Pakistan has decided to make important changes in government institutions, approving new independent directors for the digital wallet company and Pakistan State Oil.
The Cabinet Committee on State-Owned Enterprises has approved the appointment of new independent directors to the boards of Pakistan State Oil (PSO) and the Strategic Digital Wallet Company.
On the summary of the Ministry of Finance, four independent directors have been approved for the board of the Strategic Digital Wallet Company. The company has been established to manage, protect and oversee Pakistan’s sovereign virtual assets.
On the other hand, on the summary of the Ministry of Petroleum, the nomination of two additional independent members, including a female independent director, has been approved for the Board of Management of PSO. This step is part of the process of reconstituting PSO’s board, as the legal tenure of the previous board had expired.
The meeting also approved a proposal from the Ministry of Climate Change and Environmental Coordination, under which the Clean Environment Fund Company will be made operational under the Pakistan Environmental Protection Agency. Two ex-officio directors and three independent directors will be appointed to manage the company.
However, the proposal to establish the Pakistan Pharma Export Promotion Council was deferred. The Ministry of Commerce has been directed to resubmit the proposal after further consultation with the relevant stakeholders.
These decisions are part of government measures aimed at changes in the administrative structures of state-owned enterprises and the management of digital assets.
