The Cabinet Committee on State-Owned Enterprises on Friday approved key governance and administrative decisions aimed at improving the performance and oversight of state-owned entities.

Chaired by Finance Minister Muhammad Aurangzeb, the committee approved the appointment of independent directors to the board of the Pakistan National Shipping Corporation, in line with the State-Owned Enterprises (Governance and Operations) Act, 2023.

It also cleared a Public Service Obligation agreement for electricity distribution companies under the Power Division, designed to formalize service commitments backed by international lenders.

Separately, the committee approved board appointments for the Indigenous Research and Development Agency (IRADA), a recently established body tasked with promoting collaboration between defence, industry, and academic research sectors.