PCB issues guidelines on board committees for state companies
According to the circular, the guidelines outline procedures for the establishment and operation of board committees.
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The Privatisation and Corporatisation Board (PCB) has issued guidelines on the formation of board committees in government companies.
In a circular sent to state-owned enterprises, the PCB said the guidelines were prepared to support the management of government companies and commercial entities operating under the Privatisation Act.
According to the circular, the guidelines outline procedures for the establishment and operation of board committees.
The PCB stated that the objectives of the guidelines include strengthening the role of board committees and supporting the licensing process by incorporating PCB licensing considerations into a sample charter.
The document is also intended to assist companies in drafting charters for board committees.
The PCB said companies required to comply with the Code of Corporate Governance for State-Owned Enterprises must establish board committees in accordance with the guidelines.
The board also encouraged companies that are not state-owned to consider adopting the same guidelines.
