SOEs scores Rs.31 billion profit in FY 2018-19

By Staff Reporter
Wednesday – September 8, 2021
ISLAMABAD: The cabinet was briefed, on Tuesday, that the state owned enterprises (SOEs) faced a loss of Rs 286 billion in fiscal year (FY) 2017-18 while as in FY 2018-19 the SOEs made a profit of Rs 31 billion, excluding the national highway authority (NHA).

According to a press release, prime minister (PM) Imran Khan chaired a meeting of the federal cabinet in the federal capital.

The implementation and economic reforms unit (IERU) of the finance division presented annual reports of SOEs for FY 2017-18 and FY 2018-19 before the cabinet.

It was briefed that this profit was the outcome of incumbent regime’s endeavours towards institutional reforms, timely and merit based appointments of SOE heads and board of directors (BoDs); and due to implementation of fiscal discipline.

The cabinet was informed that SOEs annual report for FY 2019-20 is being compiled and will be presented before the cabinet soon.

The cabinet approved appointment of Mariam Khawar as the chief executive officer (CEO) of Pakistan Expo Centres (Pvt) Ltd.

The science and technology minister and the advisor to PM on parliamentary affairs briefed the cabinet on updated status of electronic (E) voting machines (EVMs) and E-voting.

The cabinet approved appointment of Kamran Ali Afzal as Punjab chief secretary and Sardar Ali Khan as Punjab’s provincial police officer (PPO).

The cabinet reviewed security measures for the upcoming tour of New Zealand’s cricket team to Pakistan. Cabinet approved and directed to ensure foolproof security for the guest team.

The cabinet approved implementation of “Essential Services Act” upon employees of Pakistan Broadcasting Corporation (PBC).

In order to review cinema industry in the country, the cabinet directed to place proposals regarding import of non-Indian films before the cabinet.

The cabinet approved designation of seafarers as “Key Workers” in line with the resolutions passed by international maritime organisation (IMO).

The cabinet approved reduction in the maximum retail price (MRP) of 100 milligrams (mg) Remdesivir injection from Rs. 5,680/- to Rs. 3,967/- per vial.

The cabinet approved nomination of members of the National Council of Tibb (NCT).

The cabinet approved voluntary severance scheme and compulsory golden handshake schemes for the employees of Pakistan Medical Commission (PMC) under Pakistan Medical Commission Act, 2020.

The cabinet approved appointment of Shakeel Ahmed Mangnejo (PAS BS-21) as chairman of employees’ old age benefits institution (EOBI) for a period of one year. The Cabinet directed to expedite the process of appointment of a regular chairman.

The cabinet ratified the decisions taken by economic coordination committee (ECC) in its meeting held on Aug 31, 2021.

The cabinet ratified the decisions taken by cabinet committee on transport and logistics in its meeting held on September 1, 2021.

In light of Islamabad High Court (IHC) directions, the housing and works ministry presented recommendations before the cabinet regarding land acquisition and allotment policy wherein federal government employees housing authority (FEGHA) allots plots to federal government employees including judges.

PM Khan directed immediate discontinuation of the policy of allotment of second plot to BS-22 officers and superior judiciary judges under the guise of PM’s package as PM has no involvement in the process and it is done by FEGHA board.

He stated that acquiring land from poor people on low prices and then allotting it for the benefits of the elite is completely unethical.

PM Khan directed to enact laws to discourage such practices, if necessary.

He directed to constitute a committee comprising of planning and development minister, law minister, human rights minister, advisor to PM on parliamentary affairs and advisor to PM on interior for evaluating the recommendations presented by housing and works ministry.

The cabinet accorded approval for signing of intergovernmental protocol on establishment of joint security commission (JSC) between Pakistan and Uzbekistan.

The cabinet ratified the decisions taken by cabinet committee for disposal of legislative cases.

The cabinet approved appointment of four members of national industrial relations commission (NIRC).


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