Cabinet greenlights merger of 82 state-owned enterprises

Business Aug, 29 2024
Cabinet greenlights merger of 82 state-owned enterprises
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ISLAMABAD: Cabinet has approved recommendations submitted by Rightsizing of the Federal Government Committee for the merger and dissolution of 82 State-Owned Enterprises (SOEs).

Cabinet, which met here with Prime Minister Shehbaz Sharif in chair, assenting to recommendations, also constituted committee to protect interests of employees, who will be affected by merger and dissolution of various departments.These 82 entities are being transformed into robust institutions through digitisation, smart management, efficient governance, transparency and swift implementation to provide better facilities to common man. Cabinet was informed that in first phase, enforcement of committee's recommendations has begun in six ministries. This will help improve government performance, correct use of human capital and policymaking as well as end unnecessary delays in implementation of decisions. Cabinet was briefed that savings worth one hundred and thirty million dollars have been made by stopping import of Urea and providing uninterrupted gas supply to urea factories.

Prime Minister appreciated decisions taken by Ministries of Finance, Energy and National Food Security to ensure provision of an unhindered supply of urea fertilizer during upcoming Rabi crop season. Cabinet was also given detailed briefing on implementation of austerity measures as per vision of Shehbaz Sharif to reduce government expenditure. Cabinet approved continuation of austerity measures which include voluntary waiver of salary by members, ban on purchase of government vehicles other than essential vehicles such as ambulances, ban on purchase of new equipment and machinery, creation of new government posts, unnecessary travel abroad at government expense and ban on medical treatments abroad.

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