ISLAMABAD: Minister for Finance and Revenue Senator Muhammad Aurangzeb on Wednesday chaired a meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) that approved the re-merger of the National Security Printing Company (NSPC) with the Pakistan Security Printing Corporation (PSPC). The Committee considered a summary from the Finance Division regarding \u201cRe-merger of NSPC a State Owned Enterprise with PSPC owned by the State Bank of Pakistan (SBP)\u201d and \u201cAcquisition of SBP shares in Zarai Taraqiati Bank Limited (ZTBL)\u201d, said a news release. The Committee approved the proposal to execute the Share Purchase Agreement between the Finance Division and PSPC for acquisition of NSPC at a value of Rs 41,774 million. It further allowed the Finance Division to purchase SBP\u2019s 4,015,599,174 equity shares in ZTBL at Rs 8,472.914 million and to acquire SBP\u2019s preference shares in ZTBL at a fixed value of Rs 54,461.536 million. The Committee also approved the adjustment of NSPC transaction proceeds against the ZTBL shares transaction, with the remaining amount to be adjusted against SBP\u2019s retained surplus profit. The Committee also considered a summary submitted by the Power Division regarding Reconstitution of Board of Directors of GENCOs Holding Company Limited (GHCL), Jamshoro Power Generation Company Limited (JPCL), Central Power Generation Company Limited (CPGCL), Northern Power Generation Company Limited (NPGCL), Lakhra Power Generation Company Limited (LPGCL) and National Power Parks Management Company Limited (NPPMCL). The Committee was apprised that the Boards of these entities were non-compliant with the updated SOEs Act and Policy, 2023. Based on the recommendations of the Board Nomination Committee and approval of the Prime Minister, the Committee approved the nominations for Independent Directors, Ex-Officio Directors, and CEOs\/Executive Directors. APP<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD: Minister for Finance and Revenue Senator Muhammad Aurangzeb on Wednesday chaired a meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) that approved the re-merger of the National Security Printing Company (NSPC) with the Pakistan Security Printing Corporation (PSPC). The Committee considered a summary from the Finance Division regarding \u201cRe-merger of NSPC a State […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-471576","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n