A new rule has been introduced to streamline the preparation and review of budgets for government companies, state-owned enterprises, and commercial government entities. Formulated under the Privatization, Corporatization, and Monitoring and Evaluation of State Enterprises Act, the rule aims to standardize budget procedures across these entities.
The Privatization and Corporatization Board (PCB) has issued the "General Rule for the Preparation of the Annual Budget of State Enterprises", which outlines clear steps for submitting budgets to the PCB and the Ministry of Finance. The rule also specifies procedures for modifying approved budgets and requires companies to submit regular budget reviews and ensure internal audits are in place.
The PCB has confirmed that budget preparation for 2025 is already underway, with all documents being prepared according to the new guidelines.