Mohamed Nizar has resigned as the President of Privatisation and Corporatisation Board (PCB).
In a tweet following his resignation, Nizar said he leaves PCB after 5 years and 26 days, adding he had served the nation for 34 long years. Further, he expressed gratitude to the board members and employees of PCB.
Nizar submitted his resignation in the wake of parliament advising President Ibrahim Mohamed Solih to remove him from the position. The members at PCB are unskilled and unqualified to fill the positions, according to a report compiled by Parliamentary Committee on State-owned Enterprises.
PCB was established to carry out privatisation, corporatisation, monitoring, evaluation, selling of public shares from Government companies, government shareholding companies and commercial government businesses under the Law of Privatization, corporatization, monitoring and Evaluation of Government businesses and all procedures relating to such activities.
Although PCB should be formed with 7 members who would eventually fill a 4-year term, the previous administration only appointed 5 members.
Members to PCB are appointed after the parliament approves the names sent for approval from the President’s Office.