PCB gives SOEs 3 months to meet 33% workforce reduction target
Under the latest directive, SOEs are required to submit regular progress updates using an Excel reporting template provided by the PCB.
The Privatisation and Corporatisation Board (PCB) has given state-owned enterprises (SOEs) three months to complete a 33 per cent reduction in their workforce, in line with a directive issued earlier this year.
The latest circular, signed by PCB President Mohamed Nizar, gives companies three months from Monday to meet the target first set out in a circular issued on 18 April.
Under the latest directive, SOEs are required to submit regular progress updates using an Excel reporting template provided by the PCB.
The circular also states that compliance with PCB directives is a legal obligation under the Privatisation, Corporatisation and Monitoring of State-Owned Enterprises Act.
The original directive instructed SOEs to reduce their workforce by one-third.
It also required companies to strengthen recruitment processes by ensuring appointments are based on educational qualifications, skills and capability.
According to the PCB, the measures are intended to improve recruitment practices and support operational efficiency within state-owned enterprises.
The board also instructed relevant companies to implement the measures and report their progress regularly to the Ministry of Finance.
