The Privatisation and Corporatisation (PCB) has compiled a list of companies that will be dissolved and merged with state-owned companies.

Briefing about the PCB's performance at a meeting of the Parliament's State Owned Enterprises (SOE) Committee today, The Board's Secretary General Ahmed Yameen said that the board has prepared and approved a list of companies to be dissolved and approved and submitted it to the government authorities and action will be taken against the companies as per their decision.

He, however, did not specify which companies have decided to be dissolved or merged.

Yameen said that an SOP has been formulated to deal with non-profit companies from among the state-owned companies and efforts are also underway to identify companies to be privatised, and a strong new regulation with criteria to be followed while appointing members to the company's boards is also in the process of being formulated.

Yameen further said that the PCB is preparing to set up a performance monitoring system for companies and is in the process of turning a blind eye to companies that do not cooperate by not sending relevant reports.