PCB Directs State-Owned Companies to Cut Costs Amid Economic Challenges

The Privatisation and Corporatisation Board (PCB) has directed state-owned companies to implement cost-cutting measures, including reducing travel and employee expenses, limiting hiring, and digitizing operations. The directive advises limiting travel to essential trips, avoiding first-class travel, and using ferries. It also discourages overtime, salary increases without PCB approval, and outsourcing training. The government plans to further reduce spending by merging some companies and restructuring others. These measures come amid economic challenges, including a forex crisis and record-high US dollar rates in the black market. The opposition has criticized the government for not reducing costs sufficiently, citing high salaries for political appointees.

The Privatisation and Corporatisation Board (PCB) has directed state-owned companies to implement cost-cutting measures, including reducing travel and employee expenses, limiting hiring, and digitizing operations. The directive advises limiting travel to essential trips, avoiding first-class travel, and using ferries. It also discourages overtime, salary increases without PCB approval, and outsourcing training. The government plans to further reduce spending by merging some companies and restructuring others. These measures come amid economic challenges, including a forex crisis and record-high US dollar rates in the black market. The opposition has criticized the government for not reducing costs sufficiently, citing high salaries for political appointees.

The Privatisation and Corporatisation Board (PCB) has directed state-owned companies to implement cost-cutting measures, including reducing travel and employee expenses, limiting hiring, and digitizing operations. The directive advises limiting travel to essential trips, avoiding first-class travel, and using ferries. It also discourages overtime, salary increases without PCB approval, and outsourcing training. The government plans to further reduce spending by merging some companies and restructuring others. These measures come amid economic challenges, including a forex crisis and record-high US dollar rates in the black market. The opposition has criticized the government for not reducing costs sufficiently, citing high salaries for political appointees.

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