ISLAMABAD: The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has approved key board appointments at Pakistan State Oil (PSO), the Strategic Digital Wallet Company and the Clean Environment Fund Company and deferred a proposal to establish the Pakistan Pharma Export Promotion Council for further consultations.
The Committee met under the chairmanship of Federal Minister for Finance and Revenue, Muhammad Aurangzeb, here on Monday. The meeting was also attended by Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry.
The cabinet body approved a summary submitted by the Petroleum Division regarding the nomination of a female Independent Director to the Board of Management of Pakistan State Oil Company Limited (PSO). It also approved the nomination of another Independent Member to the PSO Board of Management, as part of the process of reconstituting the Board following the expiry of its previous statutory term.
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The Committee considered a summary submitted by the Ministry of Commerce regarding the establishment of the Pakistan Pharma Export Promotion Council as a Section 42 company under the Companies Act, 2017, under the administrative control of the Trade Development Authority of Pakistan. The Committee deferred the proposal and directed the Ministry to undertake further consultations with relevant stakeholders before resubmitting it for consideration.
On a summary submitted by the Finance Division, the Committee approved the appointment of four Independent Directors to the Board of the Strategic Digital Wallet Company, established to manage, safeguard and administer Pakistan’s sovereign virtual assets.
The Committee also approved a summary submitted by the Ministry of Climate Change and Environmental Coordination regarding the activation of the Clean Environment Fund Company under the Pakistan Environmental Protection Agency, through the appointment of two ex-officio and three Independent Directors.
The Company is intended to support environmental protection, conservation, rehabilitation and improvement by facilitating the mobilisation and utilisation of resources for environmental initiatives.
Copyright Business Recorder, 2026