PCB begins drafting ‘transparent’ CSR policy for SOEs

Privatization and Corporatization Board (PCB) has begun drafting a transparent Corporate Social Responsibility (CSR) policy for State-owned Enterprises (SOEs).

PCB said Thursday that the purpose of the policy is to improve the efficiency and integrity of SOEs – one of the key good governance policies on the government’s strategic action plan.

 PCB said that with the policy, marketing, sponsorship and advertisement activities will be separated from CSR.

PCB is drafting the CSR policy in collaboration with Transparency Maldives.

ސަރުކާރުގެ ސްޓްރެޓީޖިކް އެކްޝަން ޕްލޭންގައި ހިމެނޭ ހެޔޮ ވެރިކަމުގެ އެއް ސިޔާސަތު ކަމުގައިވާ ސަރުކާރު ޙިއްޞާވާ ކުންފުނިތަކުގެ ހިންގުން ހަރުދަނާކޮށް، ނަޒާހަތްތެރިކަން އިތުރުކުރުމުގެ ހަރަކާތެއްގެ ގޮތުން، ކޮރަޕްޝަނާ ދެކޮޅު އަދި ދެފުށް ފެންނަ ސީ.އެސް.އާރް. އުސޫލެއް ..1/2 pic.twitter.com/Ttpq95fcYa

— Privatization & Corporatization Board (@pcb_gov) December 15, 2022

PCB said the implementation of the CSR policy will relieve public concern over CSR and sponsorship initiatives by SOEs.

The policy will set standards for planning and budgeting CSR activities, and define what falls under CSR and what does not.

PCB expects to be complete the policy and begin implementing it in mid-2023.