The terms of three members of the Privatisation and Corporatisation Board (PCB) including its President Asim Mohamed have ended.
Asim was appointed as the President of the PCB on December 13, 2021. Prior to his appointment, Asim served as the Vice President of the PCB. Additionally, Rushaha Ahmed Shareef and Ali Shafeeu were both appointed to the PCB on September 17, 2019. The current Vice President of the PCB Mohamed Firaz will temporarily assume the responsibilities until a President is appointed.
PCB was established under the Law of Privatisation, Corporatisation, Monitoring, and Evaluation of Government Businesses. The PCB is a seven-member board tasked to carry out privatisation, corporatisation, monitoring, evaluation, selling of public shares from government companies, government shareholding companies, and commercial government business enterprises, and all procedures relating to such activities. The term of office for PCB members is four years.