PCB Strengthens Requirements for Directors Appointed to State-Owned Companies
Privatisation and Corporatisation Board | Photo: MV+
The Privatisation and Corporatisation Board (PCB) has revised its policies to strengthen the process of appointing government-representing directors to state-owned enterprises.
According to a circular issued by the PCB, the amendments aim to ensure that individuals selected for these roles possess the necessary qualifications and experience. The changes are part of ongoing efforts to improve corporate governance across government-owned companies in line with the Companies Act.
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ސަރުކާރުގެ ކުންފުނިތަކާއި އަދި ސަރުކާރު ބައިވެރިވާ ކުންފުނިތަކާއި، ވިޔަފާރި އުސޫލުން ހިންގާ ސަރުކާރުގެ ތަންތަނުގެ ބޯޑަށް ސަރުކާރު ތަމްސީލުކުރާ ފަރާތްތައް ޢައްޔަންކުރުމާއި ވަކިކުރުމުގައި ޕީސީބީގެ ބޯޑުން ޢަމަލުކުރާނެ ގޮތުގެ އުސޫލަށް ގެނެވެނު 4 ވަނަ އިސްލާޙާއި ގުޅޭ. pic.twitter.com/u7oFLlEuSN— Privatization & Corporatization Board (@pcb_gov) July 10, 2025
One of the key amendments introduces mandatory criteria for educational qualifications and professional experience. Under the revised policy, appointed directors must hold at least a Level 7 certificate under the National Qualifications Framework and have a minimum of five years of experience in a relevant field. If these requirements are not met, the candidate must have at least seven years of business operation and management experience, which will be assessed by the PCB.
The updated policy also merges the assessment of a candidate’s ability to contribute to corporate planning and development into a single, more comprehensive interview process. Candidates must now achieve a minimum score of 60 per cent in this interview, which evaluates their capacity to support strategic planning and guide the company’s direction.
These changes come amid broader government efforts to improve the governance and performance of state-owned enterprises. Measures are being undertaken to liquidate underperforming companies and restructure others to improve financial sustainability and operational efficiency.
