The sub-committee was formed by the CCOP on February 3 under the chairmanship of the Minister for Privatization for formulating its recommendations for the issuance of convertible bonds of State Owned Entities (SoEs) in the capital market.

The other members of the committee include Nadeem-Ul-Haque, Deputy Chairman Planning Commission, Dr. Waqar Masood Khan, Secretary Ministry of Finance, Shahid Hafiz Kardar, Governor, State Bank of Pakistan, Imtiaz Kazi, Secretary Ministry of Petroleum and Natural Resources, Muhammad Ali, Chairman Securities and Exchange Commission of Pakistan and Muhammad Ejaz Chaudhary, Secretary Ministry of Privatization.