Parliament approves Asim’s appointment as President of PCB

Asim Mohamed.

The Parliament has approved Asim Mohamed’s appointment as President of the Privatization and Corporatization Board (PCB).

Asim, who previously served as Vice President of PCB, was appointed by President Ibrahim Mohamed Solih as President of PCB in December last year. The President requested the Parliament for approval of the appointment on February 7.

Parliament’s State-Owned Enterprises Committee, which vetted Asim, provided its backing for the appointment last week.

Asim secured the approval of the Parliament for his appointment with the majority vote of 55 parliamentarians on Tuesday afternoon.

The position of President of PCB – the regulator of State-Owned Enterprises – had remained vacant for over a year since former President of the Board, Hassan Waheed’s resignation in September 2020.

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.

PCB currently has six members.