PCB Cautions SOEs From Making Significant Changes, Advises Full Cooperation With Transition Teams
The Privatization and Corporatization Board (PCB) has issued an advisory to state-owned enterprises (SOEs) to not engage, during the transitional phase of administrations, in business other than those conducted normally on a day-to-day basis. The PCB issued the advisory yesterday outlining the best practices for the SOEs during the transition.
PCB advised SOEs to; refrain from taking on new projects or new activities requiring substantial expenditure except for day-to-day business transactions; avoid changes to rules, regulations or decisions that may affect the company’s revenue; avoid changes to the manner in which salaries and allowances are paid; avoid changes to employee rules and refrain from changing the company structure.
The PCB also advised that SOEs offer the president-elect’s transition teams their full cooperation and easy access to documents and information.
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