The Privatization and Corporatization Board (PCB) has mandated the standardization of overtime pay policies across all State-Owned Enterprises (SOEs). Under this new regulation, effective from the first of next month, overtime compensation will only be applicable for hours worked exceeding the 48-hour weekly threshold.
This initiative aims to enhance operational efficiency and implement cost-cutting measures within these enterprises. While all SOEs are required to amend their internal policies by the 30th of this month, the PCB has previously issued directives advising companies to streamline their workforce as part of broader fiscal reforms.
