PHA to be retained in public sector

ISLAMABAD: The government has decided to retain the Pakistan Housing Authority (PHA) Foundation as part of the public sector and directed authorities to come up with a revised plan for its effective functioning.

Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb chaired a meeting of the Cabinet Committee on State-Owned Enterprises at the Finance Division here on Monday.

The meeting was attended by Minister for Housing & Works Riaz Hussain Pirzada, Minister for Maritime Affairs Qaiser Ahmed Sheikh, Minister for Power Awais Leghari, Minister for Law & Justice Azam Nazeer Tarar, deputy chairman Planning Commission, governor State Bank of Pakistan (SBP), chairman Security Exchange Commission of Pakistan (SECP) and other senior officers from the relevant ministries/divisions.

The committee approved Finance Division and Power Division proposals for the appointment of candidates as independent directors/ chairmen to Zarai Taraqiati Bank Limited (ZTBL) and NTDC boards.

The committee also considered a proposal presented by the Ministry of Housing & Works and decided to categorize the Pakistan Housing Authority Foundation as essential with further directions to present a revised plan of the PHA-F to the committee.