Dormant green fund revived

Pakistan’s Cabinet Committee on State-Owned Enterprises has approved reactivating the Clean Environment Fund Company (CEFC), a non-profit entity that had remained inactive for more than a decade. The decision was taken on Monday, with the aim of enabling the fund to mobilise money for environmental protection initiatives, Dawn reported.

The committee also endorsed a Ministry of Climate Change and Environmental Coordination proposal to place CEFC under the Pakistan Environmental Protection Agency. Its board is to include two ex-officio directors and three independent members. Established in 2015, the company was intended to support environmental protection, conservation and rehabilitation, but the Auditor General of Pakistan said it failed to meet its objectives and breached statutory requirements by not holding board meetings or annual general meetings.