The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has approved the appointment of four independent directors to the Board of the Strategic Digital Wallet Company, which will manage, safeguard, and administer Pakistan’s sovereign virtual assets. The committee met on Monday under the chairmanship of Finance Minister Senator Muhammad Aurangzeb, with Maritime Affairs Minister Muhammad Junaid Anwar Chaudhry also in attendance.
The committee also approved the nomination of two independent members to the Board of Management of Pakistan State Oil (PSO), including a female director, as part of the board’s reconstitution following the expiry of its previous statutory term.
However, it deferred a proposal to establish the Pakistan Pharma Export Promotion Council as a Section 42 company under the Companies Act, 2017, directing the Ministry of Commerce to consult relevant stakeholders before resubmitting it.
Separately, the committee approved 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 will support environmental protection, conservation, rehabilitation, and improvement by helping mobilise and utilise resources for environmental initiatives.