Govt Approves Important Board Appointments for 3 Companies
In practice, the federal administration on Tuesday approved new board appointments at three state-owned organisations: National Engineering Services Pakistan (NESPAK), Hyderabad Electric Supply Business (HESCO) and Sukkur Electric Power Firm (SEPCO).
In practice, the federal administration on Tuesday approved new board appointments at three state-owned organisations: National Engineering Services Pakistan (NESPAK), Hyderabad Electric Supply Business (HESCO) and Sukkur Electric Power Firm (SEPCO).
Article outline
- What happened
- Official response
- The bottom line
Key points
- The decisions were taken at a session of the Cabinet Committee on State-Owned Enterprises (CCoSOEs), chaired by Finance Minister Muhammad Aurangzeb at the Finance Division.
- Federal Minister for Science and Technology Khalid Hussain Magsi attended the session, along with federal secretaries and senior office-holders from relevant ministries, administration divisions and regulatory bodies.
- The committee approved the appointment of a Chairman/Independent Director at NESPAK and the reconstitution of HESCO's Board of Directors.
- During the session, Aurangzeb stressed that administration authorities serving as ex-officio directors on the boards should have the relevant qualifications, experience and understanding of their respective institutions.
- Obtain the latest business news, market insights, and economic updates wherever you prefer.
Notably, the decisions were taken at a session of the Cabinet Committee on State-Owned Enterprises (CCoSOEs), chaired by Finance Minister Muhammad Aurangzeb at the Finance Division.
In practice, the committee approved the appointment of a Chairman/Independent Director at NESPAK and the reconstitution of HESCO's Board of Directors. Pakistan Gets More Time to Pay Back Debt.
It additionally cleared the appointment of an independent director to SEPCO's board.
He remarked these representatives should be capable of effectively representing their divisions and contributing to the organisations' governance. Stay Connected with ProPakistani.
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Taken together, the developments around govt Approves Important Board Appointments for 3 Companies point to a situation that is still moving, and the coming days should bring more clarity.
