitution of the board of directors of State Life Insurance Corporation of Pakistan (SLIC) with the objective of enhancing corporate governance and ensuring effective management in line with the broader privatisation strategy, said the Ministry of Finance.
A summary of the Ministry of Housing and Works regarding the transition plan for the dissolution of National Construction Limited and Pakistan Environmental Planning and Architectural Consultants (Private) Limited (PEPAC) was also considered and approved. The plan outlines the framework for the efficient winding up of both entities and the management of their residual functions.
The committee approved another summary of the Ministry of Industries and Production concerning the reconstitution of the board of governors of the Pakistan Institute of Management (PIM), Karachi, aimed at improving professional and managerial training standards. Two summaries submitted by the Petroleum Division were also reviewed and approved, said the Ministry of Finance.
The committee approved the nomination of directors and members for casual vacancies on the boards of Inter-State Gas Systems Limited (ISGSL), Pakistan State Oil Company Limited, and the constitution of the board of directors of Sui Southern Gas Company Limited (SSGCL). The committee directed that all government nominees on the boards of SOEs must undergo the mandatory corporate governance training within six months before assuming their responsibilities.
The second summary of the Petroleum Division was related to the categorisation of its SOEs as strategic and essential entities. The committee discussed the matter and constituted a body chaired by the minister for petroleum and comprising the adviser on privatisation, secretary petroleum, secretary finance and secretary privatisation to review the proposals and present their recommendations.
