Cabinet Committee approves re-merger of security printing firms

The Cabinet Committee on State-Owned Enterprises has approved the re-merger of National Security Printing Company with Pakistan Security Printing Corporation.

The decision was taken during today’s meeting of the Cabinet committee that was held in Islamabad with Finance Minister Senator Muhammad Aurangzeb in the chair.

The forum directed the Ministry of Finance and SBP to complete the formalities in this regard and present the implementation plan before the Committee.

The Committee considered the summaries presented by Finance Division for the categorization of their relevant State-Owned Enterprises as strategic, essential or otherwise.

The Cabinet Committee further approved that National Bank of Pakistan, being a part of Sovereign Welfare Fund, is exempted from SOE Act 2003, hence not required to be categorized, whereas EXIM Bank be categorized as Essential SOE.

Source: Radio Pakistan