NBP and Exim Bank exempted from SOE Act 2003
The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has granted an exemption to the National Bank of Pakistan (NBP) from the provisions of the SOE Act 2003.
This exemption means that NBP, being part of the Sovereign Welfare Fund, will not be classified under this act. In contrast, the Committee has designated the EXIM Bank as an Essential State-Owned Enterprise (SOE).
Read More World
Bank concerned over obstacles in privatization of Pakistan’s State Owned Entities
(SOEs)
The CCoSOEs reviewed additional summaries from the Finance Division regarding the categorization of various SOEs as either strategic or essential.
In a related decision, the Committee approved the re-merger of the National Security Printing Company (NSPC) with the Pakistan Security Printing Corporation (PSPC). It has instructed the Ministry of Finance and the State Bank of Pakistan (SBP) to finalize the necessary procedures and present an implementation plan to the Committee.
Read More NBP
President expresses interest in establishing first branch in China
The meeting, chaired by Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb, was attended by Minister for Housing & Works Mian Riaz Hussain Pirzada, Minister for Maritime Affairs Qaiser Ahmed Sheikh, Minister for Economic Affairs Mr. Ahad Khan Cheema, the Governor of SBP, the Chairman of SECP, and other senior officials from relevant ministries.
Source: Mettis Global