Islamabad: The federal cabinet has ratified a law, proposed and prepared by the Cabinet Committee on state-owned enterprises, to reform underperforming public sector entities in a bid to meet requirements of structural reforms communicated by the International Monetary Fund (IMF), a news source reported on September 16.
According to the draft of the law, titled ‘State Owned Enterprises (Governance and Operations) Act, 2020’, measures will be introduced to ensure effective and prudent management of enterprises and measurable performance goals will be set. The performance will also have to be reported in a transparent and timely way. The law will also establish the selection criteria for the management of the enterprise and governance mechanism for it.
