CCoSOEs approves appointment of independent directors

RECORDER REPORT

ISLAMABAD: The government has approved the appointment of independent directors on the boards of Pakistan Petroleum Limited (PPL) and Oil & Gas Development Company Limited (OGDCL), moving to fill key vacancies in the two major state-owned energy companies.

The Cabinet Committee on State-Owned Entities (CCoSOEs), which met here on Thursday under the chairmanship of the Federal Minister for Finance and Revenue, Muhammad Aurangzeb, approved a summary submitted by the Petroleum Division regarding the nomination of an Independent Director on the Board of Directors of PPL against a vacant position, in accordance with the State-Owned Enterprise Policy, 2023.

The Committee also considered a summary submitted by the Petroleum Division regarding the constitution of the Board of Directors of OGDCL. The committee approved the proposed nominations against three positions of Independent Directors.