ISLAMABAD: The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has approved the Export-Import (EXIM) Bank of Pakistan’s Procurement Policy 2025, a move intended to modernize and streamline the bank’s procurement processes in line with the State-Owned Enterprises Act, 2023.
The meeting was chaired by Federal Minister for Finance and Revenue Muhammad Aurangzeb and attended by Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry (virtually), along with secretaries and senior officials from concerned ministries, divisions, and regulatory authorities.
The committee endorsed the EXIM Bank’s procurement framework, noting that it aligns with global best practices, including the Chartered Institute of Procurement and Supply (CIPS) standards, while also ensuring compliance with Public Procurement Regulatory Authority (PPRA) rules.
In addition, the committee considered and approved several proposals from the Ministry of Commerce. These included the appointment of a chairman and an independent director to the Board of the National Insurance Company Limited (NICL), the induction of an independent director to the Board of the State Life Insurance Corporation (SLIC), and the appointment of an independent director to the Board of the Trading Corporation of Pakistan (TCP) against one of its vacant positions.
The CCoSOEs also reviewed a business plan submitted by the Ministry of Inter-Provincial Coordination concerning the Pakistan Tourism Development Corporation (PTDC). The committee approved retaining PTDC’s core functions through a lean, right-sized structure envisioned as a “centre of excellence” to promote Brand Pakistan, represent the country internationally, and support intergovernmental coordination, tourism policy, marketing, and brand development. This restructuring includes a rationalized workforce and a revised Board of Directors in line with governance standards.
Furthermore, the committee directed the ministry to submit a separate proposal, in consultation with the Law Division, to address funding arrangements for the proposed entity and the management of assets currently held by PTDC.
