PCB begins drafting ‘transparent’ CSR policy for SOEs

PCB and Transparency Maldives begins drafting a CSR policy for SOEs on December 15, 2022. (Photo/PCB)

Privatization and Corporatization Board (PCB) has begun drafting a transparent Corporate Social Responsibility (CSR) policy for State-owned Enterprises (SOEs).

PCB said Thursday that the purpose of the policy is to improve the efficiency and integrity of SOEs – one of the key good governance policies on the government’s strategic action plan.

 PCB said that with the policy, marketing, sponsorship and advertisement activities will be separated from CSR.

PCB is drafting the CSR policy in collaboration with Transparency Maldives.

PCB said the implementation of the CSR policy will relieve public concern over CSR and sponsorship initiatives by SOEs.

The policy will set standards for planning and budgeting CSR activities, and define what falls under CSR and what does not.

PCB expects to be complete the policy and begin implementing it in mid-2023.