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Review of SOZ Policy 2023 implementation

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Review of SOZ Policy 2023 implementation

Federal Finance Minister Aurangzeb – file photo

Under the chairmanship of Federal Finance Minister Aurangzeb, the Cabinet Committee on State-Owned Enterprises has held a meeting in which the implementation of the SOZ Policy 2023 was reviewed.

According to the statement of the Ministry of Finance, the financial and operational performance of SOEs was regularly reviewed in the meeting, in this regard, the relevant ministries were directed to submit proposals for the classification of their respective SOEs by May 20. The aim is to examine the justification for maintaining commercial work in the public sector.

The declaration states that only the essential functions should be maintained in the public sector, the rest should be handed over to the private sector, the institutions that are owned by the public sector should be made more competitive and accountable, the public institutions should be responsive to the needs of the citizens. Must be accountable.

In the meeting, the ongoing work of the Central Monitoring Unit of the Finance Division on the annual financial report of the Federal SOs was reviewed.

In the meeting, the committee was briefed about the performance of SOAs during the reporting period.

Federal Minister of Finance Aurangzeb directed that the various shortcomings in the governance and financial management of the companies should be removed, the vacancies of BODs should be filled without delay, the accounts of the companies whose accounts have not been independently audited should be completed immediately. The agenda of restructuring and privatization of SOs should be accelerated for better performance.

According to the announcement of the Ministry of Finance, it has been directed that the Central Monitoring Unit should finalize and publish the SOZ policy report, promote transparency, efficiency and sustainable development within government institutions, ensure optimal utilization of resources. .

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