CCoSOEs categorizes Trading Corporation of Pakistan as essential SOE

Cabinet Committee on State-Owned Enterprises has categorized Trading Corporation of Pakistan as an essential State-Owned Enterprise. In its meeting held today in Islamabad with Finance Minister Muhammad Aurangzeb in the chair, the committee decided that a detailed financial plan of the entity should be prepared, which should address the question of settlement of its liabilities. The meeting focused on various critical issues related to the management and strategic direction of key State-Owned Enterprises. A summary of Finance Division regarding the appointment of two Independent Directors on the Board of the Export-Import Bank of Pakistan was considered and approved. The committee endorsed the appointments of Ayesha Aziz and Imran Maqbool as Independent Directors on EXIM Bank's Board. A summary of Ministry of Industries and Production regarding the categorization of Small and Medium Enterprises Development Authority by CCoSOEs was also discussed. Keeping in view the importance of SMEDA for facilitation o f SMEs, it was categorized as Essential SOE. The Committee also deliberated on a summary from the Ministry of Maritime Affairs regarding the appointment of Independent Directors to the Pakistan National Shipping Corporation and recommend the appointment of the proposed independent directors to the cabinet. The forum also approved a proposal of the Ministry of Maritime Affairs to declare the Pakistan National Shipping Corporation as a Strategic SOE. Source: Radio Pakistan