Petition submitted to Parliament calling for accountability from the PCB!
A private individual has submitted a petition to the People’s Majlis seeking to hold the Privatization and Corporatization Board (PCB) accountable for significant delays in publishing the financial reports of state-owned enterprises. The petition asserts that delays exceeding one year hinder efforts to ensure corporate transparency and accountability, and calls on the Parliament to investigate the matter and take necessary action.
Privatization and Corporatization Board (PCB). | RaajjeMV | Raajje MV
A petition has been submitted to the People’s Majlis calling for the Privatization and Corporatization Board (PCB) to be held accountable.
The petition was submitted to the People's Majlis on Tuesday by a private individual, Midhuam Saud.
The petition asserts that the Privatization and Corporatization Board (PCB) has failed to fulfill its statutory responsibilities as the regulatory body for State-Owned Enterprises (SOEs). Specifically, the petition highlights concerns regarding significant delays in the publication of quarterly and annual reports for these companies, which the PCB is mandated to disclose.
Furthermore, the petition highlighted that while the second quarter of 2026 is currently underway, the most recent quarterly report published by the Privatization and Corporatization Board (PCB) dates back to the first quarter of 2025. It noted that this 12-month or one-year lag in publishing reports prevents the public from accessing up-to-date information regarding state-owned enterprises.
Furthermore, the case highlights that this serves as an obstacle to holding state-owned enterprises accountable. It further contends that such delays provide an opportunity for corruption and regulatory violations within these companies to go unaddressed and overlooked.
Consequently, the petition requests that the Privatization and Corporatization Board (PCB) be summoned before the relevant parliamentary committee to clarify the reasons behind the delays in publishing their reports. Furthermore, the petition calls for the committee to compile a comprehensive report on these findings and for the Parliament to determine and implement the necessary measures to resolve these issues.
