The Ministry of Finance has requested compliance reports from relevant ministries concerning the adoption of business plans and the publication of Statements of Corporate Intent (SCI) for the 15 largest commercial State Owned Entities (SOEs). This move is in line with the SOEs Act, 2023, and SOEs Policy, 2023, which require all line ministries to develop and implement these plans within specified timelines.
The directive emphasizes that the business plans and SCIs are to be shared with the International Monetary Fund (IMF) as part of Pakistan’s commitments to development partners. The Central Monitoring Unit (CMU) will review these plans and provide recommendations to the Cabinet Committee on SOEs (CCoSOEs).
By the end of September 2024, the 15 largest commercial SOEs, categorized by assets, are expected to have adopted their business plans and published their SCIs on official websites. The Finance Ministry has instructed the concerned ministries to ensure these actions are completed promptly, with reports to be submitted directly to the CMU. This directive specifically includes entities like the National Power Parks Management, highlighting the importance of meeting the stipulated deadlines.
