The Privatization and Corporatization Board (PCB) has approved a new set of rules governing the appointment and removal of secretaries in State-owned enterprises (SOEs).

The decision was finalised at a PCB meeting held on 27 August 2025, with the policy framed under Section 62(a) of the Privatization, Corporatization and Monitoring and Evaluation of State Commercial Establishments Act.

According to the PCB, the objective of the new policy is to ensure that company secretaries are properly qualified, that their responsibilities are clearly defined, and that procedures for recruitment and removal are conducted transparently. The rules also aim to reinforce the role of secretaries in supporting the functioning of company boards and in maintaining the prestige associated with the post.

The policy sets out specific educational and professional experience requirements for the position, alongside detailed terms of reference, responsibilities, and procedures for dismissal or replacement. The PCB has circulated a detailed circular outlining the provisions to all State-owned companies.