President Alvi approves ordinances to revamp four loss-making institutions

loss-making institutions

ISLAMABAD: In a bid to curtail the losses of four public sector institutions, President Dr Arif Alvi has approved the promulgation of ordinances that will change their management and governance structure.

The ordinances pertain to Radio Pakistan, National Highway Authority, National Shipping Corporation and Pakistan Post Office, sources said on Thursday.

According to sources, the Ministry of Law had sought the approval of these ordinances on the recommendation of the interim government, which was acting on the advice of the International Monetary Fund (IMF).

Caretaker govt to bring ordinance for managing loss-making entities

The IMF had asked Pakistan to reform the loss-making institutions and improve their performance and efficiency.

The sources said that the ordinances seek to establish a board of directors for each of these institutions, consisting of six to 11 members, who will be experts from the private sector instead of civil servants.

The newly appointed board members will also be given salary and other allowances, sources added.

The ordinances are expected to bring about significant improvement in the financial and operational situation of these institutions, which have been a burden on the national exchequer for years.

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