The federal government has approved four independent directors for the Strategic Digital Wallet Company, which is responsible for managing and safeguarding Pakistan’s sovereign virtual assets.

The Cabinet Committee on State-Owned Enterprises (CCoSOEs) approved the appointments on a summary submitted by the Finance Division.

The company was established to manage, safeguard and administer the country’s sovereign virtual assets as Pakistan develops its digital asset infrastructure.

PSO Board Gets New Members

The committee also approved nominations for the board of Pakistan State Oil (PSO), including a female independent director and another independent member.

The appointments are part of efforts to reconstitute the PSO Board of Management following the expiry of its previous statutory term. The Petroleum Division submitted the proposal.

Clean Environment Fund Company to Be Activated

The CCoSOEs approved a proposal from the Ministry of Climate Change and Environmental Coordination to activate the Clean Environment Fund Company under the Pakistan Environmental Protection Agency.

The company’s board will include two ex-officio directors and three independent directors.

Pharma Export Council Proposal Deferred

The committee deferred a proposal to establish the Pakistan Pharma Export Promotion Council under the Ministry of Commerce.

The proposed council would be registered as a Section 42 company under the Companies Act, 2017, and operate under the administrative control of the Trade Development Authority of Pakistan (TDAP).

The ministry has been directed to consult relevant stakeholders further before submitting the proposal again.