Cabinet Committee Approves Re-Merger of NSPC with PSPC

Federal Minister for Finance Senator Muhammad Aurangzeb presided over a meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) at Finance Division today. The committee considered the summaries presented by Finance Division for the categorization of their relevant State-Owned Enterprises (SOEs) as strategic/ essential or otherwise. The committee approved the re-merger of National Security Printing Company (NSPC) with Pakistan Security Printing Corporation (PSPC), and directed the Ministry of Finance and SBP to complete the formalities and present the implementation plan before the Committee. The Cabinet Committee further approved that National Bank of Pakistan (NBP), being a part of Sovereign Welfare Fund, is exempted from SOE Act 2003, hence not required to be categorized, whereas EXIM Bank be categorized as Essential SOE. The meeting was attended by Minister for Housing & Works Mian Riaz Hussain Pirzada, Minister for Maritime Affairs Qaiser Ahmed Sheikh, Minister for Economic Afairs Ahad Khan Cheema, Governor SBP, Chairman SECP, and other senior officers of the relevant ministries.