- Web Desk
- 1 Hour ago
Caretaker govt to bring ordinance for managing loss-making entities
- Shahzad Paracha
- Nov 29, 2023
ISLAMABAD: Following directives from the International Monetary Fund (IMF), the Caretaker Government is planning on issuing an ordinance to efficiently manage the operations of loss-making institutions affiliated with four key ministries.
The ordinance will be related to the establishment of a board for each of the loss-making organisation.
Sources within the government have disclosed that the Ministry of Law has successfully collaborated with the relevant institutions to formulate the ordinance, marking a proactive step in addressing financial challenges.
The ordinance is anticipated to be officially issued either today or tomorrow.
The institutions earmarked for intervention include the Ministry of Information and Broadcasting, encompassing PTV and Radio Pakistan, the Pakistan Customs Department under the Federal Board of Revenue (FBR), Pakistan Steel Mills under the Ministry of Industry and Production, and the National Highway Authority.
Insiders revealed that the IMF, during recently concluded policy-level talks, explicitly directed the government to entrust the management of these institutions to private sector experts rather than civil servants. As part of this overhaul, the boards overseeing these institutions are expected to consist of six to eleven members, with the newly appointed board members slated to receive appropriate salaries and allowances.
In the case of the Pakistan Customs Department, an 11-member board, named the Federal Board of Customs, is in the process of formation. This board will include key figures such as the Secretaries of the Ministries of Interior, Industry and Production, Commerce, Finance, Foreign Affairs, and Maritime Affairs, in addition to Customs officials. The objective is to introduce a diverse range of expertise to address the challenges faced by the Customs Department effectively.
Furthermore, boards are being established to oversee the operations of PTV and Radio Pakistan, both subordinate institutions of the Ministry of Information. Similarly, for the loss-making entities falling under the Ministry of Industry, namely Pakistan Steel Mills and the National Highway Authority, ordinances are anticipated to be issued, outlining the framework for the Policy Board to guide and manage their affairs.
The move by the caretaker government is yet another heavy decision that that is being taken by an interim setup before the elecyions, most probably with the intention of meeting certain IMF criteria.