The Privatisation and Corporatisation Board (PCB) has announced new eligibility criteria for the appointment of chairpersons to state-owned companies, making a master’s degree a mandatory requirement.

In a circular issued recently, the PCB stated that the decision aims to ensure the appointment of the most capable individuals to lead public enterprises.

Under the updated guidelines, candidates must meet the following conditions:

  • Possess a master’s degree
  • Have at least five years of experience in a business-related field, or a minimum of seven years of experience in managing a business

Previously, candidates were required to score at least 60 per cent in an interview conducted by the PCB. However, under the revised rules, the academic and professional experience requirements will now take precedence.

The PCB said these changes are intended to strengthen leadership across state-owned enterprises and promote more effective governance.