While thanking the commission for a thorough presentation, the President strongly warned that his government cannot continue to have SOEs collecting salaries from taxpayers’ money and not performing, saying “Difficult decisions have to be made with the SOEs we can do without.”
He told the technical teams to sit over the outcome of the Commission’s update and have frank discussions for decisive decisions to be taken.
The presentation revealed that while some of the SOEs have improved their financial performances, there are a number that are still in the red with high overhead costs, leading to government intervention to pay their staff salaries.
The Chair of the Commission, Mr Ousainou Ngum, acknowledged the potential some of the SOEs have and advised the government to look at policies to harness the opportunities.
The Commission set up to provide an oversight function to the SOEs, made a comparative analysis by reviewing their financial performance, audit reports, recruitment and governance of the SOEs between 2023 and 2024.
Also, Board members were trained to build their capacity to better govern with a focus on strategic planning and assessment of financial performances in 2024.
(State House)
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