Islamabad, 10 November, 2026 (Ghufran): The Cabinet Committee on State-Owned Enterprises (CCoSOEs) has approved proposals regarding the appointment of a chairman/independent director at National Engineering Services Pakistan (NESPAK), the reconstitution of the board of Hyderabad Electric Supply Company (HESCO), and the appointment of an independent director to the board of Sukkur Electric Power Company (SEPCO). The decisions were taken during a committee meeting chaired by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb at the Finance Division. Minister for Science and Technology Khalid Hussain Magsi, relevant federal secretaries and senior officials from various ministries, divisions and regulatory bodies also attended the meeting. According to the Finance Division, the committee approved both proposals after detailed deliberations. The finance minister stressed that government representatives serving as ex-officio directors on the boards of state-owned enterprises should be competent, experienced and appropriately positioned, with a sound understanding of their respective institutions to ensure effective representation. The decisions are part of the government’s broader efforts to strengthen corporate governance, improve institutional oversight and enhance the operational efficiency of state-owned enterprises, particularly power distribution companies. The government has been working to reform the boards of distribution companies following concerns over financial losses, weak governance and political interference. In June 2024, the government initiated steps to replace the boards of loss-making power distribution companies, while the State-Owned Enterprises (Governance and Operations) Amendment Bill, 2024, was subsequently passed by the Senate in July. The legislation aimed to strengthen the independence and effectiveness of SOE boards through a formal mechanism for appointing independent directors and establishing criteria for their tenure and removal.