Asim appointed President of Privatization and Corporatization Board

Asim Mohamed has been appointed the President of Privatization and Corporatization Board (PCB). 

Prior to his appointment as President, he had served as Vice President of PCB. 

The position of President of PCB – the regulator of State-Owned Enterprises – had remained vacant since former President of the Board, Hassan Waheed’s resignation in September last year. 

He had tendered his resignation citing attempts to influence his decisions. 

Hassan Waheed had been summoned to the Parliament’s State-Owned Enterprises Committee five days before his resignation over claims of failure to uphold his duties and responsibilities. 

PCB is a seven-member Board established under Finance Ministry. Privatization and Corporatization Act establishes PCB as the regulatory body of State-Owned Enterprises. The appointment of President and Vice President to the Board requires approval from the President.