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.