The President of the Privatization and Corporatization Board (PCB), Mohamed Nizar, has said efforts are underway to complete the outstanding audits of State-Owned Enterprises (SOEs) by the end of April 2027.

Nizar made the remarks on Monday during his interview before the Parliament's State-Owned Enterprises (SOE) Committee, which is reviewing his nomination as President of the PCB following his appointment by President Dr Mohamed Muizzu.

Responding to questions from committee members, Nizar said one of his main priorities after assuming office would be to complete the pending financial audits of SOEs. He noted that audits of around 6 companies have remained outstanding since 2022 and that work is currently underway to clear the backlog.

Nizar said the PCB is working in consultation with the Auditor General's Office to ensure that the audits of all SOEs are completed by the end of April 2027.

He expressed confidence that the target could be achieved despite the existing challenges.

Answering questions on the financial condition of SOEs, Nizar said the current financial situation of many companies is weak. However, he said completing the outstanding audits would provide a clearer assessment of their financial position.

Nizar also assured committee members that he would carry out the responsibilities of the office independently and in accordance with the law, without being influenced by any external party.

At the conclusion of the meeting, the committee approved recommending Nizar's appointment as President of the PCB to Parliament.