The Privatisation and Corporatisation Board (PCB) has stated it is developing a specialised regulation on the recruitment and dismissal procedures for employees in state-owned enterprises (SOEs).
The Parliamentary Committee on State-Owned Enterprises has held a meeting with the PCB following complaints about alleged improper dismissal of employees hired during the previous administration. During the committee meeting, Parliamentarian Mohamed Shifau raised concerns, suggesting that employees were dismissed based on their political affiliations rather than any wrongdoing. He inquired about potential resolutions.
In response, President of PCB Hamdhy Ageel conveyed that a Human Resources (HR) policy, aligned with the Code of Corporate Governance, has been formulated. He stated that the enforcement of the new regulations would address the issue of wrongful employee dismissals and streamline the recruitment process.
Additionally, Ageel clarified that the appointment of managing directors and board members for SOEs adheres to the new regulations. He mentioned that interviews have been conducted for some members, and assured that the actions of the PCB will not be a hindrance to any company's operations.
Recently appointed managing directors and boards of SOEs raised concerns about the previous administration allegedly granting jobs improperly leading up to the presidential election. Many of the affected employees are on contract, with some contracts expiring in November.