A federal committee on Tuesday approved a significant restructuring of the Pakistan Tourism Development Corporation (PTDC), deciding to retain it as a lean, right-sized ‘centre of excellence’ to promote the country’s brand internationally.
The decision was made during a meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs), chaired by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb.
Under the endorsed business plan, the PTDC’s core function will be to act as the face of Pakistan to the world, facilitating intergovernmental coordination, policy support, and marketing for tourism promotion. The overhaul includes a rationalised staff strength and a revised Board of Directors to meet modern governance requirements.
However, the committee directed the Ministry of Inter-Provincial Coordination to formulate and submit a separate proposal, in coordination with the Law Division, detailing the funding mechanism for the new entity and the management of assets currently under the PTDC.
In other key decisions, the panel sanctioned several high-level appointments for major state-owned entities. It approved filling a vacant Independent Director position and the appointment of a Chairman for the Board of the National Insurance Company Limited (NICL).
The committee also gave its assent to filling one vacant Independent Director post on the board of the State Life Insurance Corporation (SLIC) and appointing an Independent Director to one of two vacant positions on the board of the Trading Corporation of Pakistan (TCP).
Furthermore, the CCoSOEs reviewed and endorsed the Procurement Policy of the Export-Import (EXIM) Bank of Pakistan 2025. The policy is aimed at streamlining the bank’s procurement operations, ensuring alignment with the State-Owned Enterprises Act, 2023, and compliance with global standards from the Chartered Institute of Procurement and Supply (CIPS) and local PPRA regulations.
The meeting at the Finance Division was attended by senior officials and secretaries from relevant ministries, while the Federal Minister for Maritime Affairs, Muhammad Junaid Anwar Chaudhry, participated virtually.