The government has announced that the transfer of ownership of official vehicles to retired officers of state-owned enterprises has been discontinued with immediate effect.

The Ministry of Finance, Economic Stabilization and National Policies said in a statement, that the decision has been taken after the Committee on Public Enterprises raised concerns about the transferring of ownership of official vehicles to the officers of state-owned enterprises at the time of their retirement and on the different internal policies that have been adopted by some of the state-owned enterprises including state banks.

The government owing to the forex crisis has also restricted the importation of vehicles.

Accordingly, considering the concerns raised by various factions, the Finance Ministry has issued directives to discontinue such internal policies adopted by state-owned enterprises, including state banks, statutory boards and government-owned companies with regard to the transferring ownership of official vehicles to retiring officers with immediate effect.

The Finance Ministry noted that Boards of Directors of all state-owned enterprises including the representatives of the Treasury are required to strictly supervise the enforcement of the new circular.