The Privatisation and Corporatisation Board (PCB) has instructed state-owned companies and their subsidiaries to standardise overtime payment policies.
According to PCB, companies must revise their current policies so that overtime is only paid to employees who work more than 48 hours per week. The move aims to improve management of state-owned companies, strengthen financial systems, and create uniform overtime policies across companies.
PCB said companies with existing overtime caps must compare their current rules with the new 48-hour threshold and adopt the option that is most financially efficient. PCB said the changes will help companies plan workloads better, distribute work more equally among employees, and reduce unnecessary costs.
Companies are asked to complete the required changes by 30 July, with the revised rules taking effect from 1 August.
PCB has also previously directed state-owned companies to reduce staff by 33 percent within three months as part of efforts to improve efficiency and profitability.