PCB forwards list of companies that can be privatized to PO

The Privatization and Corporatization Board (PCB) has sent a list of government companies that can be privatized to the President's Office.

Speaking at a meeting of the State Owned Enterprises (SOE) Committee of the Parliament on Wednesday, PCB Secretary General Ahmed Yameen said the government is working to privatize government companies. He said a list of government companies that could be privatized has now been sent to the President's Office for consideration. However, he did not name the companies.

"All the necessary regulations required to privatize government companies have now been formulated and sent to the President's Office," he said.

The law mainly provides for privatization and corporatization, but it is not being implemented properly, said Yameen. The matter is not under PCB's control, he said.

The government aims to raise MVR 2 billion within three years by privatizing state-owned companies. While there are 31 government companies, none of these companies have been privatized so far.