Finance Minister Muhammad Aurangzeb chaired a virtual meeting of the Cabinet Committee on State-Owned Enterprises in Islamabad on Saturday.

The meeting considered a proposal by the Revenue Division regarding the reconstitution of the Board of Directors of Pakistan Revenue Automation (PVT) Ltd as per terms specified under the State Owned Enterprises Act 2023.

The meeting also considered the recommendation of five majority independent directors and four ex-officio members by the Board Nominations Committee.

The meeting was told that all the five members recommended for positions of independent directors were drawn from the private sector and possessed vast relevant experience in top management positions besides having high-end professional qualifications, expertise and academic background in law, accountancy and management.

The meeting considered the summary and accorded strong endorsement to the proposal.

On this occasion, the Minister lauded the step to have majority independent directors in the Board, and complemented the selection of very prominent professionals from the SME sector to run the Board in a professional manner.

Muhammad Aurangzeb hoped the new Board would be able to observe strong oversight and good management of PRAL to help achieve revenue generation goals.