The Privatization and Corporatization Board (PCB) has instructed State owned enterprises (SOEs) to suspend some activities during the current transition period before the new government comes in to power.
In a statement issued by the PCB, state-owned enterprises and public corporations were instructed not to initiate any new projects or incur significant expenditures beyond those related to daily operations.
The PCB requested all public companies to refrain from doing the following:
- Change company procedures, regulations and decisions related to revenue.
- Change decisions, guidelines and regulations related to remuneration
- Change polices related to employees
- Change the employment structure of the company
The PCB also urged companies to furnish all necessary information to the transition committee and to ensure that they have arrangements in place to readily provide the required documentation and information.
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